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Oracle 1z0-1081-20 Exam Practice Questions (P. 3)

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Question #11
What will Financial Consolidation and Close do when aggregating data for a member that is set as an expense type account to a parent that is set as an income type account?
  1. A
    This setting does not affect aggregation to the parent.
  2. B
    You cannot load data to this account.
  3. C
    Add amounts aggregated to the parent.
  4. D
    Subtract amounts aggregated to the parent.

Correct Answer:
C
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/aggregation_consolidation_operator.html

Question #12
Which two statements are true of the roll forward calculation in the Movement dimension?
  1. A
    Values for base-level Movement members are calculated as the difference between Closing Balance and Opening Balance.
  2. B
    Translated values for Closing Balance are adjusted to the ending rate for the period.
  3. C
    Values for Opening Balance are retrieved from the prior period Closing Balance.
  4. D
    Data for opening balances must be loaded to the Opening Balance member prior to consolidation.

Correct Answer:
BC
If Entity currency and Parent currency Closing Balance data does not exist in the prior period, then the Ending Rate for the prior period is used.
Opening balance is calculated from the prior period's Closing Balance.
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/built_in_calculations.html https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/built_in_calculations.html

Question #13
In the Movement dimension, for which two can you modify the default translation calculation?
  1. A
    Base-level members under FCCS_Mvmts Subtotal
  2. B
    Opening Balance
  3. C
    Closing Balance
  4. D
    Opening Balance Input

Correct Answer:
AB
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPMENT-TEAM-E93973-628A1C2A.pdf http://www.allreadable.com/3128VWfe

Question #14
You need a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?
  1. A
    Consolidation Report
  2. B
    Journal Report
  3. C
    Intercompany Report
  4. D
    Financial Report

Correct Answer:
A
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/consolidation_report.html

Question #15
Once metadata is updated and the database refresh has completed successfully, how will the status for all entities be listed via the default Data Status grid?
  1. A
    Impacted
  2. B
    Need Translate
  3. C
    OK
  4. D
    System Changed (SC)

Correct Answer:
D
The entity's calculation status must be OK, No Data, or System Change. You cannot lock an entity with Impacted calculation status.
Reference:
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/locking_and_unlocking_entities.html

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