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NEW QUESTION # 30
Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)
- A. Scenario
- B. Period
- C. Account
- D. Entity
- E. Year
Answer: B,E
Explanation:
Explanation
Year and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 12-2.
NEW QUESTION # 31
Which statement is true of reporting currencies?
- A. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
- B. All input currencies that you add are automatically added as reporting currencies as well.
- C. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
- D. All reporting currency members have the suffix Reporting.
Answer: A
Explanation:
Explanation
The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 21; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-17.
NEW QUESTION # 32
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)
- A. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
- B. If a shared member is selected for a rule, the primary instance of the member is selected as well.
- C. Selecting the primary instance of a member does not include shared members.
- D. Selecting a shared member for a rule does not include its primary instance.
Answer: A,D
Explanation:
Explanation
The following statements are true about shared members in Valid Intersection rules:
If the primary instance of the member is selected for a rule, all shared members for the instances are included. This means that data can be entered or calculated for any shared member of the primary member.
Selecting a shared member for a rule does not include its primary instance. This means that data can be entered or calculated only for the specific shared member, not for the primary member or other shared members. The other statements are not true about shared members in Valid Intersection rules. If a shared member is selected for a rule, the primary instance of the member is not selected as well. Selecting the primary instance of a member does include shared members. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 69; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-6.
NEW QUESTION # 33
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Movement
- B. Account
- C. Consolidation
- D. View
Answer: C,D
Explanation:
Explanation
When using the Copy Data feature to copy data from one scenario, year, or period to another, member selection is not available for the Consolidation and View dimensions. These dimensions are automatically set to Entity Input and Periodic, respectively. Member selection is available for other dimensions, such as Movement, Account, etc., depending on the application settings and security access. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 55; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 7-13.
NEW QUESTION # 34
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)
- A. Ending Rate
- B. Average Rate
- C. Local Rate
- D. Opening Rate
Answer: A,B
Explanation:
Explanation
The seeded exchange rate forms display two rate accounts: Average Rate and Ending Rate. These rate accounts show the exchange rates used for translating data from local currency to reporting currency. The Average Rate account shows the average exchange rate for the period, which is used for translating flow accounts. The Ending Rate account shows the ending exchange rate for the period, which is used for translating balance accounts. The other rate accounts, such as Local Rate, Opening Rate, and Historical Rate, are not available in the seeded exchange rate forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 49-50; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-4.
NEW QUESTION # 35
For which task categories is Audit enabled by default?
- A. All task categories
- B. Data only
- C. Journals
- D. No task categories
Answer: A
Explanation:
Explanation
Audit is enabled by default for all task categories in Financial Consolidation and Close. Audit is a feature that allows you to track the changes made to data, metadata, security, application settings, etc. in Financial Consolidation and Close. You can view the audit records in the Audit page or export them to a file. Audit is enabled by default for all task categories, such as Data, Journals, Metadata, Security, etc., but you can disable it for specific task categories if needed. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 85; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-5.
NEW QUESTION # 36
Which statement is FALSE about Task Manager schedules?
- A. You can still add tasks to a schedule that has been closed.
- B. You can re-open a schedule that has been locked.
- C. Users can still complete tasks in a schedule that has been closed.
- D. To start all the tasks in a schedule, you must change the status from Pending to Open.
Answer: A
Explanation:
Explanation
The statement that is false about Task Manager schedules is: You can still add tasks to a schedule that has been closed. This is false because you cannot add tasks to a schedule that has been closed; you can only add tasks to a schedule that is open or pending. Closing a schedule means that the schedule is completed and no further changes are allowed. The other statements are true about Task Manager schedules. Users can still complete tasks in a schedule that has been closed, as long as the tasks are not past due. You can re-open a schedule that has been locked, as long as you have the Unlock Schedule role assignment. To start all the tasks in a schedule, you must change the status from Pending to Open, which triggers the task start dates and due dates. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 43; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 8-4.
NEW QUESTION # 37
Which statement is FALSE regarding establishing security for Financial Consolidation and Close?
- A. Security can be assigned at a parent level.
- B. Security is mandatory for one dimension.
- C. The Identity Domain Administrator inherits full access privileges.
- D. Security can be disabled for any dimension.
- E. All members are accessible for dimensions with no security applied.
Answer: D
Explanation:
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. References: [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 # 38
Which statement correctly describes the Consolidation dimension?
- A. The dimension allows users to view data in the parent currency.
- B. The dimension uses a separate member for data from an entity's level-zero descendants.
- C. The dimension contains members to store non-controlling interest and joint venture data.
- D. The dimension allows users to see input versus journal adjustment data.
Answer: B
Explanation:
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). References: 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 # 39
For which scenario would an On-Demand rule be an appropriate solution?
- A. To import data into a form or Smart View worksheet
- B. To allocate data to base entities prior to consolidation
- C. To perform a custom currency translation for a subset of accounts
- D. To add a column with a calculation to a report
Answer: C
Explanation:
Explanation
Performing a custom currency translation for a subset of accounts is a scenario where an On-Demand rule would be an appropriate solution. An On-Demand rule is a type of business rule that can be executed manually by users on forms or Smart View worksheets. An On-Demand rule can perform calculations or transformations on selected data cells without affecting other data cells. For example, an On-Demand rule can be used to translate data from local currency to reporting currency using a different exchange rate than the default one for a subset of accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 61-62; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.
NEW QUESTION # 40
How do you navigate if you want to export a form to a Snapshot file?
- A. From the Home page, select Tools, and then Migration.
- B. Open the form, select Actions, and then Export.
- C. From the Home page, select Tools, and then Clone Snapshot.
- D. From the Navigator menu, select Forms.
Answer: B
Explanation:
Explanation
To export a form to a Snapshot file, you need to open the form, select Actions, and then Export. This will create a Snapshot file that contains the form definition and data. You can use this file to import the form to another application or environment. The other options are not related to exporting forms. Clone Snapshot is used to copy an existing Snapshot file, Migration is used to migrate artifacts between applications or environments, and Forms is used to create or edit forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-10.
NEW QUESTION # 41
Which two statements are true about the roll forward calculation in the Movement dimension? (Choose two.)
- A. Translated values for Closing Balance are adjusted to the ending rate for the period.
- B. Values for Opening Balance are retrieved from the prior period's Closing Balance.
- C. Data for opening balances must be loaded to the Opening Balance member prior to consolidation.
- D. Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
Answer: A,B
Explanation:
Explanation
The two statements that are true about the roll forward calculation in the Movement dimension are:
Translated values for Closing Balance are adjusted to the ending rate for the period. This means that the closing balance values are translated to the parent entity's currency using the exchange rate at the end of the period.
Values for Opening Balance are retrieved from the prior period's Closing Balance. This means that the opening balance values are derived from the closing balance values of the previous period.
The other statements are false about the roll forward calculation in the Movement dimension. Data for opening balances does not need to be loaded to the Opening Balance member prior to consolidation; it is automatically calculated from the prior period's closing balance. Values for base-level Movement members are not calculated as the difference between Closing Balance and Opening Balance; they are calculated as the difference between Closing Balance and Total Input And Adjusted. : Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 39; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-12.
NEW QUESTION # 42
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)
- A. FX Rates - Historical
- B. FX Rates - Opening
- C. FX Rates - None
- D. FX Rates - Average
- E. FX Rates - Ending
Answer: D,E
Explanation:
Explanation
When configuring default translation methods for Flow and Balance accounts, two rate account options are available: FX Rates - Average and FX Rates - Ending. These rate account options determine which exchange rate is used to translate data from local currency to reporting currency. FX Rates - Average uses the average exchange rate for the period, which is suitable for flow accounts that capture movements within the period. FX Rates - Ending uses the ending exchange rate for the period, which is suitable for balance accounts that represent a point in time. The other rate account options, such as FX Rates - Historical, FX Rates - Opening, and FX Rates - None, are not available when configuring default translation methods for Flow and Balance accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 48; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-2.
NEW QUESTION # 43
You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.
What is the most efficient means to accomplish this?
- A. Create a Configurable Consolidation rule.
- B. Create a valid intersection rule.
- C. Create a Groovy rule.
- D. Create a Task Manager rule.
Answer: C
Explanation:
Explanation
To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.
NEW QUESTION # 44
Which two statements are true about Enterprise Journals? (Choose two.)
- A. You can assign a team as preparer or reviewer.
- B. You cannot deploy Enterprise Journals to a period with Pending status.
- C. Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
- D. Line items can only include entities that have been enabled for Enterprise Journals.
Answer: A,D
Explanation:
Explanation
The two statements that are true about Enterprise Journals are:
Line items can only include entities that have been enabled for Enterprise Journals. You can enable or disable entities for Enterprise Journals in the Entity dimension properties.
You can assign a team as preparer or reviewer. You can create teams of users and assign them roles in the Enterprise Journal workflow.
