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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. What is the result of enabling the Calculate Movements system rule?

A) Level 0 movement members become read only in web forms, and must be populated through data load.
B) The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.
C) To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
D) Closing Balance is aggregated from Opening Balance and the current period's movement value.

2. When enabling Multi-GAAP during application creation, which additional option is available?

A) Allow adjustments for IFRS
B) Track Multi-Source Data Input
C) Automatically calculate adjustment
D) Include Supplemental Data

3. Which statement is true of reporting currencies?

A) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
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) All reporting currency members have the suffix Reporting.

4. Which statement is FALSE about running consolidations?

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

5. In the approval process, which four dimensions constitute an approval unit? (Choose four.)

A) Scenario
B) Year
C) Data Source (Entity)
D) Account
E) Period

Solutions: