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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q138-Q143):

NEW QUESTION # 138
Which statement is FALSE about running consolidations?

A. When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-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 a parent, children with the Impacted calculation status are also consolidated.
D. When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.

Answer: A

Explanation:
The statement that is false about running consolidations is: When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated. This is false because running consolidation for a child entity only affects the child entity and its descendants, not the parent entity or its siblings. The parent entity will only be re-consolidated if it has the Impacted calculation status or if you use the Force Consolidate option. The other statements are true about running consolidations.Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-7.

NEW QUESTION # 139
Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?

A. Entity, Currency, Account
B. Consolidation, Currency, Account
C. Currency, Account, Movement
D. Entity, Consolidation, Currency

Answer: C

NEW QUESTION # 140
On what days during the month does Oracle apply patch updates to fix bugs, apply code optimizations, and add new features?

A. the first and third Monday of each month; first Monday for TEST and third Monday for PROD
B. the second and fourth Friday of each month; second Friday for TEST and fourth Friday for PROD
C. the third Friday of each month to apply to both TEST and PROD simultaneously
D. the first and third Friday of each month; first Friday for TEST and third Friday for PROD

Answer: D

NEW QUESTION # 141
When enabling Multi-GAAP during application creation, which additional option is available?

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

Answer: B

NEW QUESTION # 142
Which statement correctly describes the Consolidation dimension?

A. The dimension contains members to store non-controlling interest and joint venture data.
B. The dimension allows users to see input versus journal adjustment data.
C. The dimension aggregates input, consolidated, and elimination data together.
D. The dimension uses a separate member to store data from an entity's descendants.

Answer: B

NEW QUESTION # 143
......

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Bill Fisher Bill Fisher

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