Oracle FCCS Exam Practice Questions with Approved Answers |Latest 2024/2025
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Course
Oracle FCCS
Institution
Oracle FCCS
How do you enable multiple currencies within a Financial Consolidation and Close (FCCS)
application?
A. Enable a dimension for Currency after application creation via a Metadata load.
B. During application creation, select the Multicurrency option of "No" and insert additional
currencies wi...
Oracle FCCS Exam Practice Questions
with Approved Answers.
How do you enable multiple currencies within a Financial Consolidation
and Close (FCCS)
application?
A. Enable a dimension for Currency after application creation via a
Metadata load.
B. During application creation, select the Multicurrency option of "No"
and insert additional
currencies within the Currency dimension.
C. During application creation, select the Multicurrency option of "Yes".
D. Add a new label for a currency when creating a new Entity member
in the Reporting Currency
attribute field. C. During application creation, select the
Multicurrency option of "Yes".
What is the Data Storage value for an account that must remain at a
historical exchange rate
and not retranslate with current rates?
A. Store
B. Never Share
,C. No Rate
D. Dynamic Calc and Store
E. Dynamic A. Store
Which statement regarding consolidation is correct?
A. There is no way to do a prior period entry like this.
B. January and February should be consolidated.
C. February should be consolidated, after which the cash at AceCo is
now 65.
D. January should be consolidated for the change and nothing needs to
happen for February. B. January and February should be
consolidated.
Which statement correctly describes the Consolidation dimension?
A. The dimension contains members to store non-controlling interest
and joint venture data.
B. The dimension uses a separate member to store data from an entity's
descendants.
C. The dimension allows users to see input versus journal adjustment
data.
,D. The dimension aggregates input, consolidated, and elimination data
together. B. The dimension uses a separate member to store data
from an entity's descendants.
Why should years be consolidated sequentially; i.e., first 2018, then
2019, then 2020?
A)Each period in the year must consolidate separately
B)Parent account calculations depend on the sequencing
C)There is no reason to consolidate the years sequentially
D)Rollforward calculations are populated with correct results
D)Rollforward calculations are populated with correct results
Which statement is true regarding Data Management categories?
A. Categories are defined on the Global Mapping tab and then the
frequency is specified on the
Application Mapping tab
B. Categories must begin with FCCS_ to match their Financial
Consolidation and Close counterparts.
C. Application mapping is not required if the global mapping target
category is exactly correct.
, D. The category's time frequency allows data to be loaded to daily,
weekly, and monthly scenarios. C. Application mapping is not
required if the global mapping target category is exactly correct.
A client company has expanded quickly in the past year and has
recognized the need to move their
financial team off spreadsheets and to a more verifiable and automated
solution.
Which two requirements from this team would Oracle's Financial
Consolidation and Close Cloud
Service satisfy? (Choose two.)
A. robust consolidation engine that provides automated aggregations,
intercompany eliminations
and translations without requiring a strong IT footprint
B. dashboard reporting with daily revenue comparisons and KPI's that
measure cost controls
C. leverage compliance efforts to fix process issues across all businesses
and provide oversight for
risk awareness
D. a configurable reporting solution with prebuild dimensions, KPIs,
reports along with a process to
adjust data, monitor the close status and view data and compliance
results in dashboards
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