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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) Attribute Identifier
C) System Identifier
D) Source System Identifier

2. After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?

A) an Oracle Transactional Business Intelligence analysis
B) a Smart View Report
C) an Oracle Financial Reporting Studio report
D) a predefined Oracle Business Intelligence Publisher report

3. 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) Transaction objects
B) Event entities
C) Mapping sets
D) Source objects

4. '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) Offsets and Recognition
D) Multiperiod and Recognition

5. Which three are mandatory transaction source information?

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

Solutions: