1z0-1081 by Oracle Actual Free Exam Questions And Answers

Question 1

Which selection enables data to be imported directly into any Financial Consolidation and Close (FCCS) application?

A. Select Application, then Overview, then Actions, and then Import Data

B. Select Dimensions, then Actions, and then Import Data

C. Select Application, then Overview, then Data, and then Export

D. Select Import, then Actions, and then Data

Discussion 0

Correct Answer: A Vote an answer

Question 2

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 generally required to remove the effect of transactions within the company.

C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.

D. Intercompany eliminations are needed when a company divests itself of a division.

Discussion 0

Correct Answer: B Vote an answer

Question 3

Which two prebuilt calculations run on the Movement dimension to determine CTA by account?

A. Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal

B. Prior Average Rate minus Current Average Rate multiplied 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

Discussion 0

Correct Answer: C,D Vote an answer

Question 4

What is the Data Storage value for an account that must remain at a historical exchange rate and not retranslate with current rates?

A. Dynamic Calc and Store

B. Store

C. Dynamic

D. Never Share

E. No Rate

Discussion 0

Correct Answer: B Vote an answer

Question 5

The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting.
To define a Close Manager task template to monitor all seven days, which day range should you define?

A. Day -3 to Day 3

B. Day -3 to Day 4

C. Day -2 to Day 4

D. Day 1 to Day 7

Discussion 0

Correct Answer: D Vote an answer

Question 6

If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

A. The associated Intercompany member must be manually removed.

B. The associated Intercompany member is automatically removed.

C. The alias of the associated Intercompany member must be manually changed.

D. The alias of the associated Intercompany member is automatically updated.

Discussion 0

Correct Answer: D Vote an answer

Question 7

P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?

A. February should be consolidated, after which the cash at AceCo is now 65.

B. January and February should be consolidated.

C. There is no way to do a prior period entry like this.

D. January should be consolidated for the change and nothing needs to happen for February.

Discussion 0

Correct Answer: B Vote an answer

Question 8

To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?

A. Elimination Consolidation Dimension member

B. Intercompany Accounts

C. Intercompany Plug Accounts

D. Intercompany Partners

Discussion 0

Correct Answer: D Vote an answer

Question 9

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. Multi-GAAP, Data Type, Intra-company

D. Period, Year, Entity

E. Data source, Consolidation, View

Discussion 0

Correct Answer: D Vote an answer

Oracle Financial Consolidation and Close 2019 Implementation Essentials - 1z0-1081 Exam Practice Test

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