Oracle Oracle Financial Consolidation and Close Cloud Service 1Z0-1081-22 Questions & Answers

• Question 111:

  Which three scenarios result in foreign currency translation during the default consolidation process? (Choose three.)

  A. A base entity currency has a parent entity with a matching default currency.

  B. A base entity currency has a parent entity with a different default currency.

  C. A parent entity has the same default currency as its parent.

  D. A parent entity has a different currency from its parent.

  E. A shared entity has a parent with a different currency.

  Correct Answer: BDE

• Question 112:

  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

  Correct Answer: ACEF

• Question 113:

  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.

  Correct Answer: B

• Question 114:

  Which statement is correct regarding intercompany eliminations?

  A. Intercompany eliminations are generally required to remove the effect of transactions within the company.

  B. Intercompany eliminations are required for sustainability reporting to show the company's waste output.

  C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.

  D. Intercompany eliminations are needed when a company divests itself of a division.

  Correct Answer: A

• Question 115:

  Which three fields must be defined when registering a file-based source system in Data Management? (Choose three.)

  A. Source Type

  B. Drill URL

  C. Cloud Type

  D. Description

  E. Name

  Correct Answer: ADE

• Question 116:

  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.

  Correct Answer: D