The other statements are false. You can deploy Enterprise Journals to a period with any status, as long as it is not locked. Users with either the Service Administrator or Power User role can create Enterprise Journal templates, but they also need the Create Journal Template role assignment. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 25; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 6-2.
NEW QUESTION # 45
Which statement is FALSE about when Intercompany Data is enabled?
- A. Tracking intercompany eliminations is optional.
- B. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.
- 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:
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. References: 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 # 46
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:
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 # 47
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. Intercompany
- B. Financial
- C. Journal
- D. Consolidation
Answer: D
Explanation:
Explanation
The type of report that you can run to display all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules, is a Consolidation report. This report shows the details of how consolidated data is calculated for each account in each entity. You can view the source data, adjustments, eliminations, ownership percentage, currency translation, rounding differences, and consolidated data for each account. The other types of reports do not show all adjustments. A Journal report shows only journal adjustments, a Financial report shows only consolidated data without details, and an Intercompany report shows only intercompany eliminations. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 7-8.
NEW QUESTION # 48
Which two statements are true about the Multi-GAAP feature? (Choose two.)
- A. When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
- B. Select this option if you need to report your financial statements only in IFRS.
- C. You must specify a prefix for entities that use the alternate gap standard.
- D. Enabling Multi-GAAP reduces the number of custom dimensions you can have.
Answer: A,D
Explanation:
Explanation
The two statements that are true about the Multi-GAAP feature are:
When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments. Manual adjustments allow you to enter or load data for different GAAPs separately, while calculated adjustments allow you to define formulas or rules to derive data for different GAAPs from a primary GAAP.
Enabling Multi-GAAP reduces the number of custom dimensions you can have. Multi-GAAP uses one custom dimension slot, so you will have one less custom dimension available for other purposes.
The other statements are false about the Multi-GAAP feature. You do not need to select this option if you need to report your financial statements only in IFRS; you can use IFRS as your primary GAAP without enabling Multi-GAAP. You do not need to specify a prefix for entities that use the alternate GAAP standard; you can use any member name for your alternate GAAP entity. : Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide, page 37; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-10.
NEW QUESTION # 49
When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?
- A. Plug Account
- B. Intercompany Entity
- C. Intercompany Account
- D. Is Plug Account
Answer: A
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPME
NEW QUESTION # 50
Which four sample ratios can be selected during business process creation? (Choose four.)
- A. Earnings per Share
- B. Debt Ratio
- C. Inventory Ratios
- D. Days Sales in Receivables
- E. Gross Margin
- F. Contribution Margin
Answer: B,C,D,E
Explanation:
Explanation
The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.
NEW QUESTION # 51
Which statement about Opening Balance Override rules is true?
- A. They are available only if Intercompany Data with Tracking is enabled for the business process.
- B. You can select which entities to include in the rule scope.
- C. You can select which accounts to include in the rule scope.
- D. Opening Balance Override rules execute for the first period in the year only.
Answer: C
Explanation:
Explanation
The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.
NEW QUESTION # 52
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)
- A. Footer
- B. Header
- C. Grid
- D. Chart
Answer: C,D
Explanation:
Explanation
Grid and Chart are two types of insertable report objects when designing a report in Financial Reporting Studio. Financial Reporting Studio is a tool that allows you to create reports based on the data in Financial Consolidation and Close using various report objects, such as grids, charts, text boxes, images, etc. A Grid report object displays data in rows and columns with optional calculations and formatting. A Chart report object displays data in graphical form with different chart types, such as bar, pie, line, etc. The other options, such as Header and Footer, are not insertable report objects but report sections that can contain report objects. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 51-52; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-2.
NEW QUESTION # 53
Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?
- A. The ICP dimension is omitted.
- B. An extra custom dimension is available.
- C. The FCCS No Intercompany member of the ICP dimension is used for all data.
- D. Data can be stored by the intercompany partner but no eliminations occur.
Answer: A
Explanation:
Explanation
The Intercompany Data feature is an optional feature that enables intercompany eliminations and reporting in Financial Consolidation and Close (FCC). If this feature is not enabled when the FCC business process is created, the ICP dimension is omitted from the application. This means that data cannot be stored by the intercompany partner and no eliminations occur. The FCCS No Intercompany member of the ICP dimension is used for all data only if the feature is enabled but no intercompany transactions are entered. An extra custom dimension is not available regardless of whether the feature is enabled or not. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.
NEW QUESTION # 54
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