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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. '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.
Which is a correct example for a formula to prorate amounts evenly across each period? Note that the NumberofGLPeriod is a predefined function that returns the number of non adjustment accounting periods between two dates.

A) "Amount" * NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") / NumberofGLPeriod ("Effective Date", 'Expiry Date")
B) "Amount" *( NumberofGLPeriod ("Effective Date", "Last Day of Current Accounting Period") + 1)/ (NumberofGLPeriod ("Effective Date", "Expiiy Date") + 1)
C) "Amount" * ("Last Day ol Current Accounting Period" - "Effective Date" + 1) / (("Expiry Date"
"Effective Date") + 1)
D) "Amount" - ("Last Day of Current Accounting Period" - "Effective Date" ) / ("Expiry Date" -"Effective Date")

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 Create Accounting again to generate journal entries for the events that ended in error.
C) Submit the Accounting Event Diagnostics process.
D) Run the Accounting Events Diagnostic Report.

3. A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance. Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accounting rules to be shared?

A) One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
B) One subledger for all 4 source systems.
C) One subledger for the 3 Loan systems and one subledger for Insurance.
D) One subledger for each source system.

4. A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?

A) Summarize by GL Date
B) Summarize by GL Period
C) Group by GL Date
D) Transfer in Details

5. What are all the tabs that are available to be completed in the Register Source System spreadsheet?

A) Source System
B) Source System, Transaction Information, and Line Information
C) Source System and Line Information
D) Source System and Transaction Information

Solutions: