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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) Customer Number
B) Currency
C) Amount
D) Line Type
2. 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 the entered amounts for the line.
What is the solution to implement this requirement?
A) define line description rule with condition
B) define journal entry rule set with condition
C) define user transaction line identifier
D) define journal line rules with conditions
3. Which transaction source is used to link transaction header and line information?
A) Transaction Key
B) Transaction Type
C) Transaction Number
D) Transaction Date
4. 'Insurances for Homes' company provide home insurance service. 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 premium Is 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) Offsets and Recognition
B) Multiperiod and Recognition
C) Reversal and Recognition
D) Deferral and Recognition
5. Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
A) Manage Accounting Attribute Assignments
B) Manage Subledger Accounting Options
C) Manage Reporting Currencies
D) Specify Ledger Options
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: C |






