Updated Mar-2024 Test Engine to Practice 1z0-1081-23 Test Questions [Q33-Q58]

Updated Mar-2024 Test Engine to Practice 1z0-1081-23 Test Questions

1z0-1081-23 Real Exam Questions Test Engine Dumps Training With 60 Questions

NEW QUESTION # 33
Which customization can you perform on the Navigation Flows page?

• A. Set a default POV by user group.
• B. Add or Hide cards.
• C. Select a color scheme.
• D. Select a data form to display at start up based on user group.

Answer: B

Explanation:
Explanation
The customization that you can perform on the Navigation Flows page is to add or hide cards. Cards are the icons that link to different features or functions of the application. You can customize which cards are visible or hidden for each user group by using the Navigation Flows page. The other options are not customizations that you can perform on the Navigation Flows page. You cannot set a default POV by user group, select a color scheme, or select a data form to display at start up based on user group from this page. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-5.

NEW QUESTION # 34
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.
• C. Enter data through a data form.
• D. Load data to this account and create member formulas.

Answer: A

NEW QUESTION # 35
Which two statements are true about shared members in Valid Intersection rules? (Choose two.)

• A. If the primary instance of the member is selected for a rule, all shared members for the instances are included.
• B. Selecting a shared member for a rule does not include its primary instance.
• C. If a shared member is selected for a rule, the primary instance of the member is selected as well.
• D. Selecting the primary instance of a member does not include shared members.

Answer: A,B

Explanation:
Explanation
The following statements are true about shared members in Valid Intersection rules:
If the primary instance of the member is selected for a rule, all shared members for the instances are included. This means that data can be entered or calculated for any shared member of the primary member.
Selecting a shared member for a rule does not include its primary instance. This means that data can be entered or calculated only for the specific shared member, not for the primary member or other shared members. The other statements are not true about shared members in Valid Intersection rules. If a shared member is selected for a rule, the primary instance of the member is not selected as well. Selecting the primary instance of a member does include shared members. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 69; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-6.

NEW QUESTION # 36
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 contains members to store non-controlling interest and joint venture data.
• D. The dimension allows users to view data in the parent currency.

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 # 37
Which statement is true of reporting currencies?

• A. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
• B. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
• C. All input currencies that you add are automatically added as reporting currencies as well.
• D. All reporting currency members have the suffix Reporting.

Answer: B

Explanation:
Explanation
The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 21; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-17.

NEW QUESTION # 38
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. Bar
• B. Line
• C. Gauge
• D. Tile

Answer: D

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 # 39
Which two statements about the Copy Data function are true? (Choose two.)

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

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 # 40
Security is enabled for the Account dimension, but you have not assigned member access rights to any users or groups.
What will be users' default access to members in the Account dimension?

• A. Write
• B. Read
• C. Comment
• D. None

Answer: B

Explanation:
Explanation
The users' default access to members in the Account dimension when security is enabled but no member access rights are assigned is Read. This means that users can view data for any account member, but they cannot enter or modify data. Read is also the default access level for any dimension when security is enabled but no member access rights are assigned. The other options are not users' default access to members in the Account dimension when security is enabled but no member access rights are assigned. None means that users cannot view or modify data for any account member, which would prevent them from using the application.
Comment means that users can view and comment on data for any account member, but they cannot enter or modify data.
Write means that users can view and modify data for any account member, which would give them full access to the application.
References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 17; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-9.

NEW QUESTION # 41
Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?

• A. Export metadata
• B. Import journals
• C. Run a business rule
• D. Load a data file

Answer: A

Explanation:
Explanation
Exporting metadata is not a Financial Consolidation and Close task that you can perform using EPM Automate. EPM Automate is a command-line tool that allows you to automate various tasks in Financial Consolidation and Close, such as importing journals, running a business rule, loading a data file, etc. However, exporting metadata is not one of the supported tasks. To export metadata, you need to use the Migration tool in the web interface or the Smart View extension for Microsoft Office. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 83-84; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-1.

NEW QUESTION # 42
Which three dimensions can be included in an approval group? (Choose three.)

• A. Account
• B. Multi-GAAP
• C. Scenario
• D. Entity
• E. Movement

Answer: A,C,D

Explanation:
Explanation
The three dimensions that can be included in an approval group are:
Entity: This is the dimension that represents the organizational structure of the business. You can include entities or entity groups in an approval group to define the scope of data submission and approval.
Account: This is the dimension that represents the financial accounts of the business. You can include accounts or account groups in an approval group to define the type of data that needs to be submitted and approved.
Scenario: This is the dimension that represents the type of data that is submitted, such as Actual, Budget, or Forecast. You can include scenarios or scenario groups in an approval group to define the purpose of data submission and approval.
The other options are not dimensions that can be included in an approval group. Multi-GAAP is a dimension that represents the different accounting standards that are used to report financial data, such as IFRS or US GAAP. Movement is a dimension that represents the changes in account balances over time, such as Opening Balance, Closing Balance, or Net Movement. : Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 15; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-14.

NEW QUESTION # 43
Which two rate accounts are available in the seeded exchange rate forms? (Choose two.)

• A. Ending Rate
• B. Local Rate
• C. Average Rate
• D. Opening Rate

Answer: A,C

Explanation:
Explanation
The seeded exchange rate forms display two rate accounts: Average Rate and Ending Rate. These rate accounts show the exchange rates used for translating data from local currency to reporting currency. The Average Rate account shows the average exchange rate for the period, which is used for translating flow accounts. The Ending Rate account shows the ending exchange rate for the period, which is used for translating balance accounts. The other rate accounts, such as Local Rate, Opening Rate, and Historical Rate, are not available in the seeded exchange rate forms. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 49-50; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-4.

NEW QUESTION # 44
Which four sample ratios can be selected during business process creation? (Choose four.)

• A. Contribution Margin
• B. Earnings per Share
• C. Gross Margin
• D. Debt Ratio
• E. Days Sales in Receivables
• F. Inventory Ratios

Answer: C,D,E,F

Explanation:
Explanation
The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.

NEW QUESTION # 45
Which statement is true of journals created from Recurring templates?

• A. The line items in journals created from Recurring templates are read only.
• B. The initial status of journals created from Recurring templates is Posted.
• C. Journals for recurring templates are created automatically when you open a period for journals.
• D. The initial status of journals created from Recurring templates is Approved.

Answer: C

Explanation:
Explanation
Journals for recurring templates are created automatically when you open a period for journals. Recurring templates are used to create journals that repeat in multiple periods with the same or different amounts. You can specify the frequency, start period, end period, and amount type for recurring templates. The initial status of journals created from recurring templates is Unposted, not Approved or Posted. The line items in journals created from recurring templates are editable, not read only. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 75-76; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 10-7.

NEW QUESTION # 46
Which two are members in the Consolidation dimension? (Choose two.)

• A. FCCS Total input And Adjusted
• B. FCCS Proportion
• C. FCCS Entity Input
• D. FCCS Data Input

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 # 47
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. An extra custom dimension is available.
• C. The FCCS No Intercompany member of the ICP dimension is used for all data.
• D. The ICP dimension is omitted.

Answer: D

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 # 48
Where do you set the Intercompany Entities Aggregation option?

• A. In the Setup Wizard during business process creation
• B. On the Properties page of the Intercompany dimension
• C. In the member properties of the Intercompany Entities member
• D. In the member properties of the Intercompany Top member

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 # 49
Which statement about Opening Balance Override rules is true?

• A. You can select which accounts to include in the rule scope.
• B. You can select which entities to include in the rule scope.
• C. They are available only if Intercompany Data with Tracking is enabled for the business process.
• D. Opening Balance Override rules execute for the first period in the year only.

Answer: A

Explanation:
Explanation
The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.

NEW QUESTION # 50
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)

• A. Member mappings
• B. Scenario
• C. Target application
• D. Data tile name

Answer: A,C

Explanation:
Explanation
In Data Integration integrations, the two attributes that are linked to the location selected for the integration are:
Target application: This is the application where the data will be loaded to. You can select only one target application per location.
Member mappings: These are the rules that map the source data members to the target application members. You can create or edit member mappings for each location.
The other options are not linked to the location. The scenario is selected in the Execute Integration dialog box, and the data file name is specified in the Workbench. : 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 # 51
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)

• A. Set the consolidation member on the form to FCCS Entity Input.
• B. Grant the data input users Write access to the dimension members used on the form.
• C. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
• D. Set the currency on the form to Parent Currency.
• E. Select level 0 dimension members for POV\ rows, and columns. www*'

Answer: A,B,E

Explanation:
Explanation
The three actions that are consistent with creating a form that allows users to input data are:
Set the consolidation member on the form to FCCS Entity Input. This is the member that represents the input data for each entity before consolidation.
Select level 0 dimension members for POV, rows, and columns. This ensures that the form displays the lowest level of detail for each dimension.
Grant the data input users Write access to the dimension members used on the form. This allows them to enter or modify data on the form.
The other options are not consistent with creating a form that allows users to input data. In the member selection for Entity, you can include shared entities if you want to allow data input for multiple instances of an entity. Setting the currency on the form to Parent Currency would display the data in the parent entity's currency, not the input currency. 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 4-2.

NEW QUESTION # 52
Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

• A. All members are accessible for dimensions with no security applied.
• B. Security can be disabled for any dimension.
• C. Security is mandatory for one dimension.
• D. The Identity Domain Administrator inherits full access privileges.
• E. Security can be assigned at a parent level.

Answer: B

Explanation:
Explanation
The statement that is false regarding establishing security for Financial Consolidation and Close is: Security can be disabled for any dimension. This is false because security is mandatory for one dimension: Entity. You cannot disable security for this dimension, as it controls access to data by entity. The other statements are true regarding establishing security for Financial Consolidation and Close. The Identity Domain Administrator inherits full access privileges by default. Security can be assigned at a parent level, which applies to all descendants of that parent. All members are accessible for dimensions with no security applied, unless they are restricted by another dimension. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 17; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-8.

NEW QUESTION # 53
Which statement is FALSE about Task Manager schedules?

• A. Users can still complete tasks in a schedule that has been closed.
• B. You can still add tasks to a schedule that has been closed.
• C. To start all the tasks in a schedule, you must change the status from Pending to Open.
• D. You can re-open a schedule that has been locked.

Answer: B

Explanation:
Explanation
The statement that is false about Task Manager schedules is: You can still add tasks to a schedule that has been closed. This is false because you cannot add tasks to a schedule that has been closed; you can only add tasks to a schedule that is open or pending. Closing a schedule means that the schedule is completed and no further changes are allowed. The other statements are true about Task Manager schedules. Users can still complete tasks in a schedule that has been closed, as long as the tasks are not past due. You can re-open a schedule that has been locked, as long as you have the Unlock Schedule role assignment. To start all the tasks in a schedule, you must change the status from Pending to Open, which triggers the task start dates and due dates. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 43; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 8-4.

NEW QUESTION # 54
Which statement is FALSE when you are cloning a Financial Consolidation and Close environment?

• A. You must have both the Service Administrator and Identify Domain administrator roles to execute the Clone.
• B. You can include the inbox and outbox contents in the clone.
• C. The most recent Artifact Snapshot created by daily maintenance is used for the snapshot.
• D. You can include Data Management artifacts in the clone.

Answer: C

Explanation:
Explanation
The statement that is false when you are cloning a Financial Consolidation and Close environment is: The most recent Artifact Snapshot created by daily maintenance is used for the snapshot. This statement is not true because when you clone a Financial Consolidation and Close environment, you can choose which Artifact Snapshot to use for the snapshot. You can select either the most recent Artifact Snapshot or a specific Artifact Snapshot that you have created or imported. The other statements are true when you are cloning a Financial Consolidation and Close environment. You must have both the Service Administrator and Identify Domain administrator roles to execute the clone, you can include Data Management artifacts in the clone, and you can include the inbox and outbox contents in the clone. References: Oracle Financial Consolidation and Close
2023 Implementation Essentials Study Guide, page 86-87; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-7.

NEW QUESTION # 55
To which Financial Consolidation and Close dimension(s) do you map Data Management periods?

• A. Period
• B. Period and Year
• C. View
• D. Period, Year, and View

Answer: D

Explanation:
Explanation
When mapping Data Management periods to Financial Consolidation and Close dimensions, you need to map them to Period, Year, and View dimensions. Data Management is a feature that allows you to load data from external sources into Financial Consolidation and Close using integrations, locations, mappings, etc. When mapping Data Management periods, you need to specify the Period (such as Jan, Feb, Mar, etc.), the Year (such as FY20, FY21, FY22, etc.), and the View (such as Periodic or YTD) for each source period. This ensures that the data is loaded into the correct target period in Financial Consolidation and Close. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 40-41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-5.

NEW QUESTION # 56
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)

• A. Footer
• B. Header
• C. Chart
• D. Grid

Answer: C,D

Explanation:
Explanation
Grid and Chart are two types of insertable report objects when designing a report in Financial Reporting Studio. Financial Reporting Studio is a tool that allows you to create reports based on the data in Financial Consolidation and Close using various report objects, such as grids, charts, text boxes, images, etc. A Grid report object displays data in rows and columns with optional calculations and formatting. A Chart report object displays data in graphical form with different chart types, such as bar, pie, line, etc. The other options, such as Header and Footer, are not insertable report objects but report sections that can contain report objects. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 51-52; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-2.

NEW QUESTION # 57
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