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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. PQR Company has the ownership structure shown above.
If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?

A) First common parent
B) Generation 0
C) Lowest common denominator
D) First order relation

2. For which
three dimensions is security enabled by default?

A) Data Source
B) Scenario
C) Consolidation
D) Account
E) Entity

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

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

4. You need a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?

A) Intercompany
B) Journal
C) Consolidation
D) Financial

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

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

Solutions: