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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Accounting and Reporting | 20% | - Reporting tools and outputs
|
| Topic 2: Subledger Accounting Configuration | 30% | - Accounting transformations and mappings
|
| Topic 3: Accounting Hub Overview and Architecture | 15% | - Accounting Hub architecture and core components
|
| Topic 4: Implementation Best Practices and Maintenance | 10% | - Implementation methodology
|
| Topic 5: Source System Integration and Data Management | 25% | - Data mapping and transformation
|
1. While creating an accounting method, you are unable to select a journal entry rule set for a combination of event class and event type.
What could be the reason for this issue?
A) Supporting references assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
B) Description rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
C) Journal line rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
D) The accounting method is either not attached to any chart of accounts or is attached to another chart of accounts than the journal entry rule set
2. In Functional Setup Manager, if setup data is segmented by a specific context, you can perform the setup task iteratively, such as assigning different ledger options to different primary ledgers.
Which action should you take to specify the context?
A) Select the value for Scope
B) Select the value for Functional Area
C) Select the value for Feature
D) Select the value for Lookup Code
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 Trucks" 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. "New Trucks" and "Fix Trucks" are located in the same country and share a chart of accounts and accounting conventions.
How many ledgers are required to be set up?
A) Two primary ledgers
B) One primary, one reporting currency ledger
C) One primary ledger
D) One primary, one secondary ledger
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?
A) Set the "SLA: Enable Diagnostic" profile option
B) Run the Accounting Events Diagnostic report
C) Run Create Accounting again to generate journal entries for the events that ended in error
D) Submit the Accounting Event Diagnostics process
5. Your customer needs to generate journal entries for the insurance premium collected from the sale of policies.
The different components of the premium collected by the company include Basic Premium and Tax. You decide to set up three separate journal line rules to account for Basic Premium, Tax Amount, and Total Amount.
Which attribute in a journal line rule allows you to classify these three journal entry lines?
A) Rounding Class
B) Event Class
C) Business Flow Class
D) Accounting Class
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B |
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