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

• Question 71:

  A company has two subsidiaries with 1000 EURO each in the Cash account. Which four Consolidation Members will reflect 2000 EURO at the company's balance? (Choose four.)

  A. FCCS_Elimination

  B. FCCS_Proportion

  C. FCCS_Entity Input

  D. FCCS_Entity Consolidation

  E. FCCS_Entity Total

  F. FCCS_Contribution

  Correct Answer: CDEF

• Question 72:

  Which statement is FALSE 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.

  Correct Answer: C

  Elimination data applies to all children, including children with a different Domicile than the Parent, a

  blended rate is entered at the Parent Entity's domicile. If you want to disable the elimination global rules,

  do not enter rates at the Parent entity.

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

  admin_tax_automation_intercompany_eliminations_100x084ae29f.html

• Question 73:

  On what days during the month does Oracle apply patch updates to fix bugs, apply code optimizations, and add new features?

  A. the third Friday of each month to apply to both TEST and PROD simultaneously

  B. the first and third Monday of each month; first Monday for TEST and third Monday for PROD

  C. the second and fourth Friday of each month; second Friday for TEST and fourth Friday for PROD

  D. the first and third Friday of each month; first Friday for TEST and third Friday for PROD

  Correct Answer: D

• Question 74:

  Which two members of the Consolidation dimension cause the standard foreign currency translation rules to be ignored? (Choose two.)

  A. FCCS_Amount_Override

  B. FCCS_Rate Override

  C. FCCS_Contribution

  D. FCCS_Proportion

  E. FCCS_Elimination

  F. FCCS_Translation

  Correct Answer: BE

• Question 75:

  When setting an account property to a data storage type of "Dynamic Calc" which two are allowed?

  A. Member Formulas cannot be created

  B. load data to this account and make member formulas

  C. load data to this account D. create Member Formulas

  Correct Answer: BD

• Question 76:

  Changes in the balance of Accounts Payable are captured on a company's Cash Flow Report. Which two dimension members must be built into the row of the company's Cash Flow to report the impact of Accounts Payable? (Choose two.)

  A. FCCS_Accounts Payable account member

  B. FCCS_CashFlow_Operating movement member

  C. FCCS_CashFlow_Accounts Payable account member

  D. FCCS_Total Balance Sheet ?Cash and NonCash account member

  E. FCCS_CashChange movement member

  Correct Answer: CD

• Question 77:

  

  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?

  A. Entity PQR, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany

  B. Entity Paducah, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany. Entity P_2, Consolidation FCCS_Contribution, Intercompany ICP_H_1

  C. Entity Paducah, Consolidation FCCS_Elimination, Intercompany ICP_H_1

  D. Entity P_2, Consolidation FCCS_Contribution, Intercompany H_1

  Correct Answer: C

• Question 78:

  If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

  A. The alias of the associated Intercompany member is automatically updated.

  B. The associated Intercompany member must be manually removed.

  C. The associated Intercompany member is automatically removed.

  D. The alias of the associated Intercompany member must be manually changed.

  Correct Answer: A

• Question 79:

  Which two data extract export file types are available within Financial Consolidation and Close (FCCS)? (Choose two.)

  A. DAT file type

  B. Excel XLS file type

  C. Comma delimited

  D. Tab delimited

  Correct Answer: CD

• Question 80:

  When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?

  A. Any number of months can be selected

  B. 12-month only

  C. 12-month and 13-month

  D. 12-month, 13-month and a 14-month

  Correct Answer: C