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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which statement is true about an approval process with the Phase Dependency option enabled?

A) Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
B) Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
C) 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
D) Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.

2. A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary's functional currency is USD.
Which two items facilitate the reporting of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

A) USD must be created as a reporting currency.
B) The subsidiary must have a balance not equal to zero in Common Stock.
C) Common Stock must have a Data Storage property set to Never Share.
D) Common Stock must have an Exchange Rate Type set to Historical Rate Override.
E) The subsidiary must have a parent entity with a GBP currency.

3. The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting.
To define a Close Manager task template to monitor all seven days, which day range should you define?

A) Day 1 to Day 7
B) Day -3 to Day 3
C) Day -2 to Day 4
D) Day -3 to Day 4

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

A) The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together.
B) From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity.
C) Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension.
D) The changes in the relational database are synced to the underlying Essbase cube.

5. To which Financial Consolidation and Close dimension(s) do you map Data Management periods?

A) Period, Year, and View
B) View
C) Period
D) Period and Year

Solutions: