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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

A) Buffer Unit Size
B) Virtual Machine Processing Size
C) Accounting Unit Commit Size
D) Processing Unit Size

2. What is the duty role that needs to be assigned for authorizing accounting processing in Accounting Hub Cloud?

A) Accounting Hub Import Duty Role
B) Accounting Hub Create Accounting Duty Role
C) Accounting Hub Create and Post Journal Entry Duty Role
D) Accounting HubIntegration Duty Role

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

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

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) Run Create Accounting again to generate journal entries for the events that ended in error.
B) Run the Accounting Events DiagnosticReport.
C) Set the "SLA: Diagnostics Enabled" profile option.
D) Submit the Accounting Event Diagnostics process.

Solutions: