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Oracle Accounting Hub Cloud 2020 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 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 set up an account rule that is based on leased and owned trucks?
A) Set up a lookup value.
B) Set up an account source in the source system file and derive the value.
C) Set up a value set rule.
D) Set up a mapping set rule.
2. While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?
A) The account rule is defined with a different chart of accounts from the journal entry rule set.
B) The account rule is defined with conditions that are not allowing the assignment.
C) 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.
D) The account rule does not return any valid account value.
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 mapping set rules
C) Use flexfield
D) Use analytical calculations
4. What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
A) Mapping sets
B) Source objects
C) Transaction objects
D) Event entities
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 Supporting References to capture customer classification information.
B) Use the Third Party Control Account feature.
C) Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
D) Use the Open Account Balances Listing report that has balances by customer.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A,C | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: A |

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