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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Which two statements are correct with regard to Data Management locations? (Choose two.)

A) Locations must specify an import format, which may be used by other locations.
B) The logic account group is required in order to effect running of calculations after the data load.
C) A company with three instances of Oracle EBS R12 should only use one location to maintain proper accounting controls.
D) Location security allows users to be provisioned in Shared Services for read or modify access to each location.
E) Data load rules can be shared across locations.
F) Locations can share dimension member mappings by specifying a location as a parent location of others.

2. Which statement is FALSE about running consolidations?

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

3. Which statement correctly describes the Consolidation dimension?

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

4. 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 default currency of the child is different from the default currency of the parent.
C) Reporting currencies have been defined in the Currency dimension.
D) The child entity is NOT a shared entity.

5. Which three scenarios result in foreign currency translation during the default consolidation process? (Choose three.)

A) A parent entity has a different currency from its parent.
B) A base entity currency has a parent entity with a different default currency.
C) A base entity currency has a parent entity with a matching default currency.
D) A shared entity has a parent with a different currency.
E) A parent entity has the same default currency as its parent.

Solutions: