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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. To which Financial Consolidation and Close dimension(s) do you map Data Management periods?

A) Period and Year
B) Period, Year, and View
C) Period
D) View

2. Which three dimensions can be included in an approval group? (Choose three.)

A) Entity
B) Account
C) Scenario
D) Movement
E) Multi-GAAP

3. Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?

A) Years should be consolidated sequentially to ensure that rollforward calculations are correct.
B) Parent account calculations depend on the sequencing.
C) There is no reason to consolidate years sequentially.
D) Each period in the year must consolidate separately.

4. 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.

5. Which statement correctly describes what happens to parent entities during consolidation?

A) Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.
B) For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
C) Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
D) The changes in the relational database are synced to the underlying Essbase cube.

Solutions: