Oracle Oracle Certifications 1Z0-1081-20 Questions & Answers

• Question 21:

  Which statement correctly describes the Consolidation dimension?

  A. The dimension allows users to see input versus journal adjustment data.

  B. The dimension contains members to store non-controlling interest and joint venture data.

  C. The dimension uses a separate member for data from an entity's level zero descendants.

  D. The dimension allows users to view data in the parent currency.

  Correct Answer: D

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation- cloud/agfcc/consol_dim.html

• Question 22:

  What is the correct Currency dimension member to select when running an Intercompany Matching Report?

  A. Input Currency

  B. Reporting Currency

  C. Entity Currency

  D. Parent Currency

  Correct Answer: B

  Currency (Must be a Reporting Currency)

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/usfcc/

  setting_up_intercompany_matching_reports.html

• Question 23:

  What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?

  A. Base Currency

  B. Parent Currency

  C. Local Currency

  D. Entity Currency

  Correct Answer: D

  FCCS currently allows Journal Input (Data Source dimension member) to Entity Input (Consolidation dimension member) in Entity Currency for parent entities. HFM allows Entity Currency Adjustments and Parent Currency Adjustments (Value dimension members) at parent entities.

• Question 24:

  You need to define a form that requires users to select the entity for which to view data from a list that includes USA, Canada, and South America, but no other entities. Where on the form do you place the Entity dimension?

  A. the Point of View

  B. rows

  C. columns

  D. the Page Axis

  Correct Answer: A

  The point of view is displayed on the top of the form. Elements that can be changed are displayed as links in the point of view. For example, if the Entity dimension is displayed as a link, you can change the entity but not the other dimensions in the point of view. Reference: https://docs.oracle.com/cd/E57185_01/OHFMU/form_pov.htm#OHFMU- Webdataforms472213

• Question 25:

  Which three are seeded data forms created during business process creation?

  A. Exchange Rate Multi-period

  B. Override Rates

  C. Shares Outstanding

  D. Data Status

  E. Headcount

  Correct Answer: ABD

• Question 26:

  What are two important first steps in initially setting up Task Manager?

  A. Set up Users.

  B. Define system settings such as Organization units, Holiday rules and Task attachment size.

  C. Assign tasks to users.

  D. Create a schedule and set it to Open status.

  Correct Answer: AB

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/ cm_close_process_overview.html

• Question 27:

  Which statement is false regarding establishing security for Financial Consolidation and Close?

  A. Security can be assigned at a prevent level.

  B. Security is mandatory for one dimension.

  C. The Identity Domain Administrator inherits full access privileges.

  D. All members are accessible for dimensions with no security applied.

  E. Security can be disabled for any dimension.

  Correct Answer: D

  The Identity Domain Administrator is not a functional role; it does not inherit access privileges granted through functional roles. To access service features, the Identity Domain Administrator must be granted one of the four functional roles in Tax Reporting. Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/ admin_security_predefined_roles_112x5e7954a4.html

• Question 28:

  Which statement is true regarding shared members and valid intersection rules?

  A. Shared members are supported in valid intersection rules

  B. If a shared member is selected for a valid intersection rule, then the base member is not included in the rule

  C. If a base member is included in a valid intersection rule, then any shared member is not included in the rule

  D. Shared members are not supported in valid intersection rules

  Correct Answer: CD

  Shared members are supported in valid intersection rules. If a base member is selected for a valid

  intersection rule, any shared members are also included in the rule.

  Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/

  admin_valid_intersections_shared_members_and_rules_102x58c8d618.html

• Question 29:

  Which four items are active components of the Currency dimension? (Choose four.)

  A. Entity Currency Adjustments

  B. Reporting Currencies

  C. Input Currencies

  D. Translated Currencies

  E. Entity Currency

  F. Parent Currency

  Correct Answer: ABCF

  You can create journals using the Entity Currency of the Currency dimension as well as Input Currencies

  for both Entity Input and Translated Currency Input.

  Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation- cloud/usfcc/

  creating_journals.html

• Question 30:

  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?

  A. A translation to the USD_Reporting currency member for Company IOU

  B. A translation of Company IOU

  C. A consolidation of Company 123

  D. A consolidation of Company XYZ

  E. A translation of Company XYZ to Parent Currency

  Correct Answer: E