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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which two statements are true about the Multi-GAAP feature? (Choose two.)

A) When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
B) You must specify a prefix for entities that use the alternate gap standard.
C) Select this option if you need to report your financial statements only in IFRS.
D) Enabling Multi-GAAP reduces the number of custom dimensions you can have.

2. An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.
What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

A) Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.
B) Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.
C) A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.
D) A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.

3. Which two statements about the Copy Data function are true? (Choose two.)

A) You can copy data for historical rate and amount overrides.
B) When you select the Regular Data option, journals data is included.
C) You can select which Consolidation dimension member to copy.
D) You cannot select which Account members to copy.

4. What member of the Consolidation dimension aggregates the Proportion member and the Elimination members?

A) FCCS_Entity Total
B) FCCS_Entity Consolidation
C) FCCS_Parent Currency
D) FCCS_Contribution

5. You are
required to create a form that allows users to input dat
a. Which three actions are consistent with this?

A) In the member selection for Entity, do not include shared entities, include only primary instances of entities.
B) Set the consolidation member on the form to FCCS_Entity Input.
C) Select level 0 dimension members for the POV, rows, and columns.
D) Grant the data input users WRITE access to the dimension members used on the form.
E) Set the currency on the form to Parent Currency.

Solutions: