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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. Which transaction source is used to link transaction header and line information?

A) Transaction Number
B) Transaction Key
C) Transaction Type
D) Transaction Date

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

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

3. 'Insurances for Homes' company provide home insuranceservice. 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 premiumIs 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

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 ofindividual 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. How do you link the two journal lines in the recurring journal entries cases, so that these two journal lines are identified by the accounting process to create recurring Journal entries?

A) Multiperiod class
B) Accounting class
C) Recognition Journal class
D) Recurring Journal class

5. To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?

A) Conversion date and conversion rate
B) Conversion type
C) Conversion type, conversion date and conversion rate
D) Conversiontype and conversion date

Solutions: