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Oracle Accounting Hub Cloud 2020 Implementation Essentials Sample Questions:

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

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

2. Given the subledger journal entry:

Note that the first segment is the primary balancing segment.
Which statement is True regarding this subledger journal entry?

A) It appears correct.
B) It is not balanced by entered currency.
C) It is not balanced by balancing segment.
D) It is not balanced by entered amounts.

3. What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

A) Reporting Sequence
B) Document Sequence
C) Accounting Sequence
D) Journal Entry Sequence

4. How many transaction event classes can be set up for a subledger uploaded to Accounting Hub Cloud?

A) Two
B) Three
C) One
D) Unlimited

5. '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. 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) Recurring Journal class
B) Accounting class
C) Multiperiod class
D) Recognition Journal class

Solutions: