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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. 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 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 are the key transaction types mentioned in the use case?

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

2. Which is used to track a specific transaction attribute on subledger journal entries?

A) supporting references
B) value set rules
C) account rules
D) lookup value rules

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

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

4. 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 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 allows users to record a reason for the adjustment.
D) The account override feature provides an audit trail by preserving the original subledger journal entry.

5. Which three duty roles are required to perform Accounting Hub setup tasks?

A) Accounting Hub Integration
B) Application Implementation Consultant
C) Subledger Accounting Manager
D) Accounting Hub Administration
E) Accounting Hub Maintenance

Solutions: