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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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.
What wil the typical transaction information be at the header level?

A) Amount
B) Line Type
C) Currency
D) Customer Number

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

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

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

4. In the process of analyzing data from a source system you find that there are no reliable amounts that can be 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 supporting reference to derive amounts.
D) Use a custom formula in a journal line rule to derive amounts.

5. 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

Solutions: