Pass Your Exam Easily! 1Z0-1081-21 Real Question Answers Updated on Aug 15, 2022
Actual Questions Answers Pass With Real 1Z0-1081-21 Exam Dumps
NEW QUESTION 19
Which three scenarios result in foreign currency translation during the default consolidation process?
(Choose three.)
Response:
- A. A shared entity has a parent with a different currency.
- B. A base entity currency has a parent entity with a matching default currency.
- C. A parent entity has the same default currency as its parent.
- D. A base entity currency has a parent entity with a different default currency
- E. A parent entity has a different currency from its parent.
Answer: A,D,E
NEW QUESTION 20
What are two important first steps in initially setting up Task Manager?
- A. Define system settings such as Organization units, Holiday rules and Task attachment size.
- B. Assign tasks to users.
- C. Create a schedule and set it to Open status.
- D. Set up Users.
Answer: A,D
Explanation:
Explanation
Explanation/Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ cm_close_process_overview.html
NEW QUESTION 21
P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?
Response:
- A. January should be consolidated for the change and nothing needs to happen for February.
- B. January and February should be consolidated.
- C. There is no way to do a prior period entry like this.
- D. February should be consolidated, after which the cash at AceCo is now 65.
Answer: B
NEW QUESTION 22
Which two members of the Consolidation dimension cause the standard foreign currency translation rules to be ignored? (Choose two.)
- A. FCCS_Amount_Override
- B. FCCS_Rate Override
- C. FCCS_Translation
- D. FCCS_Proportion
- E. FCCS_Contribution
- F. FCCS_Elimination
Answer: B,F
NEW QUESTION 23
Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution?
(Choose three.)
Response:
- A. Ensure security of sensitive data.
- B. Provide predictive analysis and modeling.
- C. Provide a strong compliance framework that includes auditing and segregation of duties.
- D. Integrate with source systems.
Answer: A,C,D
NEW QUESTION 24
When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)
- A. Data Management
- B. Supplemental Data
- C. ERP Cloud
- D. ERP r12
Answer: A,B
NEW QUESTION 25
Which two data extract export file types are available within Financial Consolidation and Close (FCCS)?
(Choose two.)
- A. Excel XLS file type
- B. Comma delimited
- C. DAT file type
- D. Tab delimited
Answer: B,D
NEW QUESTION 26 
PQR Company has the ownership structure shown above.
If P_2 lends money to H_1, which point of view would the credit balance that offsets P_2's debit balance?
Response:
- A. Entity Paducah, Consolidation FCCS_Elimination, Intercompany ICP_H_1
- B. Entity P_2, Consolidation FCCS_Contribution, Intercompany H_1
- C. Entity P_2, Consolidation FCCS_Contribution, Intercompany ICP_H_1
- D. Entity PQR, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany
- E. Entity Paducah, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany
Answer: C
NEW QUESTION 27
What member of the Currency dimension should be used during data entry for historical override amounts?
- A. Parent Currency
- B. Input Currencies
- C. Entity Currency
- D. Reporting Currencies
Answer: D
NEW QUESTION 28
When designing a reportin Financial Reporting Studio, which item is NOT an insert-able report object?
- A. Chart
- B. Header
- C. Grid
- D. Image
Answer: A,C
Explanation:
Explanation/Reference:
Report objects include:
* Grids
* Text
Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/frweb/GUID-
3559E92E-0EC6-42F8-BB48-97875171067E.pdf
NEW QUESTION 29
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?
Response:
- A. you can't load data to this account
- B. this setting will not affect additions or subtractions to the next parent
- C. subtract amounts consolidated to the parent
- D. add amounts consolidated to the parent
Answer: B
NEW QUESTION 30
Which financial close related component isNOT a part of the Financial Consolidation and Close Cloud integrated product suite?
- A. Process Management
- B. Data Management
- C. Financial Close Management
- D. Supplemental Data Management
- E. Account Reconciliation Management
Answer: E
NEW QUESTION 31
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.)
Response:
- A. 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
- B. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls
- C. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
- D. provide the ability to collaborate during close and analyse transaction detail in real time
- E. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
Answer: A,C
NEW QUESTION 32
What is the function of Source Mapping in Data Management?
Response:
- A. Manage source periods in relation to global periods.
- B. Map local dimension members to the application dimension members.
- C. Defined the input currency for each data source supplying data to the application.
- D. Define the close calendar periods.
Answer: C
NEW QUESTION 33
When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set?
Response:
- A. Plug Account
- B. Is Plug Account
- C. Intercompany Account
- D. Intercompany Entity
Answer: A
NEW QUESTION 34
In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month?
Response:
- A. when the tasks are often late in completion and they need to be monitored more closely
- B. when the tasks are repeatable over multiple close cycles
- C. when the tasks require multiple levels of approvers
- D. when the tasks require consistent definition across close schedules
Answer: B
NEW QUESTION 35
Which statement correctly describes the Consolidation dimension?
- A. The dimension allows users to see input versusjournal adjustment data.
- B. The dimension uses a separate member for data from an entity's level zero descendants.
- C. The dimension allows users to view data in theparent currency.
- D. The dimension contains members to store non-controlling interest and joint venture data.
Answer: C
Explanation:
Explanation/Reference:https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/consol_dim.html
NEW QUESTION 36
For yourbusiness process, you need to modify the results calculated by the Balance the Balance Sheet system rule.D18912E1457D5D1DDCBD40AB3BF70D5D Which is the proper method to modify the results of the default Balance the Balance Sheet calculation?
- A. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.
- B. Click FinalCalculations on the Consolidation Process page and add a Configurable Calculation rule in Calculation Manager.
- C. Create an on-demand rule in Calculation Manager that you run after consolidation.
- D. Edit the numbers usinga web form or Smart View after consolidating.
Answer: A
Explanation:
Explanation
Explanation/Reference:
From the Consolidation Process page, select the Consolidated tab,and then selectConfigurable Consolidation.
Click the Create Rule Set.
Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ consolidation_creating_rule_sets.html
NEW QUESTION 37
What is the Data Storage value for an account that must remain at a historical exchange rate and not retranslate with current rates?
Response:
- A. Dynamic
- B. Store
- C. Dynamic Calc and Store
- D. No Rate
- E. Never Share
Answer: B
NEW QUESTION 38
In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month?
- A. when the tasks are often late in completion and they need to be monitored more closely
- B. when the tasks are repeatable over multiple close cycles
- C. when the tasks require multiple levels of approvers
- D. when the tasks require consistent definition across close schedules
Answer: B
Explanation:
Explanation
Explanation/Reference:
A task template defines a repeatable set of tasks required for a business process. It is used as a basis for creating schedules.D18912E1457D5D1DDCBD40AB3BF70D5D Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ cm_templates_managing.html
NEW QUESTION 39
Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?
- A. Period, Scenario, Base Entity and Parent Entity
- B. Year, Scenario, Base Entity and Account
- C. Scenario, Account, Base Entity and Parent Entity
- D. Scenario, View, Parent Entity and Account
Answer: A
NEW QUESTION 40
When designing a report in Financial Reporting Studio, which condition should NOT be considered for a Financial Consolidation and Close (FCCS) report?
- A. Report performance
- B. Expanded vs. single data segments
- C. Suppress missing blocks
- D. Designing dynamic reports
Answer: C
NEW QUESTION 41
When you set the Intercompany Account Attribute Value to Yes, which additional attribute must also be set?
- A. Plug Account
- B. Is Plug Account
- C. Intercompany Account
- D. Intercompany Entity
Answer: B
NEW QUESTION 42
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