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Oracle Accounting Hub Cloud 2021 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 thirdparties 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 do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

A) Enable chart of accounts rule
B) Enable balancing rules
C) Enable legal entity rule
D) Enable intercompany balancing option

2. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A) The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
B) The account rule is defined with a different chart of accounts from the journal entry rule set.
C) The account rule is defined with conditions that are not allowing the assignment.
D) The account rule does not return any valid account value.

3. Given the subledger journal entry:

Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?

A) It appears correct.
B) It is not balanced by entered amounts.
C) It is not balanced by entered currency.
D) It is notbalanced by balancing segment.

4. What is the key attribute that is used to query journalentries of a registered source system?

A) Journal Source
B) Ledger Name
C) Accounting Date
D) Transaction Date

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

Solutions: