Oct-2022 Oracle 1Z0-1081-21 Actual Questions and 100% Cover Real Exam Questions
1Z0-1081-21 Free Exam Questions and Answers PDF Updated on Oct-2022
NEW QUESTION 48
When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.
Which statement is true?
- A. An extra custom dimension will beavailable.
- B. The ICP dimension will be omitted.
- C. The FCCS_No Intercompany member of the ICP dimension will be used for all data.
- D. Data can be stored by intercompany partner but no eliminations will occur.
Answer: B
NEW QUESTION 49
Company 123 is a public company that reports in US Dollars. Company 123 owns Company XYZ, a European company that consolidates in Euro.
One of the Company XYZ's subsidiaries is Company IOU, headquartered in Switzerland with a functional currency of the Swiss Franc.
Which process produces USD balances for Company IOU?
Response:
- A. A translation to the USD_Reporting currency member for Company IOU
- B. A consolidation of Company 123
- C. A translation of Company IOU
- D. A translation of Company XYZ to Parent Currency
- E. A consolidation of Company XYZ
Answer: A
NEW QUESTION 50 
PQR Company has the ownership structure shown above.
If P_2 lends money to H_1, which point of view would the credit balance that offsets P_2's debit balance?
- A. Entity PQR, Consolidation FCCS_Elimination, Intercompany FCCS_NoIntercompany
- B. Entity Paducah, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany. Entity P_2, Consolidation FCCS_Contribution, Intercompany ICP_H_1
- C. Entity P_2,Consolidation FCCS_Contribution, Intercompany H_1
- D. Entity Paducah, Consolidation FCCS_Elimination, Intercompany ICP_H_1
Answer: D
NEW QUESTION 51
When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?
- A. 12-month only
- B. 12-month, 13-month and a 14-month
- C. Any number of months can be selected
- D. 12-month and 13-month
Answer: D
NEW QUESTION 52
Which statement is FALSE when Intercompany Data is enabled?
Response:
- A. Intercompany accounts are assigned plug accounts.
- B. The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.
- C. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
- D. Tracking intercompany eliminations is optional.
Answer: C
NEW QUESTION 53
Which selection enables data to be imported directly into any Financial Consolidation and Close (FCCS) application?
Response:
- A. Select Import, then Actions, and then Data
- B. Select Dimensions, then Actions, and then Import Data
- C. Select Application, then Overview, then Data, and then Export
- D. Select Application, then Overview, then Actions, and then Import Data
Answer: D
NEW QUESTION 54
When enabling Multi-GAAP during application creation, which additional option is available?
Response:
- A. Include Supplemental Data
- B. Track Multi-Source Data Input
- C. Automatically calculate adjustment
- D. Allow adjustments for IFRS
Answer: C
NEW QUESTION 55
Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)?
Response:
- A. FCCS_No Data Source
- B. FCCS_SystemTypes
- C. FCCS_Proportion
- D. FCCS_Data Input
Answer: C
NEW QUESTION 56
Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution?
(Choose three.)
Response:
- A. Integrate with source systems.
- B. Ensure security of sensitive data.
- C. Provide a strong compliance framework that includes auditing and segregation of duties.
- D. Provide predictive analysis and modeling.
Answer: A,B,C
NEW QUESTION 57
Which three are seeded data forms created during business process creation?
- A. Shares Outstanding
- B. Exchange Rate Multi-period
- C. Headcount
- D. Override Rates
- E. Data Status
Answer: B,D,E
NEW QUESTION 58
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?
Response:
- A. Other Options section
- B. a column
- C. the Page Axis
- D. the Point of View
Answer: D
NEW QUESTION 59
If the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created, which statement is true?
Response:
- A. An extra custom dimension is available.
- B. The FCCS_No Intercompany member of the ICP dimension is used for all data.
- C. The ICP dimension is omitted.
- D. Data can be stored by intercompany partner but no eliminations will occur.
Answer: B
NEW QUESTION 60
Which statement is correct regarding intercompany eliminations?
Response:
- A. Intercompany eliminations are needed when a company divests itself of a division.
- B. Intercompany eliminations are generally required to remove the effect of transactions within the company.
- C. Intercompany eliminations are required for sustainability reporting to show the company's waste output.
- D. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.
Answer: B
NEW QUESTION 61
Which two statements are true regarding the Copy Data function?
- A. You cannot select which Account members to copy.
- B. When you select the Regular Data option, journals data is included.
- C. You can copy data for historical rate and amount overrides.
- D. You can select which Consolidation dimension member to copy.
Answer: B,C
Explanation:
Explanation
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
NEW QUESTION 62
Which two are required fields when registering a source system in Data Management?
Response:
- A. Name
- B. Drill Through URL
- C. Source System Type
- D. Cloud Type
Answer: A,B
NEW QUESTION 63
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