Question 1

You are implementing Accounting Hub for one of your client organizations in the US. The organization has two legal entities, loans and insurance. Both the legal entities have agreed to share the same chart of accounts and convention. However, the loans legal entity will use the January to December calendar, while the insurance legal entity will use the July to June calendar. How many primary ledgers will you create to achieve this requirement?

Options :

A : Four

B : Two

C : One

D : Three

Answer: B

Question 2

Your customer is engaged in the business of distributing different types of loans to their customers. They need to generate dynamic descriptions for journal lines based on the type of interest rates. The two types of interest rates are adjustable and fixed. What would be your recommendation to the customer?

Options :

A : Set up a single description rule with conditions defined for two priorities, one for adjustable rates and the other for fixed rates

B : Define a separate journal entry rule set for each rate type

C : Set up separate description rules for adjustable and fixed rates

D : Set up separate journal line rules for adjustable and fixed rates

Answer: A,D

Question 3

Your customer has four external systems to manage their home loan, auto loan, consumer loan, and personal loan businesses. They have decided to implement Accounting Hub to import the transactional data for generating journal entries from these source systems. While evaluating different possibilities, they ask you to provide your suggestion on sharing accounting rules for these external systems. Which implementation setup allows the sharing of accounting rules for all four external systems?

Options :

A : One subledger for all four source systems

B : Four subledgers, one for each source system

C : Two subledgers, one for home loan and auto loan and another for consumer loan and personal loan

D : Three subledgers, one for home loan and auto loan, the second for consumer loan, and the third for personal loan

Answer: A

Question 4

You are tasked with troubleshooting a Create Accounting error. What is the first step you need to take to use the Diagnostics Framework features?

Options :

A : Set the "SLA: Enable Diagnostic" profile option

B : Run Create Accounting again to generate journal entries for the events that ended in error

C : Submit the Accounting Event Diagnostics process

D : Run the Accounting Events Diagnostic report

Answer: A

Question 5

Apart from a mapping set-based account rule, which is the other way to retrieve segment values for journal entries?

Options :

A : Define a chart of accounts rule with conditions

B : Define a lookup type rule with conditions

C : Define an account rule with conditions

D : Define a flexfield rule with conditions

Answer: C

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