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NEW QUESTION 1
'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. 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. Deferral and Recognition
  • C. Reversal and Recognition
  • D. Multiperiod and Recognition

Answer: B

NEW QUESTION 2
A customer's business requirement demands a more granular view of transferred subledger journal entries in GL.
Which of the available General Ledger Journal Entry Summarization options meets this requirement?

  • A. Summarize by GL Date
  • B. Summarize by GL Period
  • C. Group by GL Date
  • D. Transfer in Details

Answer: C

NEW QUESTION 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 intercompany balancing option
  • B. Enable balancing rules
  • C. Enable legal entity rule
  • D. Enable chart of accounts rule

Answer: A

NEW QUESTION 4
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 accounting rules 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 Home Loan and Insurance.

Answer: AC

NEW QUESTION 5
'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. Recognition Journal class
  • B. Recurring Journal class
  • C. Accounting class
  • D. Multiperiod class

Answer: D

NEW QUESTION 6
The new billing source system has been registered into Accounting Hub Cloud. The subledger is in 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 existing registered subledger from the user interface.
  • B. Register it as a new source system.
  • C. Add this as a new transaction typo into existing subledger registration spreadsheet template.
  • D. Change the transaction data file.

Answer: AB

NEW QUESTION 7
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.
How do you calculate discounts for use in the accounting rule?

  • A. Use flexfield
  • B. Use custom formulas
  • C. Use mapping set rules
  • D. Use analytical calculations

Answer: B

NEW QUESTION 8
After supporting references balances setup component is tagged to subledger journal entries, what type of reports need to be created so that the information is available to users?

  • A. an Oracle Financial Reporting Studio report
  • B. a predefined Oracle Business Intelligence Publisher report
  • C. an Oracle Transactional Business Intelligence analysis
  • D. a Smart View Report

Answer: C

NEW QUESTION 9
Which two actions can you accomplish for a registered source system?

  • A. Add new event classes through the user interface.
  • B. Modify the subledger application name as long as there are no pending accounting entries.
  • C. Import the source system registration spreadsheet template multiple times as long as there are no accounting rules created yet.
  • D. Revise source Information through the user interface and add more sources.

Answer: CD

NEW QUESTION 10
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 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

NEW QUESTION 11
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

NEW QUESTION 12
What is the terminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?

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

Answer: D

NEW QUESTION 13
Which three are mandatory transaction source information?

  • A. Transaction Number
  • B. Transaction Line
  • C. Ledger Name
  • D. Transaction Date
  • E. Distribution Link

Answer: ACD

NEW QUESTION 14
What kind of sequence can be assigned to subledger journal entries at the time that the journal entries are created in final mode?

  • A. Reporting Sequence
  • B. Accounting Sequence
  • C. Journal Entry Sequence
  • D. Document Sequence

Answer: B

NEW QUESTION 15
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

NEW QUESTION 16
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