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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. If the
Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created, which statement is true?

A) Data can be stored by intercompany partner but no eliminations will occur.
B) An extra custom dimension is available.
C) The ICP dimension is omitted.
D) The FCCS_No Intercompany member of the ICP dimension is used for all data.

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

3. What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?

A) Parent Currency
B) Local Currency
C) Entity Currency
D) Base Currency

4. Which statement is FALSE about the Equity Pickup feature?

A) Equity Pickup rules run as part of the consolidation process
B) Seeded rule sets are provided for Equity Pickup.
C) Equity Pickup requires that Ownership Management with the Equity Pickup feature is enabled.
D) Equity Pickup rules are run on demand from the Rules card by users with launch permission.

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

A) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
B) 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.
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) The changes in the relational database are synced to the underlying Essbase cube.

Solutions: