1z1-983 Exam Training Practice Tests (Oracle Financial Consolidation and Close Cloud Service 2017 Implementation Essentials)]

Question 1

Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? (Choose three.)

A. Ensure security of sensitive data. B. Provide a strong compliance framework that includes auditing and segregation of duties. C. Integrate with source systems. D. Provide predictive analysis and modeling.

Correct Answer: A,B,C

Question 2

Which statement is FALSE when setting up Shared Entities?

A. You build an alternate hierarchy by using partial share Entity members. B. When data is posted to one shared entity, the data is posted to all instances. C. The Data Storage Member Property must set to "Dynamic Calc". D. The calculation status will not change in all instances when data is changed in one instance.

Correct Answer: C

Question 3

Which statement is true regarding Data Management categories?

A. Categories must begin with FCCS_ to match their Financial Consolidation and Close counterparts. B. The category's time frequency allows data to be loaded to daily, weekly, and monthly scenarios. C. Categories are defined on the Global Mapping tab and then the frequency is specified on the Application Mapping tab D. Application mapping is not required if the global mapping target category is exactly correct.

Correct Answer: A

Question 4

Which is true behavior of default FCCS_ members within an application?

A. You cannot change the Alias of these default FCCS_ members. B. You can change the default FCCS_ member prefix at application creation. C. You can change the Name of these default FCCS_ members at any time. D. You can change the Alias of these default FCCS_ members at any time.

Correct Answer: C

Question 5

When can the Intercompany Dimension be enabled and n=made visible within your application?

A. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute B. during application creation and selecting Multi-source Data Input of Other Data C. after application creation by selecting any Entity as IC_Entity_Yes for the Intercompany Entity attribute D. during application creation and selecting the Intercompany Data feature option

Correct Answer: D

Question 6

What is the primary function of enabling the Track Intercompany Elimination option during the application creation?

A. enables the application to perform Intercompany eliminations B. enables the Elimination member in the Consolidation dimension C. enables the application to include Intercompany data. D. process will separate total elimination values by Data Source.

Correct Answer: D

Question 7

In which two instances will the FCCS_Mvmts_FX_to_CTA movement member populate in a translated currency?

A. The current FCCS_CTA account balance does not change from the prior period B. The account is FCCS_Net Income C. A variance in the Average rate and the Ending rate D. Movement of FX impact for historical rate accounts to the FCCS_CTA account

Correct Answer: A

Question 8

Which two members of the Consolidation dimension cause the standard foreign currency translation rules to be ignored? (Choose two.)

A. FCCS_Elimination B. FCCS_Proportion C. FCCS_Contribution D. FCCS_Rate Override E. FCCS_Translation F. FCCS_Amount_Override

Correct Answer: A,D

Question 9

When defining a batch in Data Management, which statement is True?

A. A batch can load to multiple plan types. B. Batches can execute data loads for multiple locations. C. Batches can import from source or export to target, but not both. D. A batch replaces the need for data load rules. E. Each data load rule must specify the period or the batch will default to the POV period.

Correct Answer: D

Oracle Financial Consolidation and Close Cloud Service 2017 Implementation Essentials - 1z1-983 Exam Practice Test