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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q110-Q115):
NEW QUESTION # 110
Which statement
explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different than the data in the FCCS_Proportion member?
- A. A rate was entered into the FCCS_Rate Override account.
- B. An ownership percentage for the entity other than 100 was entered.
- C. An intercompany elimination was performed.
- D. The parent entity has a different currency than the child.
Answer: C
NEW QUESTION # 111
Which two statements are true about Cash Flow in the Movement dimension?
- A. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member
- B. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow
- C. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the
- D. You can add shared members to the FCCS_CashChange hierarchy.
Answer: A,B
NEW QUESTION # 112
The company PQR has an ownership structure as shown below.
H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?
- A. No elimination is performed, because H 1 and P 1 do not have the same parent.
- B. PQR
- C. H 1 and P 2
- D. Hickory and Paducah
Answer: D
Explanation:
For H_1 to have an intercompany transaction with P_2, consolidation needs to be run for Hickory and Paducah entities in order for the transaction to be eliminated. Intercompany transactions are transactions between entities that belong to the same group or consolidation hierarchy. Intercompany transactions need to be eliminated during consolidation to avoid double-counting of revenues, expenses, assets, liabilities, etc. Intercompany transactions are eliminated at the common parent entity level of the intercompany entities. For example, if H_1 has an intercompany transaction with P_2, the transaction will be eliminated at Hickory level (the parent of H_1) and Paducah level (the parent of P_2). The other options are not correct. PQR is not the common parent entity of H_1 and P_2, so consolidation does not need to be run for PQR to eliminate the transaction. H_1 and P_2 are not parent entities, so consolidation does not need to be run for them either. Intercompany transactions can be eliminated even if intercompany entities do not have the same parent, as long as they share a common ancestor entity.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.
NEW QUESTION # 113
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 order relation
- B. First common parent
- C. Generation 0
- D. Lowest common denominator
Answer: B
NEW QUESTION # 114
Which two statements are correct with regard to Data Management locations? (Choose two.)
- A. Locations can share dimension member mappings by specifying a location as a parent location of others.
- B. The logic account group is required in order to effect running of calculations after the data load.
- C. A company with three instances of Oracle EBS R12 should only use one location to maintain proper accounting controls.
- D. Location security allows users to be provisioned in Shared Services for read or modify access to each location.
- E. Locations must specify an import format, which may be used by other locations.
- F. Data load rules can be shared across locations.
Answer: A,E
NEW QUESTION # 115
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