Oracle Accounting Hub Cloud 2021 Implementation Essentials

Question 1

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

A. Transaction Key

B. Transaction Date

C. Transaction Type

D. Transaction Number

Correct Answer: D

Question 2

Invoices received from a source system need touse a specific account based on 30 different expense types.
However, if the invoice is from a certain supplier type, it needs to go to a default account regardless of the expense type.
What is the solution?

A. Create a 30 account combination rule with acondition of expense type.

B. Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.

C. Create two journal line rules with a condition of supplier type.

D. Create an account rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other one without any condition.

Correct Answer: D

Question 3

A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value thatmaps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

A. Activate the journal entry rule set.

B. Activate the accounting method.

C. There is no required action. The mapping addition is complete.

D. Download a new transaction data template.

Correct Answer: C

Question 4

What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?

A. Source objects

B. Mapping sets

C. Event entities

D. Transaction objects

Correct Answer: D

Question 5

A financial analyst at your workplace would like to frequently view Journal entries report with all line details attributes with user's specific set of criteria and pivot table.
What is the solution to implement this requirement quickly?

A. Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.

B. Build a new data warehouse solution.

C. Run predefined reports and filter the report with the available report parameters.

D. Request support team to download subledger Journal entry data.

Correct Answer: A

Question 6

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

A. Conversion date and conversion rate

B. Conversiontype and conversion date

C. Conversion type

D. Conversion type, conversion date and conversion rate

Correct Answer: A

Question 7

'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. Recognition Journal class

B. Accounting class

C. Recurring Journal class

D. Multiperiod class

Correct Answer: D

Oracle Accounting Hub Cloud 2021 Implementation Essentials - 1Z0-1060-21 Exam Practice Test

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