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NEW QUESTION # 14
Where can you set the default member for the Currency dimension in a Data Integration integration?
- A. Run Integration dialog box
- B. Map Members tab in the Create Integration dialog box
- C. Options tab of the Application Details dialog box
- D. Location Attributes in the Create Integration dialog box
Answer: D
Explanation:
Explanation
The default member for the Currency dimension in a Data Integration integration can be set in the Location Attributes in the Create Integration dialog box. This attribute specifies the currency that will be used for loading data if no currency mapping is defined. The other options do not allow setting the default member for the Currency dimension. The Map Members tab in the Create Integration dialog box is used to map members from source to target dimensions. The Options tab of the Application Details dialog box is used to set general options for Data Integration, such as logging level, parallel threads, etc. The Run Integration dialog box is used to execute an integration and monitor its status. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-4.
NEW QUESTION # 15
Which customization can you perform on the Navigation Flows page?
- A. Select a data form to display at start up based on user group.
- B. Set a default POV by user group.
- C. Add or Hide cards.
- D. Select a color scheme.
Answer: C
Explanation:
Explanation
The customization that you can perform on the Navigation Flows page is to add or hide cards. Cards are the icons that link to different features or functions of the application. You can customize which cards are visible or hidden for each user group by using the Navigation Flows page. The other options are not customizations that you can perform on the Navigation Flows page. You cannot set a default POV by user group, select a color scheme, or select a data form to display at start up based on user group from this page. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-5.
NEW QUESTION # 16
For which four dimensions does Financial Consolidation and Close maintain calculation status? (Choose four.)
- A. Scenario
- B. Entity
- C. Data Source
- D. Consolidation
- E. Period
- F. Year
Answer: A,B,E,F
Explanation:
Explanation
Financial Consolidation and Close maintains calculation status for four dimensions: Entity, Period, Scenario, and Year. These dimensions are used to define an approval unit, which is a unit of work that can be calculated, consolidated, translated, and approved. The calculation status indicates the progress of the approval unit through the consolidation process. The other dimensions, such as Data Source, Consolidation, and View, do not have calculation status. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 23-24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-1.
NEW QUESTION # 17
Which statement is true of reporting currencies?
- A. All input currencies that you add are automatically added as reporting currencies as well.
- B. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
- C. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
- D. All reporting currency members have the suffix Reporting.
Answer: B
Explanation:
Explanation
The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 21; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-17.
NEW QUESTION # 18
Which two statements are true about Enterprise Journals? (Choose two.)
- A. Line items can only include entities that have been enabled for Enterprise Journals.
- B. You can assign a team as preparer or reviewer.
- C. Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
- D. You cannot deploy Enterprise Journals to a period with Pending status.
Answer: A,B
Explanation:
Explanation
The two statements that are true about Enterprise Journals are:
Line items can only include entities that have been enabled for Enterprise Journals. You can enable or disable entities for Enterprise Journals in the Entity dimension properties.
You can assign a team as preparer or reviewer. You can create teams of users and assign them roles in the Enterprise Journal workflow.
The other statements are false. You can deploy Enterprise Journals to a period with any status, as long as it is not locked. Users with either the Service Administrator or Power User role can create Enterprise Journal templates, but they also need the Create Journal Template role assignment. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 25; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 6-2.
NEW QUESTION # 19
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)
- A. Local Rate
- B. Ending Rate
- C. Average Rate
- D. Opening Rate
Answer: B,C
Explanation:
Explanation
The seeded exchange rate forms display two rate accounts: Average Rate and Ending Rate. These rate accounts show the exchange rates used for translating data from local currency to reporting currency. The Average Rate account shows the average exchange rate for the period, which is used for translating flow accounts. The Ending Rate account shows the ending exchange rate for the period, which is used for translating balance accounts. The other rate accounts, such as Local Rate, Opening Rate, and Historical Rate, are not available in the seeded exchange rate forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 49-50; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-4.
NEW QUESTION # 20
Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?
- A. An ownership percentage for the entity other than 100 was entered.
- B. An intercompany elimination was performed.
- C. The parent entity has a different currency than the child.
- D. A rate was entered into the FCCS Rate Override account.
Answer: A
Explanation:
Explanation
The statement that explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member is: An ownership percentage for the entity other than 100 was entered. This means that the entity is not fully owned by its parent, and therefore its data is adjusted by the ownership percentage when it is consolidated. The FCCS_Entity Input member shows the data before consolidation, while the FCCS_Proportion member shows the data after applying the ownership percentage. The other options do not explain why the data might be different. A rate entered into the FCCS Rate Override account affects the currency translation, not the consolidation. The parent entity having a different currency than the child also affects the currency translation, not the consolidation. An intercompany elimination is performed after consolidation, not before, and it affects the FCCS_Eliminations member, not the FCCS_Proportion member. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 31; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-9.
NEW QUESTION # 21
Where in Data Integration do you specify the default member for the Multi-GAAP dimension?
- A. Workbench
- B. Execute Integration dialog box
- C. Options tab of the Application Details dialog box
- D. Location Attributes section of the Create Integration dialog box
Answer: C
Explanation:
Explanation
The place in Data Integration where you specify the default member for the Multi-GAAP dimension is the Options tab of the Application Details dialog box. This is where you can set default members for any dimension that is not mapped in your integrations. The default member for Multi-GAAP will be used when loading data from sources that do not have multiple GAAPs. The other options are not places where you specify the default member for Multi-GAAP. The Workbench is where you define source files and mappings, but not default members. The Execute Integration dialog box is where you run integrations, but not specify default members. The Location Attributes section of the Create Integration dialog box is where you select target applications and scenarios, but not default members. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 9-6.
NEW QUESTION # 22
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Movement
- B. Account
- C. View
- D. Consolidation
Answer: C,D
Explanation:
Explanation
When using the Copy Data feature to copy data from one scenario, year, or period to another, member selection is not available for the Consolidation and View dimensions. These dimensions are automatically set to Entity Input and Periodic, respectively. Member selection is available for other dimensions, such as Movement, Account, etc., depending on the application settings and security access. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 55; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 7-13.
NEW QUESTION # 23
Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)
- A. The child entity is NOT a shared entity.
- B. Reporting currencies have been defined in the Currency dimension.
- C. To specify exchange rates you must set up multiple currencies when creating an application.
- D. The default currency of the child is different from the default currency of the parent.
Answer: B,D
Explanation:
Explanation
The two conditions that are required for foreign currency translation to take place during the default consolidation process are:
The default currency of the child is different from the default currency of the parent.
Reporting currencies have been defined in the Currency dimension.
These conditions ensure that there is a need and a way to translate the child entity's data into another currency.
If the child entity has the same default currency as the parent, there is no need for translation. If reporting currencies have not been defined in the Currency dimension, there is no way to specify exchange rates or translation methods. The other options are not required for foreign currency translation. The child entity can be a shared entity, as long as it has a different default currency than its parent. To specify exchange rates, you do not need to set up multiple currencies when creating an application; you can do it later in Data Management.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 31; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-16.
NEW QUESTION # 24
Which statement about Opening Balance Override rules is true?
- A. They are available only if Intercompany Data with Tracking is enabled for the business process.
- B. Opening Balance Override rules execute for the first period in the year only.
- C. You can select which accounts to include in the rule scope.
- D. You can select which entities to include in the rule scope.
Answer: C
Explanation:
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. References: 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 # 25
Which four items are included in the Currency dimension? (Choose four.)
- A. Reporting Currencies
- B. Entity Currency
- C. Journal Input Currencies
- D. Default Currency
- E. Parent Currency
- F. Input Currencies
Answer: A,B,C,F
Explanation:
Explanation
The four items that are included in the Currency dimension are:
Input Currencies: These are the currencies that are used to enter data into the application. They are based on the default currency of each entity.
Journal Input Currencies: These are the currencies that are used to enter journals into the application.
They are based on the default currency of each entity or reporting currency.
Entity Currency: This is a dynamic member that represents the default currency of each entity. It is used to display data in the entity's currency without translation.
Reporting Currencies: These are the currencies that are used to translate data into different currencies for reporting purposes. They are defined by the administrator and can be based on any currency.
The other options are not included in the Currency dimension. Parent Currency is a member of the Consolidation dimension, not the Currency dimension. It is used to display data in the parent entity's currency after translation. Default Currency is a property of the Entity dimension, not a member of the Currency dimension. It is used to specify the input currency for each entity. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 21; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 3-2.
NEW QUESTION # 26
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. Consolidation Percentage
- B. Minority Interest Percentage
- C. Control
- D. Ownership Percentage
- E. Consolidation Method
Answer: A,D,E
Explanation:
Explanation
The three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-6.
NEW QUESTION # 27
Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
- A. Entity
- B. Period
- C. Account
- D. Scenario
- E. Year
Answer: B,E
Explanation:
Explanation
Year and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 12-2.
NEW QUESTION # 28
Which statement is FALSE about running consolidations?
- A. When you consolidate a parent, children with the Impacted calculation status are also consolidated.
- B. Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
- C. When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
- D. When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
Answer: D
Explanation:
Explanation
The statement that is false about running consolidations is: When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated. This is false because running consolidation for a child entity only affects the child entity and its descendants, not the parent entity or its siblings. The parent entity will only be re-consolidated if it has the Impacted calculation status or if you use the Force Consolidate option. The other statements are true about running consolidations. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-7.
NEW QUESTION # 29
Which four sample ratios can be selected during business process creation? (Choose four.)
- A. Debt Ratio
- B. Contribution Margin
- C. Earnings per Share
- D. Days Sales in Receivables
- E. Gross Margin
- F. Inventory Ratios
Answer: A,D,E,F
Explanation:
Explanation
The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.
NEW QUESTION # 30
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