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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:
1. Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)
A) The default currency of the child is different from the default currency of the parent.
B) Reporting currencies have been defined in the Currency dimension.
C) To specify exchange rates you must set up multiple currencies when creating an application.
D) The child entity is NOT a shared entity.
2. Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
A) Entity
B) Period
C) Scenario
D) Account
E) Year
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) In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
C) Tracking intercompany eliminations is optional.
D) Intercompany accounts are assigned plug accounts.
4. Which two statements are true about the Multi-GAAP feature? (Choose two.)
A) Enabling Multi-GAAP reduces the number of custom dimensions you can have.
B) Select this option if you need to report your financial statements only in IFRS.
C) You must specify a prefix for entities that use the alternate gap standard.
D) When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
5. Which statement is true about an approval process with the Phase Dependency option enabled?
A) 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
B) 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.
C) Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
D) Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
Solutions:
| Question # 1 Answer: A,B | Question # 2 Answer: B,E | Question # 3 Answer: B | Question # 4 Answer: A,D | Question # 5 Answer: D |







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