Free 1Z0-1081-22 Exam Dumps PDF Preview

Question 1

Single choice

Which statement correctly describes when a consolidation can occur within a given year/scenario?

A
An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content.
B
The current period consolidation status is Impacted and the remaining periods are OK.
C
A user has a power user access but only write access to the entity.
D
A user with power user access first locks the entity so that other users cannot consolidate the same entity.
E
The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year.

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Correct answerB

Question 2

Single choice

Which statement accurately describes alternate hierarchies?

A
Single entities having multiple parents
B
Parent members having the same currency
C
Contribution to parent members are similar
D
Data must be entered multiple times for shared members

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Correct answerA

Question 3

Multiple choice

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
Integrate with source systems.
C
Provide predictive analysis and modeling.
D
Provide a strong compliance framework that includes auditing and segregation of duties.

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Correct answersA, B, D

Question 4

Single choice

Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different than the data in the FCCS_Proportion member?

A
A rate was entered into the FCCS_Rate Override account.
B
An ownership percentage for the entity other than 100 was entered.
C
An intercompany elimination was performed.
D
The parent entity has a different currency than the child.

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Correct answerC

Question 5

Multiple choice

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 of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

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.

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Correct answersB, E

Question 6

Single choice

Which statement is true of the default FCCS_members within an application?

A
You can change the default FCCS_member prefix at application creation.
B
You can change the Alias.
C
You can change the Data Storage property.
D
You can change the Name.

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Correct answerB

Explanation

The member names of the seeded accounts cannot be changed, but the aliases can.
References:
https://www.google.com/search?sxsrf=ALeKk01vTIkJ0rm1WblV1PEXOSkSLx2BmA%3A1613856380969&ei=fH4xYLrqOoj4gQbWz7-oDw&q=default+FCCS_+members+within+an+application+can+change+the+Alias&oq=default+FCCS_+members+within+an+application+can+change+the+Alias&gs_lcp=Cgdnd3Mtd2l6EAM6BwgAEEcQsAM6BAgjECc6BwghEAoQoAE6BAghEBVQ97gEWOXABGDQwQRoAXACeACAAaECiAHlCpIBAzItNZgBAKABAaoBB2d3cy13aXrIAQjAAQE&sclient=gwswiz&ved=0ahUKEwi6mLnCs_nuAhUIfMAKHdbnD_UQ4dUDCA0&uact=5

Question 7

Single choice

Once metadata is updated and the database refresh has completed successfully, how will the status for all entities be listed via the default Data Status grid?

A
Impacted
B
Need Translate
C
OK
D
System Changed (SC)

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Correct answerD

Explanation

The entity's calculation status must be OK, No Data, or System Change. You cannot lock an entity with Impacted calculation status.
References:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/
locking_and_unlocking_entities.html

Question 8

Single choice

If the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created, which statement is true?

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

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Correct answerA

Explanation

References:
https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/
admin_dimensions_intercompany_124x5ae77515.html

Question 9

Multiple choice

Which four sample ratios can be created during the application creation process? (Choose four.)

A
Inventory Ratios
B
Contribution Margin
C
Debt Ratio
D
Earnings per Share
E
Days Sales in Receivables
F
Gross Margin

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Correct answersA, C, E, F

Question 10

Single choice

How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?

A
Enable a dimension for Currency after application creation via a Metadata load.
B
During application creation, select the Multicurrency option of "No" and insert additional currencies within the Currency dimension.
C
During application creation, select the Multicurrency option of "Yes".
D
Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.

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Correct answerA

Explanation

Enable a dimension for Currency after application creation via a Metadata load.
References:
https://alexandertechniqueworkshops.com/5dmqxf1u/55aba3-fccs-currency-dimension

Question 11

Single choice

Which financial close related component is NOT a part of the Financial Consolidation and Close Cloud integrated product suite?

A
Process Management
B
Account Reconciliation Management
C
Data Management
D
Supplemental Data Management
E
Financial Close Management

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Correct answerB

Question 12

Multiple choice

For which three dimensions is security enabled by default?

A
Data Source
B
Entity
C
Consolidation
D
Scenario
E
Account

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Correct answersB, D, E

Explanation

By default, the Account, Entity, Scenario, and Data Source dimensions.
References:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/dimension_security.html

Question 13

Multiple choice

When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)

A
ERP Cloud
B
Supplemental Data
C
Data Management
D
ERP r12

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Correct answersB, C

Question 14

Single choice

Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?

A
Consolidation, Currency, Account
B
Currency, Account, Movement
C
Entity, Consolidation, Currency
D
Entity, Currency, Account

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Correct answerB

Question 15

Single choice

When designing a report in Financial Reporting Studio, which condition should NOT be considered for a Financial Consolidation and Close (FCCS) report?

A
Designing dynamic reports
B
Expanded vs. single data segments
C
Report performance
D
Suppress missing blocks

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Correct answerD

Question 16

Single choice

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

Which statement is true?

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 be available.
D
The ICP dimension will be omitted.

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Correct answerD

Question 17

Single choice

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

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.

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Correct answerB

Question 18

Single choice

You need to define a form that requires users to select the entity for which to view data from a list that includes USA, Canada, and South America, but no other entities.

Where on the form do you place the Entity dimension?

A
the Point of View
B
rows
C
columns
D
the Page Axis

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Correct answerA

Explanation

The point of view is displayed on the top of the form. Elements that can be changed are displayed as links in the point of view. For example, if the Entity dimension is displayed as a link, you can change the entity but not the other dimensions in the point of view.
References:
https://docs.oracle.com/cd/E57185_01/OHFMU/form_pov.htm#OHFMU-
Webdataforms472213

Free 1Z0-1081-22 Exam Dumps Preview

Oracle Financial Consolidation and Close 2022 Implementation Professional

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