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NEW QUESTION 24
Which statement is correct regarding intercompany eliminations?

  • A. Intercompany eliminations are required for sustainability reporting to show the company’s waste output.
  • B. Intercompany eliminations are needed when a company divests itself of a division.
  • C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.
  • D. Intercompany eliminations are generally required to remove the effect of transactions within the company.

Answer: D

 

NEW QUESTION 25
A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary’s functional currency is USD.
Which two items facilitate the reporting of the subsidiary’s Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

  • A. The subsidiary must have a balance not equal to zero in Common Stock.
  • B. USD must be created as a reporting currency.
  • C. Common Stock must have an Exchange Rate Type set to Historical Rate Override.
  • D. Common Stock must have a Data Storage property set to Never Share.
  • E. The subsidiary must have a parent entity with a GBP currency.

Answer: A,E

 

NEW QUESTION 26
Which three combinations of dimensions could be valid for a Financial Consolidation and Close (FCCS) application?

  • A. From Currency, Movement, Scenario
  • B. Value, Entity, Account
  • C. Data source, Consolidation, View
  • D. Period, Year, Entity
  • E. Multi-GAAP, Data Type, Intra-company

Answer: D

 

NEW QUESTION 27
What will
Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?

  • A. You cannot load data to this account.
  • B. Subtract amounts aggregated to the parent.
  • C. Add amounts aggregated to the parent.
  • D. This setting does not affect aggregation to the parent.

Answer: C

Explanation:
Reference:
aggregation_consolidation_operator.html

 

NEW QUESTION 28
……

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