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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)

A) Ownership Percentage
B) Minority Interest Percentage
C) Consolidation Percentage
D) Control
E) Consolidation Method

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

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

3. Which statement is FALSE about when Intercompany Data is enabled?

A) Intercompany accounts are assigned plug accounts.
B) In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
C) The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
D) Tracking intercompany eliminations is optional.

4. Which two statements are true about Enterprise Journals? (Choose two.)

A) Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
B) You cannot deploy Enterprise Journals to a period with Pending status.
C) You can assign a team as preparer or reviewer.
D) Line items can only include entities that have been enabled for Enterprise Journals.

5. 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 reporting currency members have the suffix Reporting.
D) All input currencies that you add are automatically added as reporting currencies as well.

Solutions: