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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?

A) Accounting Sequence
B) Reporting Sequence
C) Journal Entry Sequence
D) Document Sequence

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

3. Which is an alternate way to implement a mappingset rule?

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

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 andloss 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 do you set up an account rule that is based on leased and owned trucks?

A) Set up a lookup value.
B) Set up a mapping set rule.
C) Set up an account source in the source system file and derive the value.
D) Set up a value set rule.

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

Solutions: