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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. Audit is enabled by default for which task categories?

A) All task categories
B) No task categories
C) Metadata Administration and Security
D) Data only

2. A client company has expanded quickly in the past year and has recognized the need to move their financial team off spreadsheets and to a more verifiable and automated solution.
Which two requirements from this team would Oracle's Financial Consolidation and Close Cloud Service satisfy? (Choose two.)

A) leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
B) provide the ability to collaborate during close and analyse transaction detail in real time
C) robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
D) dashboard reporting with daily revenue comparisons and KPI's that measure cost controls
E) a configurable reporting solution with prebuild dimensions, KPIs, reports along with a process to adjust data, monitor the close status and view data and compliance results in dashboards

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

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

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

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

5. When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.
Which statement is true?

A) Data can be stored by intercompany partner but no eliminations will occur.
B) An extra custom dimension will be available.
C) The ICP dimension will be omitted.
D) The FCCS_No Intercompany member of the ICP dimension will be used for all data.

Solutions: