Free 1Z0-1081-24 Exam Dumps PDF Preview

Question 1

Single choice

How can the Intercompany dimension be enabled within your application?

A
In the metadata editor, select Enabled for the Intercompany property for the Entity dimension.
B
In the metadata editor, select IC_Acc_Yes for the Intercompany property for any account.
C
During application creation, select the Intercompany Data option.
D
In the metadata editor, select IC_Entity_Yes for the Intercompany Entity property for any entity.

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Correct answerA

Explanation

References:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/
intercompany_property_for_entities.html

Question 2

Multiple choice

Which two statements are true about Cash Flow in the Movement dimension?

A
When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.
B
The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.
C
You can add shared members to the FCCS_CashChange hierarchy.
D
The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.

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Correct answersA, B

Question 3

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 4

Multiple choice

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.

Which three tasks are necessary to achieve this goal?

A
Add custom members for Additions and Disposals as children of FCCS_Mvmts_CapitalExpenditures.
B
Build a custom Movement member for Fixed Assets with child members for Additions and Disposals.
C
Load detailed Fixed Asset data to Movement members.
D
Add custom Movement members to the FCCS_CashFlow hierarchy.
E
Create a Roll Forward in the account dimension.

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Correct answersC, D, E

Question 5

Multiple choice

In the Movement dimension, for which two can you modify the default translation calculation?

A
Base-level members under FCCS_Mvmts Subtotal
B
Opening Balance
C
Closing Balance
D
Opening Balance Input

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Correct answersA, B

Explanation

References:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATIONDEVELOPMENT-TEAM-E93973-628A1C2A.pdf
http://www.allreadable.com/3128VWfe

Question 6

Single choice

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
Consolidation Report
B
Journal Report
C
Intercompany Report
D
Financial Report

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Correct answerA

Explanation

References:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/
consolidation_report.html

Question 7

Multiple choice

Which statement is true regarding shared members and valid intersection rules?

A
Shared members are supported in valid intersection rules
B
If a shared member is selected for a valid intersection rule, then the base member is not included in the
rule
C
If a base member is included in a valid intersection rule, then any shared member is not included in the rule
D
Shared members are not supported in valid intersection rules

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Correct answersC, D

Explanation

Shared members are supported in valid intersection rules. If a base member is selected for a valid intersection rule, any shared members are also included in the rule.
References:
https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/
admin_valid_intersections_shared_members_and_rules_102x58c8d618.html

Question 8

Single choice

Three child entities - P, Q, and R - of a mid-level parent entity - AceCo - have account receivables in the amounts of 10, 20, and 30, respectively.

Which statement contains conditions for all three entities that would cause the account receivable balance amount at AceCo not to be 60?

A
P has the same currency as AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.
B
P has the same currency as AceCo, Q is 90% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.
C
P has a different currency than AceCo, Q is 40% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.
D
P has a different currency than AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany
receivable balance with Q.

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Correct answerB

Question 9

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 10

Multiple choice

For which three levels can Profiles be set in Data Management?

A
Category
B
Source System
C
System
D
User
E
Application

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Correct answersC, D, E

Question 11

Multiple choice

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

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

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Correct answersA, C, E

Question 12

Multiple choice

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.

Which three tasks are necessary to achieve this goal? (Choose three.)

A
Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals
B
Add custom members for Additions and Disposals as dependents of FCCS_Mvmts_CapitalExpenditures.
C
Load detailed Fixed Asset data to Movement members.
D
Add custom Movement members to the FCCS_CashFlow hierarchy.
E
Create a Roll Forward in the account dimension.

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Correct answersA, B, C

Question 13

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 14

Single choice

Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

A
Scenario, Account, Base Entity and Parent Entity
B
Year, Scenario, Base Entity and Account
C
Scenario, View, Parent Entity and Account
D
Period, Scenario, Base Entity and Parent Entity

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Correct answerD

Question 15

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 16

Single choice

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?

A
There is no way to do a prior period entry like this.
B
January and February should be consolidated.
C
February should be consolidated, after which the cash at AceCo is now 65.
D
January should be consolidated for the change and nothing needs to happen for February.

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Correct answerB

Question 17

Single choice

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

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

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Correct answerC

Question 18

Single choice

You are required to define a form that displays all form data for only specific View dimension member and not allow users to change this.

Where on the form do you define the View dimension and select the correct member?

A
a column
B
Other Options section
C
the Page Axis
D
the Point of View

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Correct answerD

Free 1Z0-1081-24 Exam Dumps Preview

Oracle Financial Consolidation and Close 2024 Implementation Professional

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