1Z0-1081-22 Online Practice Questions and Answers

Which dimension includes the FCCS_Global Assumption member that is used to store currency information?

A. Account

B. From Currency

C. Entity

D. Currency

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

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.

For which three dimensions is security enabled by default?

A. Data Source

B. Entity

C. Consolidation

D. Scenario

E. Account

Which statement about the Equity Pickup feature is FALSE?

A. Seeded rule-sets are provided for Equity Pickup.

B. Equity Pickup rules run as part of the consolidation process.

C. Equity Pickup requires that the Ownership Management with Equity Pickup feature is enabled.

D. Equity Pickup rules are run on-demand from the Rules card by users with launch permissions.

Company 123 is a public company that reports in US Dollars. Company 123 owns Company XYZ, a European company that consolidates in Euro. One of the Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with a functional currency of the Swiss Franc. Which process produces USD balances for Company IOU?

A. A translation to the USD_Reporting currency member for Company IOU

B. A translation of Company IOU

C. A consolidation of Company 123

D. A consolidation of Company XYZ

E. A translation of Company XYZ to Parent Currency

Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled?

A. Ownership Percentage

B. Control

C. Consolidation Method

D. Consolidation Percentage

E. Minority Interest Percentage

Which three are seeded data forms created during business process creation?

A. Exchange Rate Multi-period

B. Override Rates

C. Shares Outstanding

D. Data Status

E. Headcount

To have access to Dimension Management from directly within Financial Consolidation and Close (FCCS) which security rights are required?

A. Metadata Administrator

B. Metadata Supervisor

C. System Administrator

D. Power User