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Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

A) An extra custom dimension is available.
B) Data can be stored by the intercompany partner but no eliminations occur.
C) The FCCS No Intercompany member of the ICP dimension is used for all data.
D) The ICP dimension is omitted.

2. When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?

A) Is Plug Account
B) Intercompany Entity
C) Intercompany Account
D) Plug Account

3. Which statement is FALSE about running consolidations?

A) When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
B) When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
C) Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
D) When you consolidate a parent, children with the Impacted calculation status are also consolidated.

4. Which of the following is allowed for accounts with the data storage type of Dynamic Calc?

A) Load data to this account.
B) Enter data through a data form.
C) Load data to this account and create member formulas.
D) Create member formulas.

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

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

Solutions: