Oracle Financial Consolidation and Close 2021 Implementation Essentials

QUESTION NO: 1
Which three scenarios result in foreign currency translation during the default consolidation process?

A. A parent 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 base entity has a different default currency than its parent. E. A shared entity has a different default currency than its parent

Correct Answer: A,D,E

QUESTION NO: 2
Which statement correctly describes the Consolidation dimension?

A. The dimension allows users to view data in theparent currency. B. The dimension contains members to store non-controlling interest and joint venture data. C. The dimension allows users to see input versusjournal adjustment data. D. The dimension uses a separate member for data from an entity's level zero descendants.

Correct Answer: A

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

QUESTION NO: 3
When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)

A. ERP r12 B. Data Management C. ERP Cloud D. Supplemental Data

Correct Answer: B,D

QUESTION NO: 4
Which dimension includes the FCCS_Global Assumption member that is used to store currency information?

A. Currency B. Account C. Entity D. From Currency

Correct Answer: D

QUESTION NO: 5
Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)

A. The Cash Change hierarchy cannot be modified. B. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy. C. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in theFCCS_CashFlow hierarchy. D. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator. E. Siblings can be added to the FCCS_CashFlow_Investing member. F. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.

Correct Answer: B,D,E,F

QUESTION NO: 6
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. you can't load data to this account D. subtract amounts consolidated to the parent

Correct Answer: D

QUESTION NO: 7
Which two statements are true regarding the Copy Data function?

A. When you select the Regular Data option, journals data is included. B. You can select which Consolidation dimension member to copy. C. You can copy data for historical rate and amount overrides. D. You cannot select which Account members to copy.

Correct Answer: A,C

Explanation: Only visible for Pass4Test members. You can sign-up / login (it's free).

Oracle Financial Consolidation and Close 2021 Implementation Essentials - 1Z0-1081-21 Exam Questions