1Z0-1081-22 Online Practice Questions and Answers

Which statement is correct regarding intercompany eliminations?

A. Intercompany eliminations are generally required to remove the effect of transactions within the company.

B. Intercompany eliminations are required for sustainability reporting to show the company's waste output.

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.

Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)?

A. FCCS_No Data Source

B. FCCS_Data Input

C. FCCS_SystemTypes

D. FCCS_Proportion

Which statement correctly describes the Consolidation dimension?

A. The dimension contains members to store non-controlling interest and joint venture data.

B. The dimension uses a separate member to store data from an entity's descendants.

C. The dimension allows users to see input versus journal adjustment data.

D. The dimension aggregates input, consolidated, and elimination data together.

Which two members of the Consolidation dimension cause the standard foreign currency translation rules to be ignored? (Choose two.)

A. FCCS_Amount_Override

B. FCCS_Rate Override

C. FCCS_Contribution

D. FCCS_Proportion

E. FCCS_Elimination

F. FCCS_Translation

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

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

B. The associated Intercompany member must be manually removed.

C. The associated Intercompany member is automatically removed.

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

Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?

A. Consolidation, Currency, Account

B. Currency, Account, Movement

C. Entity, Consolidation, Currency

D. Entity, Currency, Account

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

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

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

D. 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

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

Which statement correctly describes when a consolidation can occur within a given year/scenario?

A. An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content.

B. The current period consolidation status is Impacted and the remaining periods are OK.

C. A user has a power user access but only write access to the entity.

D. A user with power user access first locks the entity so that other users cannot consolidate the same entity.

E. The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year.

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.

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.

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

Which statement accurately describes alternate hierarchies?

A. Single entities having multiple parents

B. Parent members having the same currency

C. Contribution to parent members are similar

D. Data must be entered multiple times for shared members

Which two are required fields when registering a source system in Data Management?

A. Source System Type

B. Cloud Type

C. Drill Through URL

D. Name

Financial Consolidation and Close maintains calculation status for which four dimensions?

A. Data Source

B. Scenario

C. Year

D. Entity

E. Consolidation

F. Period

What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?

A. Base Currency

B. Parent Currency

C. Local Currency

D. Entity Currency