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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account?

A) subtract amounts consolidated to the parent
B) add amounts consolidated to the parent
C) you can't load data to this account
D) this setting will not affect additions or subtractions to the next parent

2. Which statement is correct regarding intercompany eliminations?

A) Intercompany eliminations are generally required to remove the effect of transactions within the company.
B) Intercompany eliminations are needed when a company divests itself of a division.
C) Intercompany eliminations are required for sustainability reporting to show the company's waste output.
D) Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.

3. Which three
are seeded data forms created during business process creation?

A) Headcount
B) Override Rates
C) Data Status
D) Exchange Rate Multi-period
E) Shares Outstanding

4. Which statement is true of journals created from Recurring templates?

A) The initial status of journals created from Recurring templates is Approved.
B) The initial status of journals created from Recurring templates is Posted.
C) The line items in journals created from Recurring templates are read only.
D) Journals for recurring templates are created automatically when you open a period for journals.

5. 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) Common Stock must have a Data Storage property set to Never Share.
B) USD must be created as a reporting currency.
C) The subsidiary must have a balance not equal to zero in Common Stock.
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.

Solutions: