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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which statement is FALSE about running consolidations?

A) When you consolidate a parent, children with the Impacted calculation status are also consolidated.
B) When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
C) When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
D) Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.

2. Which two statements are true about the roll forward calculation in the Movement dimension? (Choose two.)

A) Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
B) Values for Opening Balance are retrieved from the prior period's Closing Balance.
C) Translated values for Closing Balance are adjusted to the ending rate for the period.
D) Data for opening balances must be loaded to the Opening Balance member prior to consolidation.

3. Which two data extract export file types are available within Financial Consolidation and Close (FCCS)? (Choose two.)

A) DAT file type
B) Tab delimited
C) Comma delimited
D) Excel XLS file type

4. P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?

A) January should be consolidated for the change and nothing needs to happen for February.
B) January and February should be consolidated.
C) February should be consolidated, after which the cash at AceCo is now 65.
D) There is no way to do a prior period entry like this.

5. Where can you set the default member for the Currency dimension in a Data Integration integration?

A) Map Members tab in the Create Integration dialog box
B) Run Integration dialog box
C) Location Attributes in the Create Integration dialog box
D) Options tab of the Application Details dialog box

Solutions: