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Oracle 1z0-1081-23 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?

A) Each period in the year must consolidate separately.
B) Years should be consolidated sequentially to ensure that rollforward calculations are correct.
C) There is no reason to consolidate years sequentially.
D) Parent account calculations depend on the sequencing.

2. 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
B) Financial
C) Journal
D) Consolidation

3. 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 template when setting up the Approval Unit hierarchy.
B) Delete the default Approval Unit hierarchy.
C) Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
D) Select users with the Service Administrator security role.

4. Which two statements are true about Enterprise Journals? (Choose two.)

A) You can assign a team as preparer or reviewer.
B) Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
C) Line items can only include entities that have been enabled for Enterprise Journals.
D) You cannot deploy Enterprise Journals to a period with Pending status.

5. Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

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

Solutions: