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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. In the approval process, which four dimensions constitute an approval unit? (Choose four.)

A) Year
B) Period
C) Data Source (Entity)
D) Account
E) Scenario

2. Which statement is FALSE about the Equity Pickup feature?

A) Equity Pickup rules run as part of the consolidation process
B) Seeded rule sets are provided for Equity Pickup.
C) Equity Pickup requires that Ownership Management with the Equity Pickup feature is enabled.
D) Equity Pickup rules are run on demand from the Rules card by users with launch permission.

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

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

4. Which statement is true about an approval process with the Phase Dependency option enabled?

A) Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
B) Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
C) Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
D) 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.

5. Which statement correctly describes the Consolidation dimension?

A) The dimension allows users to view data in the parent currency.
B) The dimension allows users to see input versus journal adjustment data.
C) The dimension contains members to store non-controlling interest and joint venture data.
D) The dimension uses a separate member for data from an entity's level-zero descendants.

Solutions: