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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

1. 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.

2. Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)

A) Control
B) Minority Interest Percentage
C) Ownership Percentage
D) Consolidation Percentage
E) Consolidation Method

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

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

4. A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary's functional currency is USD.
Which two items facilitate the reporting of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

A) The subsidiary must have a parent entity with a GBP currency.
B) Common Stock must have a Data Storage property set to Never Share.
C) Common Stock must have an Exchange Rate Type set to Historical Rate Override.
D) The subsidiary must have a balance not equal to zero in Common Stock.
E) USD must be created as a reporting currency.

5. Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

A) Ending Rate
B) Average Rate
C) Opening Rate
D) Local Rate

Solutions: