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Oracle 1Z0-1081-24 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions:

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

A) Data Management
B) Financial Close Management
C) Supplemental Data Management
D) Process Management
E) Account Reconciliation Management

2. 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.

3. When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?

A) 12-month, 13-month and a 14-month
B) 12-month and 13-month
C) 12-month only
D) Any number of months can be selected

4. 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) Common Stock must have a Data Storage property set to Never Share.
B) USD must be created as a reporting currency.
C) The subsidiary must have a balance not equal to zero in Common Stock.
D) Common Stock must have an Exchange Rate Type set to Historical Rate Override.
E) The subsidiary must have a parent entity with a GBP currency.

5. Three child entities - P, Q, and R - of a mid-level parent entity - AceCo - have account receivables in the amounts of 10, 20, and 30, respectively.
Which statement contains conditions for all three entities that would cause the account receivable balance amount at AceCo not to be 60?

A) P has the same currency as AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.
B) P has a different currency than AceCo, Q is 40% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.
C) P has a different currency than AceCo, Q is 100% owned, and R has 10 of the 30 as an intercompany receivable balance with Q.
D) P has the same currency as AceCo, Q is 90% owned, and R has 10 of the 30 as an intercompany receivable balance with another division that is not a descendant of AceCo.

Solutions: