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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Where do you set the Intercompany Entities Aggregation option?

A) In the member properties of the Intercompany Top member
B) In the Setup Wizard during business process creation
C) In the member properties of the Intercompany Entities member
D) On the Properties page of the Intercompany dimension

2. 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) There is no way to do a prior period entry like this.
C) February should be consolidated, after which the cash at AceCo is now 65.
D) January and February should be consolidated.

3. Which statement
is FALSE when Intercompany Data is enabled?

A) The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.
B) Intercompany accounts are assigned plug accounts.
C) Tracking intercompany eliminations is optional.
D) In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.

4. A company has two subsidiaries with 1000 EURO each in the Cash account.
Which four Consolidation Members will reflect 2000 EURO at the company's balance? (Choose four.)

A) FCCS_Entity Input
B) FCCS_Entity Total
C) FCCS_Proportion
D) FCCS_Contribution
E) FCCS_Elimination
F) FCCS_Entity Consolidation

5. Which statement is FALSE about running consolidations?

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

Solutions: