Welcome to TestSimulate

Pass Your Next Certification Exam Fast!

Everything you need to prepare, learn & pass your certification exam easily.

365 days free updates. First attempt guaranteed success.

Oracle Financial Consolidation and Close 2021 Implementation Essentials (1Z0-1081-21) Free Practice Test

Question 1
By default, security access is set to "None" for which three dimensions? (Choose three.)

Correct Answer: A,B,E
Question 2
Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution?

Correct Answer: A
Question 3
When enabling Multi-GAAP during application creation, which additional option is available?

Correct Answer: A
Question 4
You have added a new task to a close schedule with a task due date past the defined end date of the schedule.
What isthe result of the change?

Correct Answer: B
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 5
Which statement is FALSE when Intercompany Data is enabled?

Correct Answer: C
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 6
Which statement correctly describes the Consolidation dimension?

Correct Answer: C
Question 7
Which statement is FALSE when setting up Shared Entities?

Correct Answer: D
Question 8
For yourbusiness 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?

Correct Answer: A
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 9
Which statement is true regarding shared members and valid intersection rules?

Correct Answer: A,D
Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).
Question 10

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?

Correct Answer: D