Oracle 1Z0-1081-24 Online Practice Questions and Exam Preparation

Oracle 1Z0-1081-24 Online Questions & Answers

• Question 11:

  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
  C. Day 1 to Day 7

• Question 12:

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

  A. Category
  B. Source System
  C. System
  D. User
  E. Application
  C. System
  D. User
  E. Application

• Question 13:

  Which two statements are true of the roll forward calculation in the Movement dimension?

  A. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
  B. Translated values for Closing Balance are adjusted to the ending rate for the period.
  C. Values for Opening Balance are retrieved from the prior period Closing Balance.
  D. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
  B. Translated values for Closing Balance are adjusted to the ending rate for the period.
  C. Values for Opening Balance are retrieved from the prior period Closing Balance.

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  Explanation/Reference:

  If Entity currency and Parent currency Closing Balance data does not exist in the prior period, then the Ending Rate for the prior period is used.

  Opening balance is calculated from the prior period's Closing Balance.

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

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

• Question 14:

  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

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  Explanation/Reference:

  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 15:

  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
  D. the Point of View

• Question 16:

  For your business process, owners of approval units should be able to lock and unlock data without going.

  through an approval process.

  Which action should you perform?

  A. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
  B. Select the Consolidation template when setting up the Approval Unit hierarchy.
  C. Delete the default Approval Unit hierarchy.
  D. Select as owners only users with the Service Administrator or Power User security role.
  B. Select the Consolidation template when setting up the Approval Unit hierarchy.

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  Explanation/Reference:

  To lock or unlock an entity, you must create an approval unit hierarchy containing the entities you want to lock.

  By default, Financial Consolidation and Close provides an approval unit named "Total Geography".

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

• Question 17:

  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.
  B. The Intercompany Alias is automatically changed to the new Entity Alias.

• Question 18:

  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.
  A. In the metadata editor, select Enabled for the Intercompany property for the Entity dimension.

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  Explanation/Reference:

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

• Question 19:

  In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month?

  A. when the tasks are repeatable over multiple close cycles
  B. when the tasks require consistent definition across close schedules
  C. when the tasks are often late in completion and they need to be monitored more closely
  D. when the tasks require multiple levels of approvers
  A. when the tasks are repeatable over multiple close cycles

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  Explanation/Reference:

  A task template defines a repeatable set of tasks required for a business process. It is used as a basis for creating schedules.D18912E1457D5D1DDCBD40AB3BF70D5D Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ cm_templates_managing.html

• Question 20:

  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