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Oracle 1Z0-1081-24 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Consolidation Rules and Eliminations | 26% | - Advanced consolidation features
|
| Financial Close Management | 24% | - Close process setup
|
| Application Setup and Configuration | 28% | - Application creation and configuration
|
| Data Integration and Reporting | 22% | - Reporting and analysis
|
Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:
Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?
- A. Year, Scenario, Base Entity and Account
- B. Period, Scenario, Base Entity and Parent Entity
- C. Scenario, Account, Base Entity and Parent Entity
- D. Scenario, View, Parent Entity and Account
Correct Answer: B 🗳️
Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)
- A. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.
- B. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.
- C. Siblings can be added to the FCCS_CashFlow_Investing member.
- 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. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in the FCCS_CashFlow hierarchy.
Correct Answer: A,B,C,E 🗳️
Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)
- A. The default currency of the child is different from the default currency of the parent.
- B. The child entity is NOT a shared entity.
- C. To specify exchange rates you must set up multiple currencies when creating an application.
- D. Reporting currencies have been defined in the Currency dimension.
Correct Answer: A,D 🗳️
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Which statement accurately describes alternate hierarchies?
- A. Parent members having the same currency
- B. Contribution to parent members are similar
- C. Single entities having multiple parents
- D. Data must be entered multiple times for shared members
Correct Answer: C 🗳️
P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?
- A. January should be consolidated for the change and nothing needs to happen for February.
- B. There is no way to do a prior period entry like this.
- C. February should be consolidated, after which the cash at AceCo is now 65.
- D. January and February should be consolidated.
Correct Answer: D 🗳️
