Oracle 1Z0-1081-20 Online Practice Questions and Exam Preparation

Oracle 1Z0-1081-20 Online Questions & Answers

• Question 1:

  

  PQR Company has the ownership structure shown above. If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?

  A. First common parent
  B. Generation 0
  C. First order relation
  D. Lowest common denominator
  A. First common parent

• Question 2:

  If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

  A. The alias of the associated Intercompany member is automatically updated.
  B. The associated Intercompany member must be manually removed.
  C. The associated Intercompany member is automatically removed.
  D. The alias of the associated Intercompany member must be manually changed.
  A. The alias of the associated Intercompany member is automatically updated.

• Question 3:

  Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)

  A. FCCS_Journal Input
  B. FCCS_PCON
  C. FCCS_Intercompany Eliminations
  D. FCCS_No Data Source
  A. FCCS_Journal Input
  C. FCCS_Intercompany Eliminations

  ---

  Optional - Only if selected during application creation.

  Reference: https://www.bisptrainings.com/pdf/pdf_docs/OracleFCCSGettingStartedGuideII- 20191116111928.pdf

• Question 4:

  Financial Consolidation and Close maintains calculation status for which four dimensions?

  A. Data Source
  B. Scenario
  C. Year
  D. Entity
  E. Consolidation
  F. Period
  B. Scenario
  D. Entity
  E. Consolidation
  F. Period

  ---

  Oracle Financial Consolidation Close Cloud maintains the calculation status for each Scenario, Period, Entity and Parent entity combination. The calculation status indicates whether data needs to be translated or consolidated. Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation- cloud/agfcc/consol_calc.html

• Question 5:

  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
  B. Currency, Account, Movement

• Question 6:

  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
  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

  ---

  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. Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/ admin_valid_intersections_shared_members_and_rules_102x58c8d618.html

• Question 7:

  Which explains why the Currency dimension does NOT display in your application?

  A. Security access to the Multi-GAAP dimension is required
  B. Multi-Currency option was not selected at application creation
  C. Entity-specific security rights were not properly granted
  D. Security has not been granted
  B. Multi-Currency option was not selected at application creation

• Question 8:

  Which statement about the Equity Pickup feature is FALSE?

  A. Seeded rule-sets are provided for Equity Pickup.
  B. Equity Pickup rules run as part of the consolidation process.
  C. Equity Pickup requires that the Ownership Management with Equity Pickup feature is enabled.
  D. Equity Pickup rules are run on-demand from the Rules card by users with launch permissions.
  B. Equity Pickup rules run as part of the consolidation process.

• Question 9:

  How can Metadata be imported into any Financial Consolidation and Close (FCCS) application?

  A. by selecting Application, then Overview, then Dimensions, and then Export
  B. by selecting Dimension, then Import, and then Metadata
  C. by selecting Application, then Overview, then Dimensions, and then Import
  D. by selecting Tasks, then Metadata, and then Import
  C. by selecting Application, then Overview, then Dimensions, and then Import

• Question 10:

  When enabling Multi-GAAP during application creation, which additional option is available?

  A. Automatically calculate adjustment
  B. Allow adjustments for IFRS
  C. Track Multi-Source Data Input
  D. Include Supplemental Data
  A. Automatically calculate adjustment