Free Oracle Financial Consolidation and Close 2021 Implementation Essentials Exam 1Z0-1081-21 Exam Practice Test

You are required to create a form to allow users to input data. Which three actions or form components selected should accomplish this?

• Set the currency on the form to the reporting currency member USD_Reporting
  
• Level 0 dimension members on POV, rows and columns
  
• Give data input users WRITE access to form dimension members
  
• Set access rights for data input users to the form
  

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

• Set up Users.
  
• Define system settings such as Organization units, Holiday rules and Task attachment size.
  
• Assign tasks to users.
  
• Create a schedule and set it to Open status.
  

A company would like to capture Fixed Asset additions and disposals within the Movement dimension.Which three tasks are necessary to achieve this goal? (Choose three.)

• Build a custom Movement member for Fixed Assets with dependent custom members for Additions and Disposals
  
• Add custom members for Additions and Disposals as dependents of FCCS_Mvmts_CapitalExpenditures.
  
• Load detailed Fixed Asset data to Movement members.
  
• Add custom Movement members to the FCCS_CashFlow hierarchy.
  
• Create a Roll Forward in the account dimension.
  

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

• Shared members are supported in valid intersection rules
  
• If a shared member is selected for a valid intersection rule, then the base member is not included in the rule
  
• If a base member is included in a valid intersection rule, then any shared member is not included in the rule
  
• Shared members are not supported in valid intersection rules
  

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 translation to the USD_Reporting currency member for Company IOU
  
• A translation of Company IOU
  
• A consolidation of Company 123
  
• A consolidation of Company XYZ
  
• A translation of Company XYZ to Parent Currency
  

Which statement correctly describes when a consolidation can occur within a given year/scenario?

• An administrator runs Force Consolidate to force the consolidation of all entities regardless of status or content.
  
• The current period consolidation status is Impacted and the remaining periods are OK.
  
• A user has a power user access but only write access to the entity.
  
• A user with power user access first locks the entity so that other users cannot consolidate the same entity.
  
• The user specifies the desired parent entity, Feb as the period, Actual as the scenario, and 2018 as the year.
  

Which option can be used for quarter distributions on a 13-month time period calendar when creating a Financial Consolidation and Close Cloud (FCCS) application?

• 3-3-3-3
  
• 3-3-3-4
  
• 4-4-4-4
  
• 4-4-4-5
  

What willFinancial 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?

• This setting does not affect aggregation to the parent.
  
• You cannot load data to this account.
  
• Add amounts aggregated to the parent.
  
• Subtract amounts aggregated to the parent.
  

How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?

• Enable a dimension for Currency after application creation via a Metadata load.
  
• During application creation, select the Multicurrency option of ''No'' and insert additional currencies within the Currency dimension.
  
• During application creation, select the Multicurrency option of ''Yes''.
  
• Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.
  

Once metadatais updated and the database refresh has completed successfully, how will the status for all entities be listed via the default Data Status grid?

• Impacted
  
• Need Translate
  
• OK
  
• System Changed (SC)