FCCS Exam 2023 Questions with

FCCS Exam 2023 Questions with Complete Solutions Which statement is FALSE when setting up Shared Entities?

• The calculation status will not change in all instances when data is changed in one

instance.

• The Data Storage Member Property must set to "Dynamic Calc".
• You build an alternate hierarchy by using partial share Entity members.
• When data is posted to one shared entity, the data is posted to all instances. -

Correct Answer B. The Data Storage Member Property must set to "Dynamic Calc".You have added a new task to a close schedule with a task due date past the defined end date of the schedule. What is the result of the change?

• The task will not run.
• An error, you can't add a new task past the due date.
• The new task will run outside of the schedule end date.
• The schedule end date changes to match the end date of the task. - Correct Answer
• The new task will run outside of the schedule end date.

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? (Choose two.)

• FCCS_CashFlow_Accounts Payable account member
• FCCS_Total Balance Sheet - Cash and NonCash account member
• FCCS_Accounts Payable account member
• FCCS_CashChange movement member
• FCCS_CashFlow_Operating movement member - Correct Answer A.

FCCS_CashFlow_Accounts Payable account member

• FCCS_Total Balance Sheet - Cash and NonCash account member 1 / 3

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?

• you can't load data to this account
• subtract amounts consolidated to the parent
• add amounts consolidated to the parent
• this setting will not affect additions or subtractions to the next parent - Correct

Answer B. subtract amounts consolidated to the parent Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

• Scenario, Account, Base Entity and Parent Entity
• Year, Scenario, Base Entity and Account
• Scenario, View, Parent Entity and Account
• Period, Scenario, Base Entity and Parent Entity - Correct Answer D. Period,

Scenario, Base Entity and Parent Entity What can the Intercompany Dimension be enabled and made visible within your application?

• after application creation by selecting any Account as IC_Acc_Yes for the

Intercompany Entity attribute

• during application creation and selecting the Intercompany Data feature option
• during application creation and selecting the Multi-source Data Input of Other Data
• after application creation by selecting any Account as IC_Acc_Yes for the

Intercompany Account attribute - Correct Answer B. during application creation and selecting the Intercompany Data feature option An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

• Data entry to the Common Stock account with the FCCS_Amount Override member

of the Consolidation dimension and the Data Source member FCCS_Managed Data. 2 / 3

• A journal entry to the Common Stock account with the FCCS_Amount Override

member of the Consolidation dimension and the Data Source member FCCS_Journal Input.

• Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments

member and the Data Source member FCCS_Data Input.

• A journal entry to reverse the adjusted Common Stock balance with the Data Source

member FCCS_Journal Input. - Correct Answer C. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

• A journal entry to reverse the adjusted Common Stock balance with the Data Source

member FCCS_Journal Input.What member of the Currency dimension should be used during data entry for historical override amounts?

• Entity Currency
• Parent Currency
• Input Currencies
• Reporting Currencies - Correct Answer D. Reporting Currencies

Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)

• FCCS_Journal Input

B. FCCS_PCON

• FCCS_Intercompany Eliminations
• FCCS_No Data Source - Correct Answer A. FCCS_Journal Input
• FCCS_Intercompany Eliminations

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.)

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