FCCS Cert 2 Best Exam Questions With
100% Verified Answers
Which financial close related component is NOT a part of the Financial Consolidation
and Close Cloud integrated product suite?
A. Process Management
B. Account Reconciliation Management
C. Data Management
D. Supplemental Data Management
E. Financial Close Management - ANSWER-B. Account Reconciliation Management
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-B. Supplemental Data
C. Data Management
For which three levels can Profiles be set in Data Management?
A. Category
B. Source System
C. System
D. User
E. Application - ANSWER-C. System
D. User
E. Application
,Which two prebuilt calculations run on the Movement dimension to determine CTA by
account?
A. Prior Average Rate minus Current Average Rate multiplied by
FCCS_Mvmts_Subtotal
B. Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal
C. FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance
carry forward
D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal
multiplied by Average Rate - ANSWER-C. FCCS_OpeningBalance multiplied by Ending
Rate minus FCCS_OpeningBalance carry forward [OpeningBalance x Ending Rate] -
[OpeningBalance carry forward]
D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal
multiplied by Average Rate
[Mvmts_Subtotal x Ending Rate] - [Mvmts_Subtotal x Average Rate]
If the Alias of an Entity that marked as ...oeIs Intercompany... and is later changed, what
happens to the corresponding Intercompany member Alias?
A. The Intercompany Alias is set to the Entity Name.
B. The Intercompany Alias is automatically changed to the new Entity Alias.
C. The Intercompany Alias is not automatically changed to the new Entity Alias.
D. The Intercompany Alias is automatically set to the Intercompany Name. - ANSWER-
B. The Intercompany Alias is automatically changed to the new Entity Alias.
A company has two subsidiaries with 1000 EURO each in the Cash account.Which four
Consolidation Members will reflect 2000 EURO at the company's balance? (Choose
four.)
A. FCCS_Elimination
B. FCCS_Proportion
C. FCCS_Entity Input
D. FCCS_Entity Consolidation
E. FCCS_Entity Total
F. FCCS_Contribution - ANSWER-B. FCCS_Proportion
D. FCCS_Entity Consolidation
, E. FCCS_Entity Total
F. FCCS_Contribution
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 ...oeNo... and insert
additional currencies within the Currency dimension.
C. During application creation, select the Multicurrency option of ...oeYes....
D. Add a new label for a currency when creating a new Entity member in the Reporting
Currency attribute field. - ANSWER-C. During application creation, select the
Multicurrency option of ...oeYes....
How is drill-back enabled to Supplemental Data Manager (SDM) from the Supplemental
Data member within the Multi-source dimension?
A. Drill-back to SDM is not an available feature.
B. Drill-back is available from any Multi-source dimension member by default, know the
source of the origination data load.
C. By selecting Track Multi-source Data Input option for Supplemental Data during the
application creation process.
D. By selecting Track Multi-source Data Input option for Other Data during the
application creation process. - ANSWER-B. Drill-back is available from any Multi-source
dimension member by default, know the source of the origination data load.
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.
D. Additional GAAP adjustment can be created. - ANSWER-A. Two custom dimensions
are available after enabling Multi-GAAP.
Which three tasks can users perform on Financial Consolidated Close Cloud data with
Smart View in Excel? (Choose three.)
100% Verified Answers
Which financial close related component is NOT a part of the Financial Consolidation
and Close Cloud integrated product suite?
A. Process Management
B. Account Reconciliation Management
C. Data Management
D. Supplemental Data Management
E. Financial Close Management - ANSWER-B. Account Reconciliation Management
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-B. Supplemental Data
C. Data Management
For which three levels can Profiles be set in Data Management?
A. Category
B. Source System
C. System
D. User
E. Application - ANSWER-C. System
D. User
E. Application
,Which two prebuilt calculations run on the Movement dimension to determine CTA by
account?
A. Prior Average Rate minus Current Average Rate multiplied by
FCCS_Mvmts_Subtotal
B. Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal
C. FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance
carry forward
D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal
multiplied by Average Rate - ANSWER-C. FCCS_OpeningBalance multiplied by Ending
Rate minus FCCS_OpeningBalance carry forward [OpeningBalance x Ending Rate] -
[OpeningBalance carry forward]
D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal
multiplied by Average Rate
[Mvmts_Subtotal x Ending Rate] - [Mvmts_Subtotal x Average Rate]
If the Alias of an Entity that marked as ...oeIs Intercompany... and is later changed, what
happens to the corresponding Intercompany member Alias?
A. The Intercompany Alias is set to the Entity Name.
B. The Intercompany Alias is automatically changed to the new Entity Alias.
C. The Intercompany Alias is not automatically changed to the new Entity Alias.
D. The Intercompany Alias is automatically set to the Intercompany Name. - ANSWER-
B. The Intercompany Alias is automatically changed to the new Entity Alias.
A company has two subsidiaries with 1000 EURO each in the Cash account.Which four
Consolidation Members will reflect 2000 EURO at the company's balance? (Choose
four.)
A. FCCS_Elimination
B. FCCS_Proportion
C. FCCS_Entity Input
D. FCCS_Entity Consolidation
E. FCCS_Entity Total
F. FCCS_Contribution - ANSWER-B. FCCS_Proportion
D. FCCS_Entity Consolidation
, E. FCCS_Entity Total
F. FCCS_Contribution
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 ...oeNo... and insert
additional currencies within the Currency dimension.
C. During application creation, select the Multicurrency option of ...oeYes....
D. Add a new label for a currency when creating a new Entity member in the Reporting
Currency attribute field. - ANSWER-C. During application creation, select the
Multicurrency option of ...oeYes....
How is drill-back enabled to Supplemental Data Manager (SDM) from the Supplemental
Data member within the Multi-source dimension?
A. Drill-back to SDM is not an available feature.
B. Drill-back is available from any Multi-source dimension member by default, know the
source of the origination data load.
C. By selecting Track Multi-source Data Input option for Supplemental Data during the
application creation process.
D. By selecting Track Multi-source Data Input option for Other Data during the
application creation process. - ANSWER-B. Drill-back is available from any Multi-source
dimension member by default, know the source of the origination data load.
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.
D. Additional GAAP adjustment can be created. - ANSWER-A. Two custom dimensions
are available after enabling Multi-GAAP.
Which three tasks can users perform on Financial Consolidated Close Cloud data with
Smart View in Excel? (Choose three.)
