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

• Question 41:

  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

  Correct Answer: AB

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

• Question 42:

  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

  Correct Answer: A

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

• Question 43:

  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)

  Correct Answer: D

  The entity's calculation status must be OK, No Data, or System Change. You cannot lock an entity with

  Impacted calculation status.

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

  locking_and_unlocking_entities.html

• Question 44:

  The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting. To define a Close Manager task template to monitor all seven days, which day range should you define?

  A. Day -3 to Day 4

  B. Day -3 to Day 3

  C. Day 1 to Day 7

  D. Day -2 to Day 4

  Correct Answer: C

• Question 45:

  For which scenario would an On-Demand rule be an appropriate solution?

  A. to perform a custom currency translation for a subset of accounts

  B. to add a column with a calculation to a report

  C. to copy data from one scenario to a different scenario

  D. to allocate data to base entities prior to consolidation

  Correct Answer: C

  Copy data from one scenario to another one.

  Reference: https://neonn.com/alwayson/demand-rules-hfm/

• Question 46:

  Which two are required fields when registering a source system in Data Management?

  A. Source System Type

  B. Cloud Type

  C. Drill Through URL

  D. Name

  Correct Answer: CD

  Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management- common/erpia/ registering_file-based_source_systems.html

• Question 47:

  To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?

  A. Intercompany Accounts

  B. Intercompany Partners

  C. Intercompany Plug Accounts

  D. Elimination Consolidation Dimension member

  Correct Answer: B

  Intercompany Partner (ICP) Matching reports list the intercompany transactions that are eliminated during consolidation. Intercompany transactions are managed across the Intercompany Partner dimension.

  Reference: https://docs.oracle.com/cd/E57185_01/HFMAG/ch09s02.html

• Question 48:

  What is the function of Source Mapping in Data Management?

  A. Map local dimension members to the application dimension members.

  B. Manage source periods in relation to global periods.

  C. Defined the input currency for each data source supplying data to the application.

  D. Define the close calendar periods.

  Correct Answer: C

  Data Management supports the ability to load data that is of a currency different from the default currency of the selected location. This option enables you to specify the location in the input line that specifies the currency for the related amount field. Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management- common/erpia/ GUIDF8001C5A-A922-43C7-A0C6-4025F1EB7BDF.pdf

• Question 49:

  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.

  Correct Answer: A

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

• Question 50:

  For which three dimensions is security enabled by default?

  A. Data Source

  B. Entity

  C. Consolidation

  D. Scenario

  E. Account

  Correct Answer: BDE

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