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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A) The account rule does not return any valid account value.
B) The account rule is defined with a different chart of accounts from the journal entry rule set.
C) The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
D) The account rule is defined with conditions that are not allowing the assignment.

2. 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) Request support team to download subledger Journal entry data.
B) Build a custom Oracle Transactional Business Intelligence report on subledger accounting subject areas.
C) Run predefined reports and filter the report with the available report parameters.
D) Build a new data warehouse solution.

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) Multiperiod and Recognition
B) Deferral and Recognition
C) Offsets and Recognition
D) Reversal and Recognition

4. In the process of analyzing data from a source system you find that there are no reliable amounts that canbe used to build a subledger journal entry.
How can you resolve this challenge?

A) Use a custom formula in a description rule to derive amounts.
B) Use a custom formula in a supporting reference to derive amounts.
C) Use a custom formula in an account rule to derive amounts.
D) Use a custom formula in a journal line rule to derive amounts.

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

Solutions: