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| Section | Weight | Objectives |
|---|---|---|
| Upload Transaction Data and Adjust Journal Entries | 10% | |
| Analyze Accounting, Reporting, Audit and Reconciliation Requirements | 20% | |
| Modeling Considerations | 10% | |
| Reporting, Auditing and Diagnostics | 10% | |
| Register and Update Source Systems | 15% | |
| Configure Accounting Rules | 20% | |
| Analyze Transaction Type Life Cycle | 15% |
To support foreign currency transaction in Accounting Hub, which accounting attributes must be assigned a source?
Correct Answer: B 🗳️
Given the business requirement in the 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 sourcecode 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 are the key transaction types mentioned in the use case?
Correct Answer: A 🗳️
Which four options are used to reconcile subledger journal entries?
Correct Answer: B,C,D,F 🗳️
What are the tables or views from which the CreateAccounting process takes source data that is used in accounting rules to create journal entries referred to as?
Correct Answer: A 🗳️
Which three are mandatory transaction source information?
Correct Answer: C,D,E 🗳️
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