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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

A) Opening Rate
B) Average Rate
C) Local Rate
D) Ending Rate

2. Which statement about Opening Balance Override rules is true?

A) You can select which accounts to include in the rule scope.
B) Opening Balance Override rules execute for the first period in the year only.
C) They are available only if Intercompany Data with Tracking is enabled for the business process.
D) You can select which entities to include in the rule scope.

3. Which statement is true of reporting currencies?

A) All input currencies that you add are automatically added as reporting currencies as well.
B) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
C) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
D) All reporting currency members have the suffix Reporting.

4. Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?

A) The parent entity has a different currency than the child.
B) An ownership percentage for the entity other than 100 was entered.
C) A rate was entered into the FCCS Rate Override account.
D) An intercompany elimination was performed.

5. Which statement is FALSE about running consolidations?

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

Solutions: