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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?

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

2. What is the result of enabling the Calculate Movements system rule?

A) Level 0 movement members become read only in web forms, and must be populated through data load.
B) Closing Balance is aggregated from Opening Balance and the current period's movement value.
C) To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
D) The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.

3. Which three scenarios result in foreign currency translation during the default consolidation process? (Choose three.)

A) A shared entity has a parent with a different currency.
B) A parent entity has a different currency from its parent.
C) A parent entity has the same default currency as its parent.
D) A base entity currency has a parent entity with a different default currency.
E) A base entity currency has a parent entity with a matching default currency.

4. PQR Company has the ownership structure shown above.
If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?

A) Lowest common denominator
B) First common parent
C) First order relation
D) Generation 0

5. How can Metadata be imported into any Financial Consolidation and Close (FCCS) application?

A) by selecting Dimension, then Import, and then Metadata
B) by selecting Application, then Overview, then Dimensions, and then Import
C) by selecting Application, then Overview, then Dimensions, and then Export
D) by selecting Tasks, then Metadata, and then Import

Solutions: