Oracle Accounting Hub Cloud 2019 Implementation Essentials

QUESTION NO: 1
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 does not return any valid account value. C. The account rule is defined with conditions that are not allowing the assignment. D. The account rule is defined with a different chart of accounts from the journal entry rule set.

Correct Answer: A

QUESTION NO: 2
Where do you define the currency conversion type to be used in converting accounted amount for reporting currency ledger?

A. Manage Subledger Accounting Options B. Manage Reporting Currencies C. Specify Ledger Options D. Manage Accounting Attribute Assignments

Correct Answer: D

QUESTION NO: 3
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: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What do you do to enable costs flow from 'New Truck' to 'Fix Truck'?

A. Enable balancing rules B. Enable chart of accounts rule C. Enable intercompany balancing option D. Enable legal entity rule

Correct Answer: B

QUESTION NO: 4
'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 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 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. Multiperiod class B. Accounting class C. Recurring Journal class D. Recognition Journal class

Correct Answer: A

QUESTION NO: 5
Given the journal:

What is the terminology that is used to identify the "Account Number', 'Original Balance' , and 'Origination Date' fields?

A. User Transaction Identifier B. Source System Identifier C. System Identifier D. Attribute Identifier

Correct Answer: C

QUESTION NO: 6
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 allows users to record a reason for the adjustment. B. The account override feature is only intended to correct subledger journals that have been posted. C. The account override feature adjusts the original source transaction. D. The account override feature provides an audit trail by preserving the original subledger journal entry.

Correct Answer: A

Oracle Accounting Hub Cloud 2019 Implementation Essentials - 1Z1-1060 Exam Questions