A
Which three accounting attributes are required to create a valid journal entry?
a) Accounting Date
b) Entered Currency Code
c) First Distribution Identifier
d) Order Date
e) Line Type
Answer: ABC
a) Accounting Date
b) Entered Currency Code
c) First Distribution Identifie
Which is used to track a specific transaction attribute on subledger journal entries?
a) value set rules
b) lookup value rules
c) supporting references
d) account rules
Answer: C
C. supporting references
What are the tables or views from which the Create Accounting process takes source data that is used in accounting rules to create journal entries referred to as?
a) Event entities
b) Source objects
c) Transaction objects
d) Mapping sets
Answer: C
c) Transaction objects
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
a) Conversion type and conversion date
b) Conversion type, conversion date, and conversion rate
c) Conversion date and conversion rate
d) Conversion type
Answer: B
b) Conversion type, conversion date, and conversion rate
Which process will you use to convert the accounted balances from one currency to another target currency for a primary ledger?
a) Translation
b) Revaluation
c) Consolidation
d) Allocation
Answer: A
a) Translation
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?
a) Specify Ledger Options
b) Manage Accounting Attribute Assignments
c) Manage Reporting Currencies
d) Manage Subledger Accounting Options
Answer: B
b) Manage Accounting Attribute Assignments
Which three are mandatory transaction source information?
a) Transaction Number
b) Transaction Line
c) Ledger Name
d) Transaction Date
e) Distribution Link
Answer: ACD
a) Transaction Number
c) Ledger Name
d) Transaction Date
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?
a) Journal Entry
b) Journal Entry Rule Set
c) Event Class
d) Journal Line Rule
e) Event Type
Answer: D
d) Journal Line Rule
In the process of analyzing data from a source system, you find that there are no reliable amounts that can be used to build a sub ledger journal entry. How can you resolve this challenge?
A. Use a custom formula in an account rule to derive amounts.
B. Use a custom formula in a description rule to derive amounts.
C. Use a custom formula in a journal line rule to derive amounts.
D. Use a custom formula in a supporting reference to derive amounts
Answer: C
C. Use a custom formula in a journal line rule to derive amounts.
A customer has a business requirement to provide additional information about subledger Journals that cannot be found in a predefined report. How can you meet this requirement?
a) Use either Account Monitor or Account Inspector to get the required Information.
b) Build a Financial Reporting Studio report that includes all dimensions.
c) Build an OTBI analysis that includes a relevant subject area.
d) Create a Smart View report using the query designer feature
Answer: C
c) Build an OTBI analysis that includes a relevant subject area.
A new billing source system has been registered into Accounting Hub Cloud. The subledger is in an active state. At a later date, the business decides to bring in another legacy system (for example, a payment system) for accounting in Accounting Hub.
What two options do you have?
a) Add this as a new transaction type into the existing registered subledger from the user interface.
b) Register it as a new source system.
c) Add this as a new transaction typo into the existing subledger registration spreadsheet template.
d) Change the transaction data file.
Answer: AB
a) Add this as a new transaction type into existing registered subledger from the user interface.
b) Register it as a new source system.
Which three are the required elements of an accounting method?
a) Journal entry rule sets
b) Journal line rules
c) Description rules
d) Supporting references
e) Account rule
Answer: ABE
a) Journal entry rule sets
b) Journal line rules
e) Account rule
Which is an alternate way to implement a mapping set rule?
a) Define a chart of account rule with conditions.
b) Define a lookup type rule with conditions.
c) Define a flexfield rule with conditions.
d) Define an account rule with conditions.
Answer: D
d) Define an account rule with conditions.
Which three Financial Reporting tools are available as standard in Oracle Cloud?
a) Financial Statement Generator
b) Calculation Spreadsheet
c) Smart View
d) Financial Reporting Web Studio
e) Oracle Transactional Business Intelligence
Answer: CDE
c) Smart View
d) Financial Reporting Web Studio
e) Oracle Transactional Business Intelligence.
Which two options allow validating input values on mapping sets?
a) Segment values
b) Lookup types
c) Value sets
d) Chart of accounts segment.
