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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. You have created a description rule. When you try to select this description rule to be displayed as a header description rule in a journal entry rule set, you are not able to find this rule in the list of values.
What is the possible reason for NOT finding the rule?

A) The rule is built using a line level source.
B) The source does not return any value; therefore the rule is not displayed.
C) The rule is built using a value set source.
D) The rule is built using a custom source.

2. Given the business use case:
'Insurances for Homes' company provides home insurance services. They have an in-house built system that processes 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, the company need to be able to report and view the entries using advanced reporting and analytical tools for segmenting, viewing and understanding data in the journal entries.
The line information may contain more than one line for the same header.
When uploading transactions, which is a way to differentiate each Journalline?

A) Assign an accounting attribute.
B) You do not need to do anything additional.
C) Assign a line classification or line type attribute.
D) Assign a custom formula.

3. Which is an alternate way to implement a mappingset rule?

A) Define an account rule with conditions.
B) Define a chart of account rule with conditions.
C) Define a lookup type rule with conditions.
D) Define a flexfield rule with conditions.

4. '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) Offsets and Recognition
B) Reversal and Recognition
C) Deferral and Recognition
D) Multiperiod and Recognition

5. What is a user job role data context assignment?

A) Security privileges assignment to a user job role
B) Security data access context assignment to a user job role
C) Security data role context assignment to auser job role
D) Duty role context assignment to a user

Solutions: