Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classificationinformation.
You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

A) Use Supporting References to capture customer classification information.
B) Use the Third Party Control Account feature.
C) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
D) Use the Open Account Balances Listing report that has balances by customer.

2. Given the business requirement in the 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 sourcecode 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 are the key transaction types mentioned in the use case?

A) Purchase Trucks and Pay Out Trucks
B) Purchase Trucks and Deploy Trucks
C) Initiate Truck Rentals Contract and Pay Truck Maintenance
D) Pay Insurance and Control Truck Services

3. 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 sourcecode 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 do you calculate discounts for use in the accounting rule?

A) Use mapping set rules
B) Usecustom formulas
C) Use analytical calculations
D) Use flexfield

4. You are explaining to an accountant that account override is an adjustment featureof 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 adjusts the original source transaction.
C) The account override feature provides an audit trail by preserving the original subledger journal entry.
D) The account override feature allows users to record a reason for the adjustment.

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

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

Solutions: