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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which statement is FALSE about running consolidations?

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

2. Which statement correctly describes the Consolidation dimension?

A) The dimension allows users to view data in the parent currency.
B) The dimension uses a separate member for data from an entity's level-zero descendants.
C) The dimension contains members to store non-controlling interest and joint venture data.
D) The dimension allows users to see input versus journal adjustment data.

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

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

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

Solutions: