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

Oracle 1Z0-1081-24 Online Questions & Answers

• Question 51:

  Which financial close related component is NOT a part of the Financial Consolidation and Close Cloud integrated product suite?

  A. Process Management
  B. Account Reconciliation Management
  C. Data Management
  D. Supplemental Data Management
  E. Financial Close Management
  B. Account Reconciliation Management

• Question 52:

  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.
  B. January and February should be consolidated.

• Question 53:

  For your business process, you need to modify the results calculated by the Balance the Balance Sheet system rule.D18912E1457D5D1DDCBD40AB3BF70D5D Which is the proper method to modify the results of the default Balance the Balance Sheet calculation?

  A. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in Calculation Manager.
  B. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.
  C. Edit the numbers using a web form or Smart View after consolidating.
  D. Create an on-demand rule in Calculation Manager that you run after consolidation.
  B. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.

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  Explanation/Reference:

  From the Consolidation Process page, select the Consolidated tab, and then selectConfigurable Consolidation.

  Click the Create Rule Set.

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

• Question 54:

  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
  A. Base-level members under FCCS_Mvmts Subtotal
  B. Opening Balance

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  Explanation/Reference:

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

• Question 55:

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

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  Explanation/Reference:

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

• Question 56:

  Which two statements are true regarding the Copy Data function?

  A. You can copy data for historical rate and amount overrides.
  B. You cannot select which Account members to copy.
  C. You can select which Consolidation dimension member to copy.
  D. When you select the Regular Data option, journals data is included.
  A. You can copy data for historical rate and amount overrides.
  D. When you select the Regular Data option, journals data is included.

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  Explanation/Reference:

  You can copy these types of data:

  Regular Data (including journals)

  Override Data - rates and amounts entered on the Override Rates form for historical rate override accounts

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

• Question 57:

  Which two prebuilt calculations run on the Movement dimension to determine CTA by account?

  A. Prior Average Rate minus Current Average Rate multiplied by FCCS_Mvmts_Subtotal
  B. Prior Ending Rate minus Current Ending Rate divided by FCCS_Mvmts_Subtotal
  C. FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance carry forward
  D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal multiplied by Average Rate
  C. FCCS_OpeningBalance multiplied by Ending Rate minus FCCS_OpeningBalance carry forward
  D. FCCS_Mvmts_Subtotal multiplied by ending Rate minus FCCS_Mvmts_Subtotal multiplied by Average Rate

• Question 58:

  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
  A. Chart
  B. Grid

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  Explanation/Reference:

  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 59:

  A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not display. Which additional step is required to pull data in the new tab and change the POV?

  A. Disconnect from the Smart View connection, and relog in.
  B. Activate the Connection.
  C. Close out of Excel, and relog in to Smart View.
  D. Change one of the Row or Column dimension members and click Refresh.
  D. Change one of the Row or Column dimension members and click Refresh.

• Question 60:

  Which statement is FALSE when enabling a Multi-GAAP application?

  A. Two custom dimensions are available after enabling Multi-GAAP.
  B. The Multi-GAAP dimension is optional.
  C. The system automatically creates an FCCS_IFRS member.
  D. Additional GAAP adjustment can be created.
  A. Two custom dimensions are available after enabling Multi-GAAP.