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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which statement correctly describes what happens to parent entities during consolidation?

A) For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
B) The changes in the relational database are synced to the underlying Essbase cube.
C) Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
D) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

2. Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution?

A) calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow
B) calculations, dashboards and reports to provide analysis for cash flow modeling
C) pre-built integrations to combine narrative and data to produce both internal and external reporting packages
D) calculations, dashboards and reports built on planning frameworks to provide cash flow planning

3. Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)

A) To specify exchange rates you must set up multiple currencies when creating an application.
B) Reporting currencies have been defined in the Currency dimension.
C) The default currency of the child is different from the default currency of the parent.
D) The child entity is NOT a shared entity.

4. When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set?

A) Intercompany Account
B) Intercompany Entity
C) Is Plug Account
D) Plug Account

5. Three child entities - P, Q, and R - of a mid-level parent entity - AceCo - have account receivables in the amounts of 10, 20, and 30, respectively.
Which statement contains conditions for all three entities that would cause the account receivable balance amount at AceCo not to be 60?

A) P has a different currency than AceCo, Q is 40% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.
B) P has a different currency than AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.
C) P has the same currency as AceCo, Q is 90% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.
D) P has the same currency as AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.

Solutions: