Question 1

You are implementing Accounting Hub Cloud for one of your clients. Your client has agreed to have six segments for the chart of accounts: Company, Line of Business, Account, Department, Product, and Intercompany. For one of the journal line rules, your client requests you to assign a common account rule for Company, Line of Business, Account, and Intercompany. However, for Department and Product, they want to use segmentspecific rules. How will you achieve this while setting up the journal entry rule set?

Options :

A :

Assign Common Account Rule in the Account Combination rule field and assign Department and Product segment rules in the segment rules section

B :

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the accounting method

C :

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while creating the supporting references

D :

Assign Common Account Rule to all the segments and create overriding rules for the Department and Product segment while assigning the accounting method to the ledger

Answer: A

Question 2

To create journal entries, the Create Accounting process takes source data used in accounting rules from tables or views. What are the tables or views called?

Options :

A : Event entities

B : Mapping sets

C : Transaction objects

D : Source objects

Answer: C

Question 3

The company 'Insurance for Homes' provides home insurance services. It has an in-house system that processes home insurance payments received from customers. The end result of the process consists of a list of individual journal entries in a spreadsheet. The company wants to get all journal entries in a secure and auditable repository. Access will be limited to a select few staff members. Additionally, these staff members will need to be able to report and view the entries using an advanced reporting and analytical tool for slicing and dicing the journal entries. Insurance premium is to be recognized as income across the coverage period of the insurance policy. Which types of journal lines need to be set up to generate recurring journal entries for insurance premium in each accounting period?

Options :

A : Deferral and Recognition

B : Reversal and Recognition

C : Multiperiod and Recognition

Answer: A

Question 4

Which predefined role allows a user to manage the period close activities in the General Ledger (GL) application?

Options :

A : Chief Financial Officer (CFO)

B : Financial Analyst

C : General Accountant

D : General Accounting Manager

Answer: D

Question 5

Which three duty roles are required to perform Accounting Hub setup tasks?

Options :

A : Accounting Hub Administration

B : Subledger Accounting Manager

C : Accounting Hub Integration

D : Application Implementation Consultant

E : Accounting Hub Maintenance

Answer: B,C,D

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