[Jun-2024] Verified Oracle Exam Dumps with 1z0-1081-23 Exam Study Guide
Best Quality Oracle 1z0-1081-23 Exam Questions TestPassed Realistic Practice Exams [2024]
NEW QUESTION # 33
Which of the following is allowed for accounts with the data storage type of Dynamic Calc?
- A. Create member formulas.
- B. Load data to this account and create member formulas.
- C. Load data to this account.
- D. Enter data through a data form.
Answer: A
NEW QUESTION # 34
Which statement correctly describes the Consolidation dimension?
- A. The dimension uses a separate member for data from an entity's level-zero descendants.
- B. The dimension allows users to see input versus journal adjustment data.
- C. The dimension allows users to view data in the parent currency.
- D. The dimension contains members to store non-controlling interest and joint venture data.
Answer: A
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 # 35
For which task categories is Audit enabled by default?
- A. No task categories
- B. All task categories
- C. Journals
- D. Data only
Answer: B
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
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)
- A. Movement
- B. View
- C. Consolidation
- D. Account
Answer: B,C
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 # 37
Where do you set the Intercompany Entities Aggregation option?
- A. On the Properties page of the Intercompany dimension
- B. In the member properties of the Intercompany Top member
- C. In the member properties of the Intercompany Entities member
- D. In the Setup Wizard during business process creation
Answer: C
Explanation:
Explanation
The place where you set the Intercompany Entities Aggregation option is in the member properties of the Intercompany Entities member. This is a system member in the Entity dimension that represents all entities that have intercompany data. You can set its aggregation option to either Dynamic Calc or Store, depending on whether you want to calculate or store its values. The other options are not places where you set the Intercompany Entities Aggregation option. In the member properties of the Intercompany Top member, you can set other options related to intercompany data, such as Intercompany Partner, Intercompany Elimination Entity, and Intercompany Elimination Method, but not Intercompany Entities Aggregation. On the Properties page of the Intercompany dimension, you can set options related to intercompany matching reports, such as Report Currency and Report Precision, but not Intercompany Entities Aggregation. In the Setup Wizard during business process creation, you can enable or disable intercompany data for your business process, but not set Intercompany Entities Aggregation. 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 5-11.
NEW QUESTION # 38
In Data Integration, for what purpose do you use Workbench?
- A. To configure data load options
- B. To edit the data load file format
- C. To define dimension mapping
- D. To review mapping of source to target members
Answer: D
Explanation:
Explanation
The purpose of using Workbench in Data Integration is to review mapping of source to target members.
Workbench allows you to view and edit how source data members are mapped to target application members.
You can also validate, test, and run integrations from Workbench. The other options are not purposes of using Workbench in Data Integration. To edit the data load file format, you use File Format Editor. To define dimension mapping, you use Dimension Mapping Editor. To configure data load options, you use Application Details dialog box. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 41; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 9-4.
NEW QUESTION # 39
What member of the Consolidation dimension represents the aggregated value before proportionalization and elimination?
- A. FCCS Contribution
- B. FCCS Entity Consolidation
- C. FCCS Totallnput And Adisuted
- D. FCCS Entity Total
Answer: B
Explanation:
Explanation
The member of the Consolidation dimension that represents the aggregated value before proportionalization and elimination is FCCS Entity Consolidation. This is the member that shows the data for each entity after currency translation but before applying ownership percentage, intercompany eliminations, or adjustments. It is also the member where input data for parent entities is stored. The other options are not members of the Consolidation dimension that represent the aggregated value before proportionalization and elimination. FCCS Entity Total is a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from all accounts in the application. FCCS Total Input And Adjusted is also a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from input accounts and adjustment accounts. FCCS Contribution is a member of the Consolidation dimension, but it represents the data for each entity after applying ownership percentage, not before. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide, page 31; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-8.
NEW QUESTION # 40
Which two are members in the Consolidation dimension? (Choose two.)
- A. FCCS Data Input
- B. FCCS Entity Input
- C. FCCS Proportion
- D. FCCS Total input And Adjusted
Answer: B,C
Explanation:
Explanation
The two members that are in the Consolidation dimension are:
FCCS_Entity Input: This is the member that represents the input data for each entity before consolidation. It shows the data in the entity's default currency without any adjustments or eliminations.
FCCS_Proportion: This is the member that represents the data for each entity after applying the ownership percentage. It shows the data in the parent entity's currency after currency translation and ownership adjustment.
The other options are not members of the Consolidation dimension. FCCS Data Input is a member of the Data Source dimension, not the Consolidation dimension. It is used to identify data that is entered or loaded directly into the application. FCCS Total Input And Adjusted is a member of the Account dimension, not the Consolidation dimension. It is used to aggregate data from input accounts and adjustment accounts.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 31; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-8.
NEW QUESTION # 41
You want to display a single value in a financial dashboard from a single cell in a form.
Which type of chart would you select?
- A. Line
- B. Tile
- C. Gauge
- D. Bar
Answer: B
Explanation:
Explanation
To display a single value in a financial dashboard from a single cell in a form, you would select a Tile chart. A Tile chart is a type of chart that shows a single value with an optional label and icon. You can use a Tile chart to highlight a key performance indicator or a summary metric from your data. The other types of charts, such as Bar, Gauge, and Line, are not suitable for displaying a single value from a single cell. They are used to display multiple values or comparisons across different dimensions or categories. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 53; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-10.
NEW QUESTION # 42
Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)
- A. The child entity is NOT a shared entity.
- B. The default currency of the child is different from the default currency of the parent.
- 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.
Answer: B,D
Explanation:
Explanation
The two conditions that are required for foreign currency translation to take place during the default consolidation process are:
The default currency of the child is different from the default currency of the parent.
Reporting currencies have been defined in the Currency dimension.
These conditions ensure that there is a need and a way to translate the child entity's data into another currency.
If the child entity has the same default currency as the parent, there is no need for translation. If reporting currencies have not been defined in the Currency dimension, there is no way to specify exchange rates or translation methods. The other options are not required for foreign currency translation. The child entity can be a shared entity, as long as it has a different default currency than its parent. To specify exchange rates, you do not need to set up multiple currencies when creating an application; you can do it later in Data Management.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 31; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-16.
NEW QUESTION # 43
Which two statements are true about Enterprise Journals? (Choose two.)
- A. Line items can only include entities that have been enabled for Enterprise Journals.
- B. Users with either the Service Administrator or Power User role can create Enterprise Journal templates.
- C. You cannot deploy Enterprise Journals to a period with Pending status.
- D. You can assign a team as preparer or reviewer.
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 # 44
Which statement is true about an approval process with the Phase Dependency option enabled?
- A. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
- B. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
- C. Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
- D. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
Answer: D
Explanation:
Explanation
The statement that is true about an approval process with the Phase Dependency option enabled is: Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase. The Phase Dependency option is used to enforce sequential submission of data by different entities or groups of entities within an approval unit hierarchy. If this option is enabled, data for an earlier phase must be promoted to a higher level before data for a later phase can be promoted to the same level or higher. For example, if Phase 1 data is at level 2 and Phase 2 data is at level 1, Phase 2 data cannot be promoted to level 2 or higher until Phase 1 data is promoted to level 3 or higher. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-10.
NEW QUESTION # 45
Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?
- A. Data can be stored by the intercompany partner but no eliminations occur.
- B. The ICP dimension is omitted.
- C. An extra custom dimension is available.
- D. The FCCS No Intercompany member of the ICP dimension is used for all data.
Answer: B
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 # 46
What action requires refreshing the database?
- A. You edit the alias for a member in the Entity dimension.
- B. You edit the Consolidation Operator for a member in the Account dimension.
- C. You change the ownership percentage for an entity.
- D. You deploy a new Configurable Calculation rule in Calculation Manager.
Answer: A
Explanation:
Explanation
The action that requires refreshing the database is editing the alias for a member in the Entity dimension.
Refreshing the database is a process that synchronizes the changes made to metadata with the data stored in the database. You need to refresh the database after making changes to metadata that affect data aggregation or calculation, such as editing member names, formulas, consolidation operators, etc. Editing the alias for a member in the Entity dimension is one of such changes, because it affects how data is displayed in reports and forms. The other actions do not require refreshing the database. Deploying a new Configurable Calculation rule in Calculation Manager, changing the ownership percentage for an entity, and editing the Consolidation Operator for a member in the Account dimension do not affect data aggregation or calculation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 21; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-4.
NEW QUESTION # 47
How do you navigate if you want to export a form to a Snapshot file?
- A. From the Navigator menu, select Forms.
- B. From the Home page, select Tools, and then Migration.
- C. Open the form, select Actions, and then Export.
- D. From the Home page, select Tools, and then Clone Snapshot.
Answer: C
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 # 48
Which two statements about the Copy Data function are true? (Choose two.)
- A. You can select which Consolidation dimension member to copy.
- B. When you select the Regular Data option, journals data is included.
- C. You can copy data for historical rate and amount overrides.
- D. You cannot select which Account members to copy.
Answer: A,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 # 49
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?
- A. There is no reason to consolidate years sequentially.
- B. Parent account calculations depend on the sequencing.
- C. Each period in the year must consolidate separately.
- D. Years should be consolidated sequentially to ensure that rollforward calculations are correct.
Answer: D
Explanation:
Explanation
The reason why years should be consolidated sequentially; i.e., first 2018, then 2019, then 2020, is to ensure that rollforward calculations are correct. Rollforward calculations are calculations that track the changes in balance sheet accounts from one period to another. For example, if an account has an opening balance of 100 in 2018 and a closing balance of 120 in 2018, the rollforward calculation will show a movement of 20 for
2018. If the same account has a closing balance of 150 in 2019, the rollforward calculation will show a movement of 30 for 2019. However, if the years are not consolidated sequentially, the rollforward calculations will not be accurate. For example, if 2019 is consolidated before 2018, the rollforward calculation will show a movement of -50 for 2018, which is incorrect. The other options are not reasons why years should be consolidated sequentially. Parent account calculations do not depend on the sequencing, each period in the year does not need to consolidate separately, and there is a reason to consolidate years sequentially. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-7.
NEW QUESTION # 50
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