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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?

A) a Smart View Report
B) an Oracle Transactional Business Intelligence analysis
C) a predefined Oracle Business Intelligence Publisher report
D) an Oracle Financial Reporting Studio report

2. 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 inthe 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, 'NewTrucks' 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 AccountingHub 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.

3. What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?

A) ERP Integration Service
B) Oracle UCM Web Services
C) Oracle Virtual Web Center Services
D) Oracle Web Center Content Client Command line tool

4. In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in an account rule to derive amounts.
B) Use a custom formula in a description rule to derive amounts.
C) Use a custom formula in a journal line rule to derive amounts.
D) Use a custom formula in a supporting reference to derive amounts.

5. Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journalline?

A) Assign a custom formula.
B) You do not need to do anything additional.
C) Assign a line classification or line type attribute.
D) Assign an accounting attribute.

Solutions: