Weekend Sale Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: 70percent

Certensure Logo
  1. Home
  2. Oracle
  3. Oracle Financial Consolidation and Close Cloud Service
  4. 1z0-1081-22 - Oracle Financial Consolidation and Close 2022 Implementation Professional

Oracle 1z0-1081-22 Oracle Financial Consolidation and Close 2022 Implementation Professional Exam Practice Test

Demo: 17 questions
Total 116 questions
Get 1z0-1081-22 Full Access Download 1z0-1081-22 PDF

Oracle Financial Consolidation and Close 2022 Implementation Professional Questions and Answers

Question 1

When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set?

Options:

A.

Plug Account

B.

Intercompany Account

C.

Is Plug Account

D.

Intercompany Entity

Question 2

Which statement correctly describes the Consolidation dimension?

Options:

A.

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

B.

The dimension uses a separate member to storedata 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.

Question 3

What can the Intercompany Dimension be enabled and made visible within your application?

Options:

A.

after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute

B.

during application creation and selecting the Intercompany Data feature option

C.

after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Entity attribute

D.

during application creation and selecting the Multi-source Data Input of Other Data

Question 4

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 wouldOracle’s Financial Consolidation and Close Cloud Service satisfy? (Choose two.)

Options:

A.

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

B.

dashboard reportingwith 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

Question 5

Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)

Options:

A.

The Cash Change hierarchy cannot be modified.

B.

All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in theFCCS_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.

Question 6

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

Options:

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.

Question 7

Which financial close related component isNOT a part of the Financial Consolidation and Close Cloud integrated product suite?

Options:

A.

Process Management

B.

Account Reconciliation Management

C.

Data Management

D.

Supplemental Data Management

E.

Financial Close Management

Question 8

When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.

Which statement is true?

Options:

A.

The FCCS_No Intercompany member of the ICP dimension will be used for all data.

B.

Data can be stored by intercompany partner but no eliminations will occur.

C.

An extra custom dimension will beavailable.

D.

The ICP dimension will be omitted.

Question 9

What member of the Currency dimension should be used during data entry for historical override amounts?

Options:

A.

Parent Currency

B.

Input Currencies

C.

Reporting Currencies

D.

Entity Currency

Question 10

Which of the following is allowed for accounts with the data storage type of “Dynamic Calc”?

Options:

A.

Load data to this account.

B.

Create member formulas.

C.

Load data to this account and create member formulas.

D.

Enter data through a data form

Question 11

For which three tasks can Data Management be used? (Choose three.)

Options:

A.

loading data that is period-to-date or year-to-date

B.

drilling through from a web form or Smart View

C.

loading data from a fixed width or delimited textfile

D.

writing back data to source systems

E.

loading a Metadata Import File

Question 12

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

Options:

A.

Ownership Percentage

B.

Control

C.

Consolidation Method

D.

Consolidation Percentage

E.

Minority Interest Percentage

Question 13

A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary’s functional currency is USD.

Which two items facilitate the reporting ofthe subsidiary’s Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

Options:

A.

Common Stock must have an Exchange Rate Type set to Historical Rate Override.

B.

The subsidiary must have a balance not equal to zero in Common Stock.

C.

Common Stock must have a Data Storage property set to Never Share.

D.

USD must be created as a reporting currency.

E.

The subsidiary must have a parent entity with a GBP currency.

Question 14

Which three scenarios result in foreign currency translation during the default consolidation process?

Options:

A.

A parent entity has a different default currency than its parent.

B.

A parententity has the same default currency as its parent.

C.

A base entity has a different default currency than its parent.

D.

A base entity has the same default currency as its parent.

E.

A shared entity has a different default currency than its parent

Question 15

Which two statements are correct with regard to Data Management locations? (Choose two.)

Options:

A.

A company with three instances of Oracle EBS R12 should only use one location to maintain proper accounting controls.

B.

Location securityallows users to be provisioned in Shared Services for read or modify access to each location.

C.

Locations can share dimension member mappings by specifying a location as a parent location of others.

D.

The logic account group is required in order to effect running of calculations after the data load.

E.

Locations must specify an import format, which may be used by other locations.

F.

Data load rules can be shared across locations.

Question 16

To show theIntercompany account and matching account balances on the Intercompany Matching Report, you make which selection?

Options:

A.

Intercompany Accounts

B.

Intercompany Partners

C.

Intercompany Plug Accounts

D.

Elimination Consolidation Dimension member

Question 17

What will Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?

Options:

A.

This setting does not affect aggregation to the parent.

B.

You cannot load data to this account.

C.

Addamounts aggregated to the parent.

D.

Subtract amounts aggregated to the parent.

Load More 1z0-1081-22 Questions
Demo: 17 questions
Total 116 questions
Get 1z0-1081-22 Full Access Download 1z0-1081-22 PDF