1z1-1081 by Oracle Actual Free Exam Questions And Answers

Question 1

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.)

A. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls

B. provide the ability to collaborate during close and analyse transaction detail in real time

C. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness

D. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint

E. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a process to adjust data, monitor the close status and view data and compliance results in dashboards

Discussion 0

Correct Answer: A,E Vote an answer

Question 2

UESTION NO: 64
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.)

A. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

B. A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.

C. 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.

D. 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.

Discussion 0

Correct Answer: A,B Vote an answer

Question 3

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.
Which three tasks are necessary to achieve this goal? (Choose three.)

A. Load detailed Fixed Asset data to Movement members.

B. Create a Roll Forward in the account dimension.

C. Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals

D. Add custom Movement members to the FCCS_CashFlow hierarchy.

E. Add custom members for Additions and Disposals as dependents of
FCCS_Mvmts_CapitalExpenditures.

Discussion 0

Correct Answer: A,C,E Vote an answer

Question 4

Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

A. Scenario, View, Parent Entity and Account

B. Year, Scenario, Base Entity and Account

C. Scenario, Account, Base Entity and Parent Entity

D. Period, Scenario, Base Entity and Parent Entity

Discussion 0

Correct Answer: D Vote an answer

Question 5

Which explains why the Currency dimension does NOT display in your application?

A. Security has not been granted

B. Entity-specific security rights were not properly granted

C. Multi-Currency option was not selected at application creation

D. Security access to the Multi-GAAP dimension is required

Discussion 0

Correct Answer: C Vote an answer

Question 6

What can the Intercompany Dimension be enabled and made visible within your application?

A. during application creation and selecting the Multi-source Data Input of Other Data

B. during application creation and selecting the Intercompany Data feature option

C. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute

D. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Entity attribute

Discussion 0

Correct Answer: B Vote an answer

Question 7

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.)

A. FCCS_CashFlow_Operating movement member

B. FCCS_CashFlow_Accounts Payable account member

C. FCCS_CashChange movement member

D. FCCS_Total Balance Sheet - Cash and NonCash account member

E. FCCS_Accounts Payable account member

Discussion 0

Correct Answer: B,D Vote an answer

Question 8

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 Consolidation

D. FCCS_Entity Total

E. FCCS_Entity Input

F. FCCS_Contribution

Discussion 0

Correct Answer: C,D,E,F Vote an answer

Question 9

Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? (Choose three.)

A. Provide a strong compliance framework that includes auditing and segregation of duties.

B. Integrate with source systems.

C. Ensure security of sensitive data.

D. Provide predictive analysis and modeling.

Discussion 0

Correct Answer: A,B,C Vote an answer

Oracle Financial Consolidation and Close 2019 Implementation Essentials - 1z1-1081 Exam Practice Test

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