100% Passing Guarantee - Brilliant 1Z0-1081-21 Exam Questions PDF [Aug-2022]
1Z0-1081-21 Dumps 2022 - NewOracle 1Z0-1081-21 Exam Questions
NEW QUESTION 66
Which statement is FALSE when Intercompany Data is enabled?
- A. Tracking intercompany eliminations is optional.
- B. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
- C. The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.
- D. Intercompany accounts are assigned plug accounts.
Answer: B
Explanation:
Explanation/Reference:Explanation:Elimination data applies to all children, including children with a different Domicile than the Parent, a blendedrate is entered at the Parent Entity's domicile. If you want to disable the elimination global rules, do not enterrates at the Parent entity.
Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/ admin_tax_automation_intercompany_eliminations_100x084ae29f.html
NEW QUESTION 67
What will Financial Consolidation and Close (FCCS) do when adding a new member that is an expense type account under a parent that is set as an income type account?
- A. add amounts consolidated to the parent
- B. this setting will not affect additions or subtractions to the next parent
- C. subtract amounts consolidated to the parent
- D. you can't load data to this account
Answer: C
NEW QUESTION 68
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 consolidation of Company 123
- B. A translation to theUSD_Reporting currency member for Company IOU
- C. A translation of Company IOU
- D. A consolidation of Company XYZ
- E. A translation of Company XYZ to Parent Currency
Answer: E
NEW QUESTION 69
The close cycle covers seven days and consists of three days of pre-close preparation tasks, one day to close the books, and then three days of reviewing, analyzing, and reporting.
To define a Close Manager task template to monitor all seven days, which day range should you define?
Response:
- A. Day -3 to Day 4
- B. Day 1 to Day 7
- C. Day -3 to Day 3
- D. Day -2 to Day 4
Answer: B
NEW QUESTION 70
For which three levels can Profiles be set in Data Management?
Response:
- A. Source System
- B. Category
- C. System
- D. Application
- E. User
Answer: B,C,D
NEW QUESTION 71
Which three scenarios result in foreign currency translation during the default consolidation process?
(Choose three.)
Response:
- A. A shared entity has a parent with a different currency.
- B. A parent entity has the same default currency as its parent.
- C. A base entity currency has a parent entity with a different default currency
- D. A base entity currency has a parent entity with a matching default currency.
- E. A parent entity has a different currency from its parent.
Answer: A,C,E
NEW QUESTION 72
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.)
Response:
- A. FCCS_CashFlow_Operating movement member
- B. FCCS_Total Balance Sheet - Cash and NonCash account member
- C. FCCS_CashChange movement member
- D. FCCS_CashFlow_Accounts Payable account member
- E. FCCS_Accounts Payable account member
Answer: B,E
NEW QUESTION 73
What can the Intercompany Dimension be enabled and made visible within your application?
- A. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Entity attribute
- B. during application creation and selecting the Intercompany Data feature option
- C. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute
- D. during application creation and selecting the Multi-source Data Input of Other Data
Answer: B
NEW QUESTION 74
Which statement is false regarding establishing security for Financial Consolidation and Close (FCCS)?
Response:
- A. Security is mandatory for one dimension.
- B. The Identity Domain Administrator inherits full access privileges.
- C. Security can be assigned at a parent level.
- D. Security can be disabled for any dimension.
- E. All members are accessible for dimensions with no security applied.
Answer: B
NEW QUESTION 75
What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?
Response:
- A. Entity Currency
- B. Local Currency
- C. Base Currency
- D. Parent Currency
Answer: A
NEW QUESTION 76
Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)
- A. Siblings can be added to the FCCS_CashFlow_Investing member.
- B. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in theFCCS_CashFlow hierarchy.
- C. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.
- D. The Cash Change hierarchy cannot be modified.
- E. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator.
- F. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.
Answer: A,C,E,F
NEW QUESTION 77
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 toaccomplish this?
- A. Intercompany Report
- B. Journal Report
- C. Financial Report
- D. Consolidation Report
Answer: D
Explanation:
Explanation
Explanation/Reference:https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/consolidation_report.html
NEW QUESTION 78
You are required to define a form that displays all form data for only specific View dimension member and not allow users to change this. Where on the form do you define the View dimension and select the correct member?
Response:
- A. the Point of View
- B. a column
- C. the Page Axis
- D. Other Options section
Answer: A
NEW QUESTION 79 
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?
Response:
- A. Entity Paducah, Consolidation FCCS_Elimination, Intercompany ICP_H_1
- B. Entity Paducah, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany
- C. Entity P_2, Consolidation FCCS_Contribution, Intercompany H_1
- D. Entity PQR, Consolidation FCCS_Elimination, Intercompany FCCS_No Intercompany
- E. Entity P_2, Consolidation FCCS_Contribution, Intercompany ICP_H_1
Answer: E
NEW QUESTION 80
Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)?
- A. FCCS_No Data Source
- B. FCCS_Data Input
- C. FCCS_Proportion
- D. FCCS_SystemTypes
Answer: C
NEW QUESTION 81
Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?
- A. Consolidation, Currency, Account
- B. Currency, Account, Movement
- C. Entity, Consolidation, Currency
- D. Entity, Currency, Account
Answer: B
NEW QUESTION 82
Which three scenarios result in foreign currency translation during the default consolidation process?
- A. A shared entity has a different default currency than its parent
- B. A parententity has the same default currency as its parent.
- C. A base entity has the same default currency as its parent.
- D. A parent entity has a different default currency than its parent.
- E. A base entity has a different default currency than its parent.
Answer: A,D,E
NEW QUESTION 83
A client company has expanded quickly in the past year and has recognized the need to move their financial team off spreadsheets and to a more verifiable and automated solution.
Which two requirements from this team would Oracle's Financial Consolidation and Close Cloud Service satisfy?
(Choose two.)
Response:
- A. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint
- B. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness
- C. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls
- D. provide the ability to collaborate during close and analyse transaction detail in real time
- E. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a process to adjust data, monitor the close status and view data and compliance results in dashboards
Answer: A,E
NEW QUESTION 84
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