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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which statement is true of reporting currencies?

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

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

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

3. Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)

A) Account
B) Entity
C) Year
D) Scenario
E) Period

4. For your business process, owners of approval units should be able to lock and unlock data without going through an approval process.
Which action should you perform?

A) Select the Consolidation template when setting up the Approval Unit hierarchy.
B) Delete the default Approval Unit hierarchy.
C) Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
D) Select users with the Service Administrator security role.

5. Which two statements are true about Enterprise Journals? (Choose two.)

A) Line items can only include entities that have been enabled for Enterprise Journals.
B) You cannot deploy Enterprise Journals to a period with Pending status.
C) Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
D) You can assign a team as preparer or reviewer.

Solutions: