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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

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

A) The changes in the relational database are synced to the underlying Essbase cube.
B) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
C) Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
D) For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.

2. Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?

A) Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning
B) Pre-built integrations to combine narrative and data to produce both internal and external reporting packages
C) Calculations, dashboards, and reports to provide analysis for cash flow modeling
D) Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow

3. If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

A) The associated Intercompany member is automatically removed.
B) The alias of the associated Intercompany member must be manually changed.
C) The alias of the associated Intercompany member is automatically updated.
D) The associated Intercompany member must be manually removed.

4. The company PQR has an ownership structure as shown below.

H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?

A) Hickory and Paducah
B) PQR
C) H 1 and P 2
D) No elimination is performed, because H 1 and P 1 do not have the same parent.

5. When can the Intercompany Dimension be enabled and n=made visible within your application?

A) during application creation and selecting the Intercompany Data feature option
B) during application creation and selecting Multi-source Data Input of Other Data
C) after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute
D) after application creation by selecting any Entity as IC_Entity_Yes for the Intercompany Entity attribute

Solutions: