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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

A) Journal Entry
B) Event Class
C) Journal Entry Rule Set
D) Journal Line Rule
E) Event Type

2. Which transaction source is used to link transaction header and line information?

A) Transaction Key
B) Transaction Number
C) Transaction Date
D) Transaction Type

3. Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, In some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the Internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions.
How many ledgers are required to be set up?

A) Two primary ledgers
B) One primary ledger
C) One primary, one secondary ledger
D) One primary, one repotting currency ledger

4. Which is an alternate way to implement a mapping set rule?

A) Define a lookup type rule with conditions.
B) Define a chart of account rule with conditions.
C) Define a flexfield rule with conditions.
D) Define an account rule with conditions.

5. Which two actions can you accomplish for a registered source system?

A) Modify the subledger application name as long as there are no pending accounting entries.
B) Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
C) Revise source Information through the user interface and add more sources.
D) Add new event classes through the user interface.

Solutions: