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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. You are explaining to an accountant that account override is an adjustment feature of Subledger Accounting.
Which two traits can help you explain this feature?

A) The account override feature is only intended to correct subledger journals that have been posted.
B) The account override feature provides an audit trail by preserving the original subledger journal entry.
C) The account override feature adjusts the original source transaction.
D) The account override feature allows users to record a reason for the adjustment.

2. Which four options are used to reconcile subledger journal entries?

A) Tag supporting references with journal entry lines.
B) Run the Subledger Accounting Method Setups report.
C) Set up reconciliation using the reconciliation reference accounting attribute.
D) Assign a descriptive text and source on journal lines.
E) Run the Subledger Accounting Diagnostics report.
F) Build a custom OTBI report.

3. Which three duty roles are required to perform Accounting Hub setup tasks?

A) Application Implementation Consultant
B) Accounting Hub Administration
C) Accounting Hub Maintenance
D) Accounting Hub Integration
E) Subledger Accounting Manager

4. 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.
How can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?

A) Set up automatic Journal line reversal.
B) Create an adjustment journal entry.
C) Set up a transaction line reversal.
D) Set up multiperiod accounting journal lines.

5. A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value that maps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

A) Activate the journal entry rule set.
B) There is no required action. The mapping addition is complete.
C) Activate the accounting method.
D) Download a new transaction data template.

Solutions: