Oracle Oracle Certifications 1Z0-1081-22 Questions & Answers

• Question 51:

  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 52:

  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 53:

  Which statement about the Equity Pickup feature is FALSE?

  A. Seeded rule-sets are provided for Equity Pickup.

  B. Equity Pickup rules run as part of the consolidation process.

  C. Equity Pickup requires that the Ownership Management with Equity Pickup feature is enabled.

  D. Equity Pickup rules are run on-demand from the Rules card by users with launch permissions.

  Correct Answer: B

• Question 54:

  You have added a new task to a close schedule with a task due date past the defined end date of the schedule. What is the result of the change?

  A. The new task will run outside of the schedule end date.

  B. An error, you can't add a new task past the due date.

  C. The schedule end date changes to match the end date of the task.

  D. The task will not run.

  Correct Answer: C

  When you add a new task to a schedule, it automatically is scheduled to start on the project's start date. As tasks are added to the schedule and connected to other tasks, the start times of tasks will change, and the last task to finish determines the project's finish date.

  Reference: https://support.microsoft.com/en-us/office/how-project-schedules-tasks-behind-thescenesdf3431ab-8d8a-4047-afc6-a87b547dbac0

• Question 55:

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

  A. Inventory Ratios

  B. Gross Margin

  C. Contribution Margin

  D. Earnings per Share

  E. Debt Ratio

  F. Days Sales in Receivables

  Correct Answer: BCDF

• Question 56:

  Which three combinations of dimensions could be valid for a Financial Consolidation and Close (FCCS) application?

  A. Period, Year, Entity

  B. From Currency, Movement, Scenario

  C. Multi-GAAP, Data Type, Intra-company

  D. Value, Entity, Account

  E. Data source, Consolidation, View

  Correct Answer: A

• Question 57:

  What will Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?

  A. This setting does not affect aggregation to the parent.

  B. You cannot load data to this account.

  C. Add amounts aggregated to the parent.

  D. Subtract amounts aggregated to the parent.

  Correct Answer: C

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

• Question 58:

  Which two statements are true of the roll forward calculation in the Movement dimension?

  A. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.

  B. Translated values for Closing Balance are adjusted to the ending rate for the period.

  C. Values for Opening Balance are retrieved from the prior period Closing Balance.

  D. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.

  Correct Answer: BC

  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.

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

  built_in_calculations.html

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

• Question 59:

  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. 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.

  D. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

  Correct Answer: BD

• Question 60:

  Which statement is true regarding Data Management categories?

  A. Categories are defined on the Global Mapping tab and then the frequency is specified on the Application Mapping tab

  B. Categories must begin with FCCS_ to match their Financial Consolidation and Close counterparts.

  C. Application mapping is not required if the global mapping target category is exactly correct.

  D. The category's time frequency allows data to be loaded to daily, weekly, and monthly scenarios.

  Correct Answer: B