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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)

A) To specify exchange rates you must set up multiple currencies when creating an application.
B) The child entity is NOT a shared entity.
C) The default currency of the child is different from the default currency of the parent.
D) Reporting currencies have been defined in the Currency dimension.

2. Where in Data Integration do you specify the default member for the Multi-GAAP dimension?

A) Options tab of the Application Details dialog box
B) Workbench
C) Execute Integration dialog box
D) Location Attributes section of the Create Integration dialog box

3. Which statement is true of reporting currencies?

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

4. Which two are members in the Consolidation dimension? (Choose two.)

A) FCCS Data Input
B) FCCS Total input And Adjusted
C) FCCS Entity Input
D) FCCS Proportion

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

Solutions: