Oracle Financial Consolidation and Close 2022 Implementation Professional (1z0-1081-22) Free Practice Test

Question 1

Three child entities - P, Q, and R - of a mid-level parent entity - AceCo - have account receivables in the amounts of 10, 20, and 30, respectively.
Which statement contains conditions for all three entities that would cause the account receivable balance amount at AceCo not to be 60?

A. P has a different currency than AceCo, Q is 40% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.

B. P has a different currency than AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.

C. P has the same currency as AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.

D. P has the same currency as AceCo, Q is 90% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.

Correct Answer: D

Question 2

What file type / file extension format extracts data exports from Financial Consolidation and Close (FCCS)?

A. The data export format / file extension is always extracted in a DAT file format.

B. The data export format / file extension is always extracted in a XLS file format.

C. The data export format / file extension is always extracted in a CSV file format.

D. The data export format / file extension is always extracted in a ZIP file format.

Correct Answer: C

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Question 3

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 as owners only users with the Service Administrator or Power User security role.

C. Select the Consolidation template when setting up the Approval Unit hierarchy.

D. Delete the default Approval Unit hierarchy.

Correct Answer: C

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Question 4

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 Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation rule-set.

B. Edit the numbers using a web form or Smart View after consolidating.

C. Create an on-demand rule in Calculation Manager that you run after consolidation.

D. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in Calculation Manager.

Correct Answer: A

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Question 5

You are
required to create a form that allows users to input dat
a. Which three actions are consistent with this?

A. Set the currency on the form to Parent Currency.

B. Select level 0 dimension members for the POV, rows, and columns.

C. Set the consolidation member on the form to FCCS_Entity Input.

D. Grant the data input users WRITE access to the dimension members used on the form.

E. In the member selection for Entity, do not include shared entities, include only primary instances of entities.

Correct Answer: B,C,D

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Question 6

For data load rules in Data Management, which two statements are FALSE?

A. If specified, the import format will be used; if not, then the location's format will be used.

B. A job must first run to import the data file before the user can run the data load rule.

C. Valid load types are Merge and Replace.

D. End users can upload a file when running a data load rule.

E. Data load rules cannot be shared across locations.

Correct Answer: B,C

Question 7

Which four
sample ratios can be selected during business process creation?

A. Contribution Margin

B. Earnings per Share

C. Gross Margin

D. Inventory Ratios

E. Debt Ratio

F. Days Sales in Receivables

Correct Answer: A,B,C,F

Question 8

For which
scenario would an On-Demand rule be an appropriate solution?

A. to allocate data to base entities prior to consolidation

B. to add a column with a calculation to a report

C. to copy data from one scenario to a different scenario

D. to perform a custom currency translation for a subset of accounts

Correct Answer: C

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Question 9

Which statement correctly describes what happens to parent entities during consolidation?

A. The data in the FCCS_Intercompany Eliminations Data Source dimension member is subtracted from the FCCS_TotalInputAndAdjusted Data Source dimension member for each descendant and then added together.

B. Since parent entities are tagged as dynamic calc, the consolidation has no effect on the entity dimension.

C. The changes in the relational database are synced to the underlying Essbase cube.

D. From each child of the entity, data from the FCCS_Contribution Consolidation dimension member is added together and stored in the FCCS_Entity Consolidation member of the entity.

Correct Answer: D

Question 10

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 be available.

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.

Correct Answer: B

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Oracle Financial Consolidation and Close 2022 Implementation Professional (1z0-1081-22) Free Practice Test