Answer: BC
b) Lookup types
c) Value sets
Which two can you use to view supporting reference balances?
a) Use the Supporting Reference Balance Inquiry page.
b) Submit the standard Supporting Reference Balances Report.
c) Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.
d) Use Business Intelligence Publisher to build a custom report.
Answer: AC
a) Use the Supporting Reference Balance Inquiry page.
c) Use Oracle Transactional Business Intelligence to create an analysis using the Subledger Accounting - Supporting Reference Real Time subject area.
Which three duty roles are required to perform Accounting Hub setup tasks?
a) Accounting Hub Maintenance
b) Subledger Accounting Manager
c) Accounting Hub Administration
d) Application Implementation Consultant
e) Accounting Hub Integration
Answer: CDE
c) Accounting Hub Administration
d) Application Implementation Consultant
e) Accounting Hub Integration
There is a business requirement to display supporting information with some text and source value at the journal line level that will vary depending on the entered amounts for the line.
What is the solution to implement this requirement?
a) define the line description rule with a condition
b) define journal line rules with conditions
c) define journal entry rule set with condition
d) define user transaction line identifier
Answer: A
a) define the line description rule with a condition
A customer has four external systems: Consumer Loan, Auto Loan, Home Loan and Insurance.
Functional users are allowed to process and view transactions and accounting for all these systems.
Which two implementations allow similar accountingrules to be shared?
A. One subledger for the 3 Loan systems and one subledger for Insurance.
B. One subledger for each source system.
C. One subledger for all 4 source systems.
D. One subledger for Consumer Loan and Auto Loan, and one subledger for HomeLoan and Insurance
Answer: AB
A. One subledger for the 3 Loan systems and one subledger for Insurance.
B. One subledger for each source system.
Invoices received from a source system need to use 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 a condition of expense type.
b) Create an account rule with three rule elements using one for expense type mapping, one for the condition of supplier type, and the other one without any condition.
c) Create two journal line rules with a condition of supplier type.
d) Create an account rule with 31 rule elements using one condition for each expense type and another for supplier type.
Answer: B
b) 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
While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?
a) 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.
b) The account rule is defined with conditions that are not allowing the assignment.
c) The account rule does not return any valid account value.
d) The account rule is defined with a different chart of accounts from the journal entry rule set
Answer: AD
A: 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 a different chart of accounts from the journal entry rule set
You need to build a complex account rule. Which four value types can you use in your definition?
A. Value Set
B. Constant
C. Existing Account Rule
D. Account Combination
E. Mapping Set
F. Source
Answer: BCEF
B. Constant
C. Existing Account Rule
E. Mapping Set
F. Source
Which four options are used to reconcile subledger journal entries?
A. Set up reconciliation using the reconciliation reference accounting attribute.
B. Assign a descriptive text and source on journal lines.
C. Run the Subledger Accounting Method Setups report.
D. Tag supporting references with journal entry lines.
E. Build a custom OTBI report.
F. Run the Subledger Accounting Diagnostics report.
Answer: ABDE
A. Set up reconciliation using the reconciliation reference accounting attribute.
B. Assign a descriptive text and source on journal lines.
D. Tag supporting references with journal entry lines.
E. Build a custom OTBI report.
You are explaining to an accountant that account override is an adjustment feature of Subledger Accounting. Which two traits can help you explain this feature?
a) The account override feature provides an audit trail by preserving the original sub-ledger journal entry.
b) The account override feature adjusts the source transaction.
c) The account override feature is only intended to correct sub-ledger journals that have been posted.
d) The account override feature allows users to record a reason for the adjustment
Answer: AD
a) The account override feature provides an audit trail by preserving the original subledger journal entry.
d) The account override feature allows users to record a reason for the adjustment
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: the total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How do you set up an account rule that is based on leased and owned trucks?
a) Set up a mapping set rule.
b) Set up a lookup value.
c) Set up a value set rule.
d) Set up an account source in the source system file and derive the value
Answer: A
a) Set up a mapping set rule.