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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

1. Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

A) Manage Reporting Currencies
B) Manage Accounting Attribute Assignments
C) Manage Subledger Accounting Options
D) Specify Ledger Options

2. What is the required date format used to import accounting transactions to Accounting Hub Cloud?

A) MM-DD-YYYY
B) YYYY-MM-DD
C) DD-MON-YYYY
D) The user can customize the date format

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 can the automatic recognition of insurance income be implemented in Accounting Hub Cloud?

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

4. Which three are mandatory transaction source information?

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

5. What is NOT included in the minimum required accounting attribute assignments?

A) Distribution Type
B) First Distribution Identifier
C) Accounting Date
D) Second Distribution Identifier

Solutions: