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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. What member of the Consolidation dimension aggregates the Proportion member and the Elimination members?

A) FCCS_Entity Consolidation
B) FCCS_Entity Total
C) FCCS_Parent Currency
D) FCCS_Contribution


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


3. 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) Intercompany Entity
B) Intercompany Account
C) Plug Account
D) Is Plug Account


4. Which statement correctly describes when a consolidation can occur within a given year/scenario?

A) An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content.
B) A user with power user access first locks the entity so that other users cannot consolidate the same entity.
C) The current period consolidation status is Impacted and the remaining periods are OK.
D) The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year.
E) A user has a power user access but only write access to the entity.


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

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


Solutions:

Question # 1
Answer: D
Question # 2
Answer: B
Question # 3
Answer: C
Question # 4
Answer: C
Question # 5
Answer: B

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