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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A) provide real-time visibility to financial reports inFAH Reporting Cloud Service
B) synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service
C) transfer Balances to FAH Reporting Cloud Service
D) upload transaction data into FAH Reporting Cloud Service

2. In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in a description rule to derive amounts.
B) Use a custom formula in an account rule to derive amounts.
C) Use a custom formula in a journal line rule to derive amounts.
D) Use a custom formula in a supporting reference to derive amounts.

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 inthe 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, 'NewTrucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How can the automatic recognition of insurance income be implemented in AccountingHub Cloud?

A) Set up multiperiod accounting journal lines.
B) Set up automatic Journal line reversal.
C) Set up a transaction line reversal.
D) Create an adjustment journal entry.

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

5. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

A) Accounting Hub Create Accounting Duty Role
B) Accounting Hub Create and Post Journal Entry Duty Role
C) Accounting HubIntegration Duty Role
D) Accounting Hub Import Duty Role

Solutions: