FCCS TEST Questions and Answers
Verified Solutions Latest Update
Question:
You can set up a schedule to define a chronologically ordered set of tasks for a
business process. Which 2 statements are True about Task Manager schedules?
Answer:
After it is open you cannot change it to pending You can change from pending to open
or open and closed to locked
Question:
When you create a currency for an application, you can enable it for reporting
purposes. Which statement is true about reporting currencies?
Answer:
All reporting currency members have the suffix _Reporting.
Question:
you can view the calculation status in forms and grids and then take action as
necessary. For which four dimensions does FCC maintain calculation status?
Answer:
Scenario, Entity, Year and Period
Question:
You need to translate currencies during the consolidation process. Which two
conditions must be met for foreign currency translation to take place during the default
consolidation process?
Answer:
The default currency of the child is different from the default currency of the parent
Reporting currencies have been defined in the current period
,Question:
You want your users to have the ability to create unbalanced journals if you have data
from various systems or if the journals are offset by other business processes such as
custom rules or data loads? Which 2 statements are true about unbalanced journals
Answer:
The unbalanced journals option must be selected during enable features process
Unbalanced journals are allowed for all scenarios entities consolidation members entity
currency and input currency
Question:
you want to create a journal tmplate to post adjustments that have common
information such as entities or accounts. Which 2 statements are true
Answer:
Recurring journals are automatically created with a working status when the period is
opened Recurring templates contain complete information for identical journal entries
that occur for more than one period
Question:
A change has occurred that may affect the data for specified dimensions. For example,
a new rules file or metadata file has been loaded, or the currency rate has changed.
Which calculation status will be displayed?
Answer:
System Change
Question:
During application creation, you select the Intercompany Data option because your
business process includes intercompany data. When you select this option, the system
creates an Intercompany dimension containing system members. Which statement
about the Intercompany dimension is correct?
Answer:
All members in the Entity dimension for which ICP_Entity_Yes is selected are
automatically included in the Intercompany dimension
, Question:
The company PQR has an ownership structure as shown below.
Answer:
PQR
Question:
When a Financial Consolidation and Close (FCCS) application was created, no
intercompany options were enabled. Which statement is true?
Answer:
The Intercompany dimension will not be displayed
Question:
Which statement is true about equity pickup
Answer:
It is a method of re-evaluating the investments owned by a holding company allowing
the parent to realize changes in equity
Question:
When you create an approval unit hierarchy, the system includes a default
FCCS_DefaultGroup. Which two statements are true about the FCCS_DefaultGroup
approval group?
Answer:
1. It includes all accounts not included in any other approval group
Question:
It is always the last submission phase in the Approval Unit Hierarchy.
Question:
when you create and run integrations from the data integration page. Where can you
set the default member for the currency dimension in a data integration? Oracle
Answer:
Location Attributes in the Create Integration dialog box
Verified Solutions Latest Update
Question:
You can set up a schedule to define a chronologically ordered set of tasks for a
business process. Which 2 statements are True about Task Manager schedules?
Answer:
After it is open you cannot change it to pending You can change from pending to open
or open and closed to locked
Question:
When you create a currency for an application, you can enable it for reporting
purposes. Which statement is true about reporting currencies?
Answer:
All reporting currency members have the suffix _Reporting.
Question:
you can view the calculation status in forms and grids and then take action as
necessary. For which four dimensions does FCC maintain calculation status?
Answer:
Scenario, Entity, Year and Period
Question:
You need to translate currencies during the consolidation process. Which two
conditions must be met for foreign currency translation to take place during the default
consolidation process?
Answer:
The default currency of the child is different from the default currency of the parent
Reporting currencies have been defined in the current period
,Question:
You want your users to have the ability to create unbalanced journals if you have data
from various systems or if the journals are offset by other business processes such as
custom rules or data loads? Which 2 statements are true about unbalanced journals
Answer:
The unbalanced journals option must be selected during enable features process
Unbalanced journals are allowed for all scenarios entities consolidation members entity
currency and input currency
Question:
you want to create a journal tmplate to post adjustments that have common
information such as entities or accounts. Which 2 statements are true
Answer:
Recurring journals are automatically created with a working status when the period is
opened Recurring templates contain complete information for identical journal entries
that occur for more than one period
Question:
A change has occurred that may affect the data for specified dimensions. For example,
a new rules file or metadata file has been loaded, or the currency rate has changed.
Which calculation status will be displayed?
Answer:
System Change
Question:
During application creation, you select the Intercompany Data option because your
business process includes intercompany data. When you select this option, the system
creates an Intercompany dimension containing system members. Which statement
about the Intercompany dimension is correct?
Answer:
All members in the Entity dimension for which ICP_Entity_Yes is selected are
automatically included in the Intercompany dimension
, Question:
The company PQR has an ownership structure as shown below.
Answer:
PQR
Question:
When a Financial Consolidation and Close (FCCS) application was created, no
intercompany options were enabled. Which statement is true?
Answer:
The Intercompany dimension will not be displayed
Question:
Which statement is true about equity pickup
Answer:
It is a method of re-evaluating the investments owned by a holding company allowing
the parent to realize changes in equity
Question:
When you create an approval unit hierarchy, the system includes a default
FCCS_DefaultGroup. Which two statements are true about the FCCS_DefaultGroup
approval group?
Answer:
1. It includes all accounts not included in any other approval group
Question:
It is always the last submission phase in the Approval Unit Hierarchy.
Question:
when you create and run integrations from the data integration page. Where can you
set the default member for the currency dimension in a data integration? Oracle
Answer:
Location Attributes in the Create Integration dialog box
