Oracle Financial Consolidation and Close 2019 Implementation Essentials (1z1-1081) Free Practice Test

Question 1

Which four sample ratios can be created during the application creation process? (Choose four.)

A. Contribution Margin

B. Earnings per Share

C. Gross Margin

D. Inventory Ratios

E. Debt Ratio

F. Days Sales in Receivables

Correct Answer: C,D,E,F

Question 2

UESTION NO: 64
An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month.
What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

A. Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.

B. A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.

C. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

D. A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.

Correct Answer: C,D

Question 3

Which two members of the Data Source dimension are optional when you create a Financial Consolidation and Close (FCCS) application? (Choose two.)

A. FCCS_Intercompany Eliminations

B. FCCS_PCON

C. FCCS_No Data Source

D. FCCS_Journal Input

Correct Answer: A,D

Question 4

If the Intercompany Property for an Entity is changed from marked to unmarked, which result occurs?

A. The associated Intercompany member is automatically removed.

B. The associated Intercompany member must be manually removed.

C. The alias of the associated Intercompany member must be manually changed.

D. The alias of the associated Intercompany member is automatically updated.

Correct Answer: D

Question 5

Which is NOT a member of the Data Source Dimension created by Financial Consolidation and Close (FCCS)?

A. FCCS_Proportion

B. FCCS_SystemTypes

C. FCCS_No Data Source

D. FCCS_Data Input

Correct Answer: A

Question 6

Which financial close related component is NOT a part of the Financial Consolidation and Close Cloud integrated product suite?

A. Supplemental Data Management

B. Process Management

C. Account Reconciliation Management

D. Data Management

E. Financial Close Management

Correct Answer: C

Question 7

When a Financial Consolidation and Close (FCCS) application was created, no intercompany options were enabled.
Which statement is true?

A. An extra custom dimension will be available.

B. The ICP dimension will be omitted.

C. The FCCS_No Intercompany member of the ICP dimension will be used for all data.

D. Data can be stored by intercompany partner but no eliminations will occur.

Correct Answer: B

Question 8

Which dimension includes the FCCS_Global Assumption member that is used to store currency information?

A. Entity

B. From Currency

C. Currency

D. Account

Correct Answer: B

Question 9

A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary's functional currency is USD.
Which two items facilitate the reporting of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

A. USD must be created as a reporting currency.

B. Common Stock must have an Exchange Rate Type set to Historical Rate Override.

C. The subsidiary must have a balance not equal to zero in Common Stock.

D. Common Stock must have a Data Storage property set to Never Share.

E. The subsidiary must have a parent entity with a GBP currency.

Correct Answer: C,E

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Oracle Financial Consolidation and Close 2019 Implementation Essentials (1z1-1081) Free Practice Test