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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:
1. Given the journal:
What is the terminology that is used to identify the "Account Number', 'Original Balance' , and 'Origination Date' fields?
A) User Transaction Identifier
B) System Identifier
C) Source System Identifier
D) Attribute Identifier
2. After registering a new source system into Accounting Hub and going live for a short period, your customer identified the need to add additional transaction sources. What should you do?
A) Tell them this cannot be implemented.
B) Add new transaction sources from the user interface.
C) Register another source system that includes these new transaction sources.
D) Add new transaction sources in the current source system registration spreadsheet and re-upload the spreadsheet file.
3. '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) Multiperiod and Recognition
B) Reversal and Recognition
C) Offsets and Recognition
D) Deferral and Recognition
4. Which three are mandatory transaction source information?
A) Transaction Date
B) Transaction Number
C) Transaction Line
D) Distribution Link
E) Ledger Name
5. 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 classification information.
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 the Third Party Control Account feature.
B) Use the Open Account Balances Listing report that has balances by customer.
C) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
D) Use Supporting References to capture customer classification information.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: A,B,E | Question # 5 Answer: D |
By Clementine
