1Z0-1081-20 by Oracle Valid Free Exam Practice Test

Question 1

In the Movement dimension, for which two can you modify the default translation calculation?

A. Base-level members under FCCS_Mvmts Subtotal B. Closing Balance C. Opening Balance D. Opening Balance Input

Correct Answer: A,C

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Question 2

Which two statements are true of the roll forward calculation in the Movement dimension?

A. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance. B. Translated values for Closing Balance are adjusted to the ending rate for the period. C. Data for opening balances must be loaded to the Opening Balance member prior to consolidation. D. Values for Opening Balance are retrieved from the prior period Closing Balance.

Correct Answer: B,D

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Question 3

You are required to create a form to allow users to input dat
a. Which three actions or form components selected should accomplish this?

A. Set access rights for data input users to the form B. Level 0 dimension members on POV, rows and columns C. Give data input users WRITE access to form dimension members D. Set the currency on the form to the reporting currency member USD_Reporting

Correct Answer: A,B,C

Question 4

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

A. Create a Roll Forward in the account dimension. B. Add custom members for Additions and Disposals as children of FCCS_Mvmts_CapitalExpenditures. C. Build a custom Movement member for Fixed Assets with child members for Additions and Disposals. D. Load detailed Fixed Asset data to Movement members. E. Add custom Movement members to the FCCS_CashFlow hierarchy.

Correct Answer: A,D,E

Question 5

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. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness B. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint C. 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 D. provide the ability to collaborate during close and analyse transaction detail in real time E. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls

Correct Answer: C,E

Question 6

PQR Company has the ownership structure shown above.
If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?

A. Lowest common denominator B. Generation 0 C. First order relation D. First common parent

Correct Answer: D

Question 7

You are required to define a form that displays all form data for only specific View dimension member and not allow users to change this.
Where on the form do you define the View dimension and select the correct member?

A. the Point of View B. Other Options section C. a column D. the Page Axis

Correct Answer: A

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_Entity Consolidation C. FCCS_Proportion D. FCCS_Contribution E. FCCS_Entity Input F. FCCS_Entity Total

Correct Answer: B,D,E,F

Question 9

When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.
Which statement is true?

A. Data can be stored by intercompany partner but no eliminations will occur. B. The ICP dimension will be omitted. C. The FCCS_No Intercompany member of the ICP dimension will be used for all data. D. An extra custom dimension will be available.

Correct Answer: B

Question 10

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. Intercompany Report B. Consolidation Report C. Financial Report D. Journal Report

Correct Answer: B

Oracle Financial Consolidation and Close 2020 Implementation Essentials - 1Z0-1081-20 Exam Practice Test