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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)

A) Movement
B) Account
C) Consolidation
D) View

2. Which statement about Opening Balance Override rules is true?

A) They are available only if Intercompany Data with Tracking is enabled for the business process.
B) Opening Balance Override rules execute for the first period in the year only.
C) You can select which accounts to include in the rule scope.
D) You can select which entities to include in the rule scope.

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

A) 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
B) The changes in the relational database are synced to the underlying Essbase cube.
C) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
D) 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.

4. Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

A) An extra custom dimension is available.
B) Data can be stored by the intercompany partner but no eliminations occur.
C) The FCCS No Intercompany member of the ICP dimension is used for all data.
D) The ICP dimension is omitted.

5. Which statement is true of reporting currencies?

A) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
B) All reporting currency members have the suffix Reporting.
C) All input currencies that you add are automatically added as reporting currencies as well.
D) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.

Solutions: