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1Z0-1081-24 Updated Exam Dumps [2025] Practice Valid Exam Dumps Question
NEW QUESTION # 94
When designing a report in Financial Reporting Studio, which item is NOT an insert-able report object?
- A. Grid
- B. Image
- C. Chart
- D. Header
Answer: A,C
Explanation:
Report objects include:
Grids
Text
3559E92E-0EC6-42F8-BB48-97875171067E.pdf
NEW QUESTION # 95
Security is enabled for the Account dimension, but you have not assigned member access rights to any users or groups.
What will be users' default access to members in the Account dimension?
- A. Read
- B. None
- C. Write
- D. Comment
Answer: A
Explanation:
The users' default access to members in the Account dimension when security is enabled but no member access rights are assigned is Read. This means that users can view data for any account member, but they cannot enter or modify data. Read is also the default access level for any dimension when security is enabled but no member access rights are assigned. The other options are not users' default access to members in the Account dimension when security is enabled but no member access rights are assigned. None means that users cannot view or modify data for any account member, which would prevent them from using the application. Comment means that users can view and comment on data for any account member, but they cannot enter or modify data. Write means that users can view and modify data for any account member, which would give them full access to the application.Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 17;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-9.
NEW QUESTION # 96
Which statement is FALSE about when Intercompany Data is enabled?
- A. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
- B. Tracking intercompany eliminations is optional.
- C. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
- D. Intercompany accounts are assigned plug accounts.
Answer: C
Explanation:
The statement that is false about when Intercompany Data is enabled is: In order for intercompany data to be eliminated, intercompany entities must be children of the same parent. This statement is not true because intercompany data can be eliminated even if intercompany entities are not children of the same parent, as long as they share a common ancestor entity in the Entity dimension hierarchy. For example, if Entity A and Entity B are siblings under Entity C, and Entity A has an intercompany transaction with Entity B, the intercompany data will be eliminated at Entity C level. The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, and the Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18-19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.
NEW QUESTION # 97
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. Parent account calculations depend on the sequencing.
- B. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
- C. There is no reason to consolidate years sequentially.
- D. Each period in the year must consolidate separately.
Answer: B
Explanation:
The reason why years should be consolidated sequentially; i.e., first 2018, then 2019, then 2020, is to ensure that rollforward calculations are correct. Rollforward calculations are calculations that track the changes in balance sheet accounts from one period to another. For example, if an account has an opening balance of 100 in 2018 and a closing balance of 120 in 2018, the rollforward calculation will show a movement of 20 for 2018. If the same account has a closing balance of 150 in 2019, the rollforward calculation will show a movement of 30 for 2019. However, if the years are not consolidated sequentially, the rollforward calculations will not be accurate. For example, if 2019 is consolidated before 2018, the rollforward calculation will show a movement of -50 for 2018, which is incorrect. The other options are not reasons why years should be consolidated sequentially. Parent account calculations do not depend on the sequencing, each period in the year does not need to consolidate separately, and there is a reason to consolidate years sequentially.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-7.
NEW QUESTION # 98
An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.
What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)
- A. Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.
- B. A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.
- C. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.
- D. A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.
Answer: B,C
NEW QUESTION # 99
When enabling Multi-GAAP during application creation, which additional option is available?
- A. Allow adjustments for IFRS
- B. Include Supplemental Data
- C. Automatically calculate adjustment
- D. Track Multi-Source Data Input
Answer: C
NEW QUESTION # 100
Which statement is FALSE regarding establishing security for Financial Consolidation and Close?
- A. All members are accessible for dimensions with no security applied.
- B. Security is mandatory for one dimension.
- C. Security can be assigned at a parent level.
- D. Security can be disabled for any dimension.
- E. The Identity Domain Administrator inherits full access privileges.
Answer: D
Explanation:
The statement that is false regarding establishing security for Financial Consolidation and Close is: Security can be disabled for any dimension. This is false because security is mandatory for one dimension: Entity. You cannot disable security for this dimension, as it controls access to data by entity. The other statements are true regarding establishing security for Financial Consolidation and Close. The Identity Domain Administrator inherits full access privileges by default. Security can be assigned at a parent level, which applies to all descendants of that parent. All members are accessible for dimensions with no security applied, unless they are restricted by another dimension.[Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 17; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-8.
NEW QUESTION # 101
Which statement correctly describes the Consolidation dimension?
- A. The dimension uses a separate member for data from an entity's level-zero descendants.
