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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. What will
Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?

A) Add amounts aggregated to the parent.
B) You cannot load data to this account.
C) Subtract amounts aggregated to the parent.
D) This setting does not affect aggregation to the parent.

2. Which two statements are true regarding the Copy Data function?

A) You can select which Consolidation dimension member to copy.
B) You cannot select which Account members to copy.
C) When you select the Regular Data option, journals data is included.
D) You can copy data for historical rate and amount overrides.

3. An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.
What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

A) A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.
B) Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.
C) A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.
D) Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

4. Which statement
is false regarding establishing security for Financial Consolidation and Close?

A) Security can be disabled for any dimension.
B) Security can be assigned at a prevent level.
C) All members are accessible for dimensions with no security applied.
D) Security is mandatory for one dimension.
E) The Identity Domain Administrator inherits full access privileges.

5. In the approval process, which four dimensions constitute an approval unit? (Choose four.)

A) Year
B) Data Source (Entity)
C) Account
D) Scenario
E) Period

Solutions: