Oracle Financial Consolidation and Close Cloud Service Certified Official Practice Test 1z0-1081-22 - Mar-2023
Ace Oracle 1z0-1081-22 Certification with Actual Questions Mar 09, 2023 Updated
Oracle 1z0-1081-22 Exam Syllabus Topics:
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NEW QUESTION 54
Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled?
- A. Consolidation Percentage
- B. Control
- C. Ownership Percentage
- D. Consolidation Method
- E. Minority Interest Percentage
Answer: A
Explanation:
The Consolidation Method and Control setting can be manually changed if needed.
NEW QUESTION 55
When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)
- A. ERP r12
- B. Supplemental Data
- C. ERP Cloud
- D. Data Management
Answer: B,D
NEW QUESTION 56
When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?
- A. 12-month, 13-month and a 14-month
- B. Any number of months can be selected
- C. 12-month only
- D. 12-month and 13-month
Answer: D
NEW QUESTION 57
Which three scenarios result in foreign currency translation during the default consolidation process?
- A. A shared entity has a different default currency than its parent
- B. A parent entity has the same default currency as its parent.
- C. A parent entity has a different default currency than its parent.
- D. A base entity has the same default currency as its parent.
- E. A base entity has a different default currency than its parent.
Answer: A,C,E
NEW QUESTION 58
Which statement
explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different than the data in the FCCS_Proportion member?
- A. A rate was entered into the FCCS_Rate Override account.
- B. The parent entity has a different currency than the child.
- C. An intercompany elimination was performed.
- D. An ownership percentage for the entity other than 100 was entered.
Answer: C
NEW QUESTION 59
What are
two important first steps in initially setting up Task Manager?
- A. Define system settings such as Organization units, Holiday rules and Task attachment size.
- B. Create a schedule and set it to Open status.
- C. Assign tasks to users.
- D. Set up Users.
Answer: A,D
Explanation:
Reference:
cm_close_process_overview.html
NEW QUESTION 60
When designing a report in Financial Reporting Studio, which item is NOT an insert-able report object?
- A. Header
- B. Chart
- C. Grid
- D. Image
Answer: B,C
Explanation:
Report objects include:
* Grids
* Text
NEW QUESTION 61
For your
business process, owners of approval units should be able to lock and unlock data without going.
through an approval process.
Which action should you perform?
- A. Select the Consolidation template when setting up the Approval Unit hierarchy.
- B. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
- C. Select as owners only users with the Service Administrator or Power User security role.
- D. Delete the default Approval Unit hierarchy.
Answer: A
Explanation:
To lock or unlock an entity, you must create an approval unit hierarchy containing the entities you want to lock.
By default, Financial Consolidation and Close provides an approval unit named "Total Geography".
Reference:
locking_and_unlocking_entities.html
NEW QUESTION 62
Which three
are seeded data forms created during business process creation?
- A. Shares Outstanding
- B. Exchange Rate Multi-period
- C. Override Rates
- D. Headcount
- E. Data Status
Answer: B,C,E
NEW QUESTION 63
When enabling Multi-GAAP during application creation, which additional option is available?
- A. Track Multi-Source Data Input
- B. Automatically calculate adjustment
- C. Allow adjustments for IFRS
- D. Include Supplemental Data
Answer: B
NEW QUESTION 64
What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account?
- A. you can't load data to this account
- B. this setting will not affect additions or subtractions to the next parent
- C. add amounts consolidated to the parent
- D. subtract amounts consolidated to the parent
Answer: D
NEW QUESTION 65
Which statement is correct regarding intercompany eliminations?
- A. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.
- B. Intercompany eliminations are needed when a company divests itself of a division.
- C. Intercompany eliminations are generally required to remove the effect of transactions within the company.
- D. Intercompany eliminations are required for sustainability reporting to show the company's waste output.
Answer: C
NEW QUESTION 66
To have access to Dimension Management from directly within Financial Consolidation and Close (FCCS) which security rights are required?
- A. Metadata Administrator
- B. Power User
- C. Metadata Supervisor
- D. System Administrator
Answer: A
Explanation:
Service Administrators have Write access to all dimension members and to all forms.
NEW QUESTION 67
Which item describes the use for the Currency dimension property Triangulation Currency?
- A. The ability to report in multiple currencies
- B. The ability to calculate CTA (Cumulative Translation Adjustment)
- C. The ability to input foreign exchange rates
- D. The ability to calculate foreign exchange rates
- E. The ability to force translations
Answer: D
NEW QUESTION 68
What can the Intercompany Dimension be enabled and made visible within your application?
- A. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute
- B. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Entity attribute
- C. during application creation and selecting the Intercompany Data feature option
- D. during application creation and selecting the Multi-source Data Input of Other Data
Answer: C
NEW QUESTION 69
You are
required to create a form that allows users to input dat
a. Which three actions are consistent with this?
- A. Grant the data input users WRITE access to the dimension members used on the form.
- B. In the member selection for Entity, do not include shared entities, include only primary instances of entities.
- C. Select level 0 dimension members for the POV, rows, and columns.
- D. Set the currency on the form to Parent Currency.
- E. Set the consolidation member on the form to FCCS_Entity Input.
Answer: A,C,E
Explanation:
For bottom-up versions, rows and columns with level 0 members allow data entry.
Administrators have write access to all dimension members and to all forms.
Reference:
form_design_considerations.html
https://docs.oracle.com/cd/E57185_01/AGOHP/acc_assg.html
NEW QUESTION 70
Which is true behavior of default FCCS_ members within an application?
- A. You can change the default FCCS_ member prefix at application creation.
- B. You cannot change the Alias of these default FCCS_ members.
- C. You can change the Name of these default FCCS_ members at any time.
- D. You can change the Alias of these default FCCS_ members at any time.
Answer: C
NEW QUESTION 71
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