Oracle Financial Consolidation and Close 2020 Implementation Essentials (1Z0-1081-20) Free Practice Test

Question 1

How can Metadata be imported into any Financial Consolidation and Close (FCCS) application?

A. by selecting Dimension, then Import, and then Metadata

B. by selecting Application, then Overview, then Dimensions, and then Import

C. by selecting Application, then Overview, then Dimensions, and then Export

D. by selecting Tasks, then Metadata, and then Import

Correct Answer: B

Question 2

When enabling Multi-GAAP during application creation, which additional option is available?

A. Automatically calculate adjustment

B. Track Multi-Source Data Input

C. Include Supplemental Data

D. Allow adjustments for IFRS

Correct Answer: A

Question 3

Which two statements are true about Cash Flow in the Movement dimension?

A. You can add shared members to the FCCS_CashChange hierarchy.

B. When you add a level 0 member to FCCS_Mvmts_Subtotal, it is automatically added as a shared member to the FCCS_CashFlow hierarchy.

C. The seeded level 0 members under FCCS_Mvmts_Subtotal are shared members in the FCCS_CashFlow hierarcy.

D. The FCCS_Mvmts_AccountsPayable member is under FCCS_CashFlow_NetAssets in the FCCS_CashFlow hierarchy.

Correct Answer: B,C

Question 4

What information is included in the data extract export file delimited format?

A. the ID of the user performing the extract

B. the data load cube name

C. the domain and application name

D. the application name

Correct Answer: A

Question 5

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. January should be consolidated for the change and nothing needs to happen for February.

B. January and February should be consolidated.

C. February should be consolidated, after which the cash at AceCo is now 65.

D. There is no way to do a prior period entry like this.

Correct Answer: B

Question 6

Which item describes the use for the Currency dimension property Triangulation Currency?

A. The ability to calculate CTA (Cumulative Translation Adjustment)

B. The ability to calculate foreign exchange rates

C. The ability to report in multiple currencies

D. The ability to force translations

E. The ability to input foreign exchange rates

Correct Answer: B

Question 7

How is drill-back enabled to Supplemental Data Manager (SDM) from the Supplemental Data member within the Multi-source dimension?

A. Drill-back to SDM is not an available feature.

B. By selecting Track Multi-source Data Input option for Supplemental Data during the application creation process.

C. Drill-back is available from any Multi-source dimension member by default, know the source of the origination data load.

D. By selecting Track Multi-source Data Input option for Other Data during the application creation process.

Correct Answer: C

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Oracle Financial Consolidation and Close 2020 Implementation Essentials (1Z0-1081-20) Free Practice Test