1Z0-1081-20 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 four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)

A. The Cash Change hierarchy cannot be modified.

B. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in the FCCS_CashFlow hierarchy.

C. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator.

D. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.

E. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.

F. Siblings can be added to the FCCS_CashFlow_Investing member.

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. this setting will not affect additions or subtractions to the next parent

B. subtract amounts consolidated to the parent

C. add amounts consolidated to the parent

D. you can't load data to this account

Which item describes the use for the Currency dimension property Triangulation Currency?

A. The ability to force translations

B. The ability to report in multiple currencies

C. The ability to calculate foreign exchange rates

D. The ability to calculate CTA (Cumulative Translation Adjustment)

E. The ability to input foreign exchange rates

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

If the Alias of an Entity that marked as "Is Intercompany" and is later changed, what happens to the corresponding Intercompany member Alias?

A. The Intercompany Alias is set to the Entity Name.

B. The Intercompany Alias is automatically changed to the new Entity Alias.

C. The Intercompany Alias is not automatically changed to the new Entity Alias.

D. The Intercompany Alias is automatically set to the Intercompany Name.

You need a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules. Which type of report can you run to accomplish this?

A. Consolidation Report

B. Journal Report

C. Intercompany Report

D. Financial Report

How can the Intercompany dimension be enabled within your application?

A. In the metadata editor, select Enabled for the Intercompany property for the Entity dimension.

B. In the metadata editor, select IC_Acc_Yes for the Intercompany property for any account.

C. During application creation, select the Intercompany Data option.

D. In the metadata editor, select IC_Entity_Yes for the Intercompany Entity property for any entity.

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 Bottom Up template when setting up the Approval Unit hierarchy.

B. Select the Consolidation template when setting up the Approval Unit hierarchy.

C. Delete the default Approval Unit hierarchy.

D. Select as owners only users with the Service Administrator or Power User security role.

Which two statements are true about Cash Flow in the Movement dimension?

A. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.

B. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.

C. You can add shared members to the FCCS_CashChange hierarchy.

D. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.