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Latest Update Oracle 1Z0-1081-20 Exam Practice Questions and Answers Online Test

When designing a report in Financial Reporting Studio, which two are insertable report objects?
A. Chart
B. Grid
C. Header
D. Footer
Correct Answer: AB
Report objects include: Grids Text
Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/frweb/GUID-3559E92E-0EC6-42F8-BB48-97875171067E.pdf


Which statement is FALSE when Intercompany Data is enabled?
A. The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.
B. Tracking intercompany eliminations are optional.
C. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.
D. Intercompany accounts are assigned plug accounts.
Correct Answer: C
Elimination data applies to all children, including children with a different Domicile than the Parent, a blended rate is
entered at the Parent Entity\\’s domicile. If you want to disable the elimination global rules, do not enter rates at the
Parent entity.
Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/admin_tax_automation_intercompany_eliminations_100x084ae29f.html


Which four sample ratios can be selected during business process creation?
A. Inventory Ratios
B. Gross Margin
C. Contribution Margin
D. Earnings per Share
E. Debt Ratio
F. Days Sales in Receivables
Correct Answer: BCDF


Which of the following is allowed for accounts with the data storage type of “Dynamic Calc”?
A. Load data to this account.
B. Create member formulas.
C. Load data to this account and create member formulas.
D. Enter data through a data form.
Correct Answer: C


What member of the Currency dimension is associated with the Entity Input member of the Consolidation dimension?
A. Parent Currency
B. Local Currency
C. Base Currency
D. Entity Currency
Correct Answer: D
Reference: https://www.platformspecialists.com/blogs-case-studies/understanding-consolidations-in-fccs


A company has two subsidiaries with 1000 EURO each in the Cash account.
If the consolidation percentage is 100%, which four Consolidation members will reflect 2000 EURO at the company\\’s
A. FCCS_Contribution
B. FCCS_Entity Total
C. FCCS_Proportion
D. FCCS_Elimination
E. FCCS_Entity Consolidation
F. FCCS_Entity Input
Correct Answer: ACEF
Reference: https://docs.oracle.com/en/cloud/saas/tax-reporting-cloud/agtrc/admin_dimensions_consolidate_100x5ad83cd9.html


Which two are required fields when registering a source system in Data Management?
A. Source System Type
B. Cloud Type
C. Drill Through URL
D. Name
Correct Answer: CD
Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/erpia/registering_filebased_source_systems.html


Which security rights are required to have access to Dimension Management from directly within the Financial
Consolidation and Close?
A. Metadata Supervisor
B. Power User
C. Metadata Administrator
D. Service Administrator
Correct Answer: D
Service Administrators have to Write access to all dimension members and to all forms.
Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPMINFORMATIONDEVELOPMENT-TEAM-E93973-628A1C2A.pdf


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 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 of Company XYZ to Parent Currency
B. A consolidation of Company 123
C. A consolidation of Company XYZ
D. A translation to the USD_Reporting currency member for Company IOU
Correct Answer: A


For your business process, you need to modify the results calculated by the Balance Sheet system rule.
Which is the proper method to modify the results of the default Balance Balance Sheet calculation?
A. Click Final Calculations on the Consolidation Process page and add a Configurable Calculation rule in the Calculation
B. Click Configurable Consolidation on the Consolidation Process page and create a Configurable Consolidation ruleset.
C. Edit the numbers using a web form or Smart View after consolidating.
D. Create an on-demand rule in Calculation Manager that you run after consolidation.
Correct Answer: B
From the Consolidation Process page, select the Consolidated tab, and then select configurable
Click the Create Rule Set.
Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/consolidation_creating_rule_sets.html


What is the correct Currency dimension member to select when running an Intercompany Matching Report?
A. Parent Currency
B. Reporting Currency
C. Input Currency
D. Entity Currency
Correct Answer: B
Currency (Must be a Reporting Currency)
Reference: https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/usfcc/setting_up_intercompany_matching_reports.html


Which three combinations of dimensions could be valid for a Financial Consolidation and Close business process?
A. Multi-GAAP, Data Type, Intra-company
B. Data Source, Consolidation, View
C. Period, Year, Entity
D. Currency, Movement, Scenario
E. Value, Entity, Account
Correct Answer: BCD
Reference: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/erpia/fccs_supported_dimensions_104x1e19a4b9.html


A company based in the United Kingdom has its 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 a historical rate in the GBP
reporting currency?
A. Rate data for Common Stock must be loaded or entered in the Override Rates form.
B. Common Stock must have an Exchange Rate Type set to Historical Rate Override.
C. Common Stock must have a Data Storage property set to Never Share.
D. USD must be created as a reporting currency.
E. The subsidiary must have a parent entity with a GBP currency.
Correct Answer: AE

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