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

• Question 21:

  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

  Correct Answer: A

  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. Reference: https://docs.oracle.com/cd/E57185_01/OHFMU/form_pov.htm#OHFMU- Webdataforms472213

• Question 22:

  Which three are seeded data forms created during business process creation?

  A. Exchange Rate Multi-period

  B. Override Rates

  C. Shares Outstanding

  D. Data Status

  E. Headcount

  Correct Answer: ABD

• Question 23:

  What are two important first steps in initially setting up Task Manager?

  A. Set up Users.

  B. Define system settings such as Organization units, Holiday rules and Task attachment size.

  C. Assign tasks to users.

  D. Create a schedule and set it to Open status.

  Correct Answer: AB

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ cm_close_process_overview.html

• Question 24:

  Which statement is false regarding establishing security for Financial Consolidation and Close?

  A. Security can be assigned at a prevent level.

  B. Security is mandatory for one dimension.

  C. The Identity Domain Administrator inherits full access privileges.

  D. All members are accessible for dimensions with no security applied.

  E. Security can be disabled for any dimension.

  Correct Answer: D

  The Identity Domain Administrator is not a functional role; it does not inherit access privileges granted through functional roles. To access service features, the Identity Domain Administrator must be granted one of the four functional roles in Tax Reporting. Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/ admin_security_predefined_roles_112x5e7954a4.html

• Question 25:

  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

  Correct Answer: AC

  Optional - Only if selected during application creation.

  Reference: https://www.bisptrainings.com/pdf/pdf_docs/OracleFCCSGettingStartedGuideII20191116111928.pdf

• Question 26:

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

  A. Data Source

  B. Scenario

  C. Year

  D. Entity

  E. Consolidation

  F. Period

  Correct Answer: BDEF

  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 27:

  When designing a report in Financial Reporting Studio, which item is NOT an insert-able report object?

  A. Chart

  B. Grid

  C. Image

  D. Header

  Correct Answer: AB

  Report objects include: Grids Text Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management- common/frweb/ GUID-3559E92E-0EC6-42F8-BB48-97875171067E.pdf

• Question 28:

  Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled?

  A. Ownership Percentage

  B. Control

  C. Consolidation Method

  D. Consolidation Percentage

  E. Minority Interest Percentage

  Correct Answer: BCD

  The Consolidation Method and Control setting can be manually changed if needed. Reference: https://www.schgroup.com/resource/blog-post/major-functionality-release-manageownershiporacle-fccs/

• Question 29:

  Which statement correctly describes the Consolidation dimension?

  A. The dimension allows users to see input versus journal adjustment data.

  B. The dimension contains members to store non-controlling interest and joint venture data.

  C. The dimension uses a separate member for data from an entity's level zero descendants.

  D. The dimension allows users to view data in the parent currency.

  Correct Answer: D

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation- cloud/agfcc/consol_dim.html

• Question 30:

  What is the correct Currency dimension member to select when running an Intercompany Matching Report?

  A. Input Currency

  B. Reporting Currency

  C. Entity Currency

  D. Parent Currency

  Correct Answer: B

  Currency (Must be a Reporting Currency)

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/usfcc/

  setting_up_intercompany_matching_reports.html