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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. Which three are mandatory transaction source information?

A) Transaction Date
B) Transaction Line
C) Distribution Link
D) Ledger Name
E) Transaction Number

2. You have been assigned to troubleshoot a Create Accounting error.
What is the first step you need to take to use the diagnostics framework features?

A) Set the "SLA: Diagnostics Enabled" profile option.
B) Run the Accounting Events Diagnostic Report.
C) Submit the Accounting Event Diagnostics process.
D) Run Create Accounting again to generate journal entries for the events that ended in error.

3. What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

A) Document Sequence
B) Reporting Sequence
C) Accounting Sequence
D) Journal Entry Sequence

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

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

5. '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) Reversal and Recognition
B) Deferral and Recognition
C) Multiperiod and Recognition
D) Offsets and Recognition

Solutions: