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'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 pass the calculated value for discount amounts in accounting rules to the corresponding journal line?
Assign it to an accounting method.
Assign it to an account rule.
Assign it to a transaction type.
Assign it to an accounting attribute.
Which three are mandatory transaction source information?
Answer: A, B, E
Which three duty roles are required to perform Accounting Hub setup tasks?
Accounting Hub Maintenance
Subledger Accounting Manager
Accounting Hub Administration
Application Implementation Consultant
Accounting Hub Integration
Answer: B, D, E
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. 'New Trucks' and' Fix Trucks' are located in the same country and share chart-of accounts and accounting conventions. How many ledgers are required to be set up?
Two primary ledgers
One primary ledger
One primary, one secondary ledger
One primary, one repotting currency ledger
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?
One subledger for the 3 Loan systems and one subledger for Insurance.
One subledger for each source system.
One subledger for all 4 source systems.
One subledger for Consumer Loan and Auto Loan, and one subledger for Home Loan and Insurance.
Answer: A, B
What automation option is NOT available when uploading transaction data to Accounting Hub Cloud?
ERP Integration Service
Oracle Web Center Content Client Command line tool
Oracle Virtual Web Center Services
Oracle UCM Web Services
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?
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.
The account rule is defined with conditions that are not allowing the assignment.
The account rule does not return any valid account value.
The account rule is defined with a different chart of accounts from the journal entry rule set.
Oracle 1Z0-1019 Exam (Oracle Accounting Hub Cloud Service 2018 Implementation Essentials) Detailed Information