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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. For which
scenario would an On-Demand rule be an appropriate solution?

A) to add a column with a calculation to a report
B) to copy data from one scenario to a different scenario
C) to perform a custom currency translation for a subset of accounts
D) to allocate data to base entities prior to consolidation

2. When enabling Multi-GAAP during application creation, which additional option is available?

A) Include Supplemental Data
B) Allow adjustments for IFRS
C) Track Multi-Source Data Input
D) Automatically calculate adjustment

3. Which item describes the use for the Currency dimension property Triangulation Currency?

A) The ability to report in multiple currencies
B) The ability to input foreign exchange rates
C) The ability to calculate CTA (Cumulative Translation Adjustment)
D) The ability to calculate foreign exchange rates
E) The ability to force translations

4. Which statement is correct regarding intercompany eliminations?

A) Intercompany eliminations are needed when a company divests itself of a division.
B) Intercompany eliminations are required for sustainability reporting to show the company's waste output.
C) Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.
D) Intercompany eliminations are generally required to remove the effect of transactions within the company.

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

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

Solutions: