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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:
1. You have
created a navigation flow named Analysts that should be the default navigation for users in the Analysts user group.
How can the Analysts navigation flow be made the default for the Analysts user group?
A) In Application Settings, assign Analysts to the Analysts user group in the System Settings section.
B) Because the navigation flow was given exactly the same name as the user group, it is assigned automatically to the group
C) In the Analysts navigation flow, select the Analysts user group in the Assign To field.
D) In their User Preferences settings, members of the Analysts user group should select Analysts in the Navigation Flow list.
2. Which statement is true of reporting currencies?
A) All input currencies that you add are automatically added as reporting currencies as well.
B) During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
C) When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
D) All reporting currency members have the suffix Reporting.
3. What will
Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?
A) You cannot load data to this account.
B) Add amounts aggregated to the parent.
C) This setting does not affect aggregation to the parent.
D) Subtract amounts aggregated to the parent.
4. To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?
A) Intercompany Accounts
B) Intercompany Partners
C) Intercompany Plug Accounts
D) Elimination Consolidation Dimension member
5. Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
A) There is no reason to consolidate years sequentially.
B) Parent account calculations depend on the sequencing.
C) Years should be consolidated sequentially to ensure that rollforward calculations are correct.
D) Each period in the year must consolidate separately.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |


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