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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on theentered amounts for the line.
What is the solution to implement this requirement?

A) define journal line rules with conditions
B) define user transaction lineidentifier
C) define line description rule with condition
D) define journal entry rule set with condition

2. How do you enable diagnostics on subledger transaction sources?

A) enable diagnostic source
B) enable diagnostic profile
C) enable transaction debug
D) enable diagnostic attribute

3. Which is used to track a specific transaction attribute on subledger journal entries?

A) lookup value rules
B) supporting references
C) account rules
D) value set rules

4. 'Insurances for Homes' company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

A) Multiperiod and Recognition
B) Reversal and Recognition
C) Deferral and Recognition
D) Offsets and Recognition

5. Given the business requirement in the 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 sourcecode 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.
What are the key transaction types mentioned in the use case?

A) Initiate Truck Rentals Contract and Pay Truck Maintenance
B) Pay Insurance and Control Truck Services
C) Purchase Trucks and Deploy Trucks
D) Purchase Trucks and Pay Out Trucks

Solutions: