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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q151-Q156):

NEW QUESTION # 151
Which statement about Opening Balance Override rules is true?

A. Opening Balance Override rules execute for the first period in the year only.
B. You can select which entities to include in the rule scope.
C. You can select which accounts to include in the rule scope.
D. They are available only if Intercompany Data with Tracking is enabled for the business process.

Answer: C

Explanation:
The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.

NEW QUESTION # 152
What is the result of enabling the Calculate Movements system rule?

A. The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.
B. To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
C. Level 0 movement members become read only in web forms, and must be populated through data load.
D. Closing Balance is aggregated from Opening Balance and the current period's movement value.

Answer: D

Explanation:
The result of enabling the Calculate Movements system rule is: Closing Balance is aggregated from Opening Balance and the current period's movement value. The Calculate Movements system rule is a predefined rule that calculates the movement values for each account based on the opening balance and closing balance input values. The rule also aggregates the closing balance from the opening balance and the current period's movement value. The rule can be executed manually or automatically depending on the application settings. The other options are not results of enabling the Calculate Movements system rule.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 59-60; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-4.

NEW QUESTION # 153
What member of the Currency dimension should be used during data entry for historical override amounts?

A. Entity Currency
B. Parent Currency
C. Reporting Currencies
D. Input Currencies

Answer: C

NEW QUESTION # 154
To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?

A. Intercompany Plug Accounts
B. Intercompany Accounts
C. Intercompany Partners
D. Elimination Consolidation Dimension member

Answer: C

Explanation:
Intercompany Partner (ICP) Matching reports list the intercompany transactions that are eliminated duringconsolidation. Intercompany transactions are managed across the Intercompany Partner dimension.https://docs.oracle.com/cd/E57185_01/HFMAG/ch09s02.html

NEW QUESTION # 155
The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting.
To define a Close Manager task template to monitor all seven days, which day range should you define?

A. Day -3 to Day 3
B. Day 1 to Day 7
C. Day -3 to Day 4
D. Day -2 to Day 4

Answer: B

NEW QUESTION # 156
......

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