- B. The dimension contains members to store non-controlling interest and joint venture data.
- C. The dimension allows users to see input versus journal adjustment data.
- D. The dimension allows users to view data in the parent currency.
Answer: A
Explanation:
The Consolidation dimension is used to store data at different levels of consolidation, such as Entity Input, Entity Currency, Parent Currency, etc. The dimension uses a separate member for data from an entity's level-zero descendants, which is called the Contribution member. This member shows the data from the children entities before any adjustments or eliminations are applied. The other statements are not correct descriptions of the Consolidation dimension. The dimension does not allow users to view data in the parent currency (this is done by the Currency dimension), to see input versus journal adjustment data (this is done by the Data Source dimension), or to store non-controlling interest and joint venture data (this is done by the Ownership dimension).Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 15-16; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-8.
NEW QUESTION # 102
What is the correct Currency dimension member to select when running an Intercompany Matching Report?
- A. Reporting Currency
- B. Parent Currency
- C. Input Currency
- D. Entity Currency
Answer: A
Explanation:
Currency (Must be a Reporting Currency)
setting_up_intercompany_matching_reports.html
NEW QUESTION # 103
You need
a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?
- A. Financial Report
- B. Journal Report
- C. Intercompany Report
- D. Consolidation Report
Answer: D
NEW QUESTION # 104
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. Create an on-demand rule in Calculation Manager that you run after consolidation.
- B. Edit the numbers using a web form or Smart View after consolidating.
- C. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in
- D. Click Configurable Consolidation on the Consolidation Process page and create a Configurable
Answer: D
Explanation:
From the Consolidation Process page, select the Consolidated tab, and then selectConfigurable Consolidation.
Click the Create Rule Set.
consolidation_creating_rule_sets.html
NEW QUESTION # 105
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. Opening Balance Input
- D. Closing Balance
Answer: A,B
Explanation:
http://www.allreadable.com/3128VWfe
NEW QUESTION # 106
Which two statements about the Copy Data function are true? (Choose two.)
- A. When you select the Regular Data option, journals data is included.
- B. You can copy data for historical rate and amount overrides.
- C. You can select which Consolidation dimension member to copy.
- D. You cannot select which Account members to copy.
Answer: B,C
Explanation:
The two statements about the Copy Data function that are true are:
You can select which Consolidation dimension member to copy. You can choose to copy data from any member of the Consolidation dimension, such as FCCS_Entity Input, FCCS_Proportion, or FCCS_Eliminations.
You can copy data for historical rate and amount overrides. You can select to copy data from or to the FCCS Historical Rate Override or FCCS Historical Amount Override accounts.
The other statements are false. When you select the Regular Data option, journals data is not included; you need to select the Journals option to copy journals data. You can select which Account members to copy; you can choose to copy all accounts or specific accounts.[Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 27; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-16.
NEW QUESTION # 107
Which two
statements are true of the roll forward calculation in the Movement dimension?
- A. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
- B. Values for base-level Movement members are calculated as the difference between Closing Balance and
- C. Values for Opening Balance are retrieved from the prior period Closing Balance.
- D. Translated values for Closing Balance are adjusted to the ending rate for the period.
Answer: C,D
Explanation:
If Entity currency and Parent currency Closing Balance data does not exist in the prior period, then the Ending Rate for the prior period is used.
Opening balance is calculated from the prior period's Closing Balance.
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/built_in_calculations.html
NEW QUESTION # 108
If the Alias of an Entity that marked as "Is Intercompany" and is later changed, what happens to the corresponding Intercompany member Alias?
- A. The Intercompany Alias is set to the Entity Name.
- B. The Intercompany Alias is not automatically changed to the new Entity Alias.
- C. The Intercompany Alias is automatically changed to the new Entity Alias.
- D. The Intercompany Alias is automatically set to the Intercompany Name.
Answer: C
NEW QUESTION # 109
To show the Intercompany account and matching account balances on the Intercompany Matching Report, you make which selection?
- A. Intercompany Accounts
- B. Elimination Consolidation Dimension member
- C. Intercompany Plug Accounts
- D. Intercompany Partners
Answer: D
Explanation:
Intercompany Partner (ICP) Matching reports list the intercompany transactions that are eliminated duringconsolidation. Intercompany transactions are managed across the Intercompany Partner dimension.https://docs.oracle.com/cd/E57185_01/HFMAG/ch09s02.html
NEW QUESTION # 110
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