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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which statement is true of reporting currencies?

A) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
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) All input currencies that you add are automatically added as reporting currencies as well.

2. Which statement is true of journals created from Recurring templates?

A) Journals for recurring templates are created automatically when you open a period for journals.
B) The initial status of journals created from Recurring templates is Approved.
C) The line items in journals created from Recurring templates are read only.
D) The initial status of journals created from Recurring templates is Posted.

3. Which statement about Opening Balance Override rules is true?

A) You can select which entities to include in the rule scope.
B) You can select which accounts to include in the rule scope.
C) Opening Balance Override rules execute for the first period in the year only.
D) They are available only if Intercompany Data with Tracking is enabled for the business process.

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

5. What action requires refreshing the database?

A) You deploy a new Configurable Calculation rule in Calculation Manager.
B) You change the ownership percentage for an entity.
C) You edit the Consolidation Operator for a member in the Account dimension.
D) You edit the alias for a member in the Entity dimension.

Solutions: