Oracle FCCs Certification Prep Exam (New 2024/ 2025 Update) Questions and Verified Answers| 100% Correct | A Grade
QUESTION
If the Intercompany
... [Show More] Property for an Entity is changed from marked to unmarked, which result occurs?
A. The alias of the associated Intercompany member is automatically updated.
B. The associated Intercompany member must be manually removed.
C. The associated Intercompany member is automatically removed.
D. The alias of the associated Intercompany member must be manually changed.
Answer:
The alias of the associated Intercompany member is automatically updated.
QUESTION
What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account?
A. this setting will not affect additions or subtractions to the next parent
B. subtract amounts consolidated to the parent
C. add amounts consolidated to the parent
D. you can't load data to this account
Answer:
subtract amounts consolidated to the parent
QUESTION
Which statement is correct regarding intercompany eliminations?
A. Intercompany eliminations are generally required to remove the effect of transactions within the company
B. Intercompany eliminations are required for sustainability reporting to show the company's waste output
C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled
D. Intercompany eliminations are needed when a company divest itself of a division
Answer:
Intercompany eliminations are generally required to remove the effect of transactions within the company
QUESTION
What member of the Consolidation dimension aggregates the Proportion member and the Elimination members?
A. FCCS_Entity Total
B. FCCS_Parent Currency
C. FCCS_Contribution
D. FCCS_Entity Consolidation
Answer:
FCCS_Contribution
QUESTION
When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)
A. ERP Cloud
B. Supplemental Data
C. Data Management
D. ERP r12
Answer:
Supplemental Data
Data Management
QUESTION
Changes in the balance of Accounts Payable are captured on a company's Cash Flow Report.
Which two dimension members must be built into the row of the company's Cash Flow to report the impact of Accounts Payable?
A. FCCS_Accounts Payable account member
B. FCCS_CashFlow_Operating movement member
C. FCCS_CashFlow_Accounts Payable account member
D. FCCS_Total Balance Sheet - Cash and NonCash account member
E. FCCS_CashChange movement member
Answer:
FCCS_CashFlow_Accounts Payable account member
FCCS_Total Balance Sheet - Cash and NonCash account member
QUESTION
For which three levels can Profiles be set in Data Management?
A. Category
B. Source System
C. System
D. User
E. Application
Answer:
System
User
Application
QUESTION
Which option can be used for quarter distributions on a 13-month time period calendar when creating a Financial Consolidation and Close Cloud (FCCS) application?
A. 3-3-3-3
B. 3-3-3-4
C. 4-4-4-4
D. 4-4-4-5
Answer:
3-3-3-4
QUESTION
Which statement is FALSE when enabling a Multi-GAAP application?
A. Two custom dimensions are available after enabling Multi-GAAP
B. The Multi-GAAP dimension is optional
C. The system automatically creates an FCCS_IFRS member
Additional GAAP adjustment can be created
Answer:
Two custom dimensions are available after enabling Multi-GAAP
QUESTION
Which selection enables data to be imported directly into any Financial Consolidation and Close (FCCS) application?
A. Select Application, then Overview, then Data, and then Export
B. Select Application, then Overview, the Actions, and then Import Data
C. Select Dimensions, then Actions, and then Import Data
D. Select Import, then Actions, and then Data
Answer:
Select Application, then Overview, the Actions, and then Import Data
QUESTION
PQR Company has the ownership structure shown above. If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?
A. First common parent
B. Generation 0
C. First order relation
D. Lowest common denominator
Answer:
First common parent
QUESTION
When designing a report in Financial Reporting Studio, which condition should NOT be considered for a Financial Consolidation and Close (FCCS) report?
A. Designing dynamic reports
B. Expanded vs. single data segments
C. Report performance
D. Suppress missing blocks
Answer:
Suppress missing blocks
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