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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q121-Q126):

NEW QUESTION # 121
P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?

A. January should be consolidated for the change and nothing needs to happen for February.
B. There is no way to do a prior period entry like this.
C. January and February should be consolidated.
D. February should be consolidated, after which the cash at AceCo is now 65.

Answer: C

NEW QUESTION # 122
Which statement is FALSE about when Intercompany Data is enabled?

A. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
B. Intercompany accounts are assigned plug accounts.
C. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
D. Tracking intercompany eliminations is optional.

Answer: A

Explanation:
The statement that is false about when Intercompany Data is enabled is: In order for intercompany data to be eliminated, intercompany entities must be children of the same parent. This statement is not true because intercompany data can be eliminated even if intercompany entities are not children of the same parent, as long as they share a common ancestor entity in the Entity dimension hierarchy. For example, if Entity A and Entity B are siblings under Entity C, and Entity A has an intercompany transaction with Entity B, the intercompany data will be eliminated at Entity C level. The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, and the Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18-19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.

NEW QUESTION # 123
Which statement is FALSE when setting up Shared Entities?

A. You build an alternate hierarchy by using partial share Entity members.
B. The calculation status will not change in all instances when data is changed in one instance.
C. The Data Storage Member Property must set to "Dynamic Calc".
D. When data is posted to one shared entity, the data is posted to all instances.

Answer: B

NEW QUESTION # 124
Which statement
about the Equity Pickup feature is FALSE?

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

Answer: D

NEW QUESTION # 125
You are required to define a form that displays all form data for only specific View dimension member and not allow users to change this.
Where on the form do you define the View dimension and select the correct member?

A. the Point of View
B. the Page Axis
C. Other Options section
D. a column

Answer: A

NEW QUESTION # 126
......

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