Pass Your 1z0-1081-23 Exam Easily - Real 1z0-1081-23 Practice Dump Updated Aug 08, 2024 [Q10-Q31]

Pass Your 1z0-1081-23 Exam Easily - Real 1z0-1081-23 Practice Dump Updated Aug 08, 2024

2024 Realistic Verified Free Oracle 1z0-1081-23 Exam Questions

NEW QUESTION # 10
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 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.
• C. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.
• D. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.

Answer: C

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 # 11
Which two are insertable report objects when designing a report in Financial Reporting Studio? (Choose two.)

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

Answer: A,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 # 12
Which statement correctly describes what happens to parent entities during consolidation?

• A. The changes in the relational database are synced to the underlying Essbase cube.
• B. For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
• C. Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
• D. Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

Answer: C

Explanation:
Explanation
The statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-7.

NEW QUESTION # 13
Which statement is FALSE when you are cloning a Financial Consolidation and Close environment?

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

Answer: A

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 # 14
When using the Copy Data feature to copy data, for which two dimensions is member selection NOT available? (Choose two.)

• A. Account
• B. Movement
• C. View
• D. Consolidation

Answer: C,D

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 # 15
Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

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

Answer: D

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 # 16
Which two are members in the Consolidation dimension? (Choose two.)

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

Answer: A,B

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 # 17
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 the primary instance of a member does not include shared members.
• C. Selecting a shared member for a rule does not include its primary instance.
• D. If a shared member is selected for a rule, the primary instance of the member is selected as well.

Answer: A,C

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 # 18
Which customization can you perform on the Navigation Flows page?

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

Answer: D

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 # 19
What action requires refreshing the database?

• A. You edit the Consolidation Operator for a member in the Account dimension.
• B. You deploy a new Configurable Calculation rule in Calculation Manager.
• C. You change the ownership percentage for an entity.
• D. You edit the alias for a member in the Entity dimension.

Answer: D

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 # 20
Which two statements about the Copy Data function are true? (Choose two.)

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

Answer: C,D

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 # 21
Which three dimensions can be included in an approval group? (Choose three.)

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

Answer: C,D,E

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 # 22
Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?

• A. The parent entity has a different currency than the child.
• B. A rate was entered into the FCCS Rate Override account.
• C. An intercompany elimination was performed.
• D. An ownership percentage for the entity other than 100 was entered.

Answer: D

Explanation:
Explanation
The statement that explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member is: An ownership percentage for the entity other than 100 was entered. This means that the entity is not fully owned by its parent, and therefore its data is adjusted by the ownership percentage when it is consolidated. The FCCS_Entity Input member shows the data before consolidation, while the FCCS_Proportion member shows the data after applying the ownership percentage. The other options do not explain why the data might be different. A rate entered into the FCCS Rate Override account affects the currency translation, not the consolidation. The parent entity having a different currency than the child also affects the currency translation, not the consolidation. An intercompany elimination is performed after consolidation, not before, and it affects the FCCS_Eliminations member, not the FCCS_Proportion member. 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 5-9.

NEW QUESTION # 23
In Data Integration integrations, which two attributes are linked to the location selected for the integration?
(Choose two.)

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

Answer: A,B

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 # 24
Which statement is FALSE about running consolidations?

• A. Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.
• B. When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.
• C. When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.
• D. When you consolidate a parent, children with the Impacted calculation status are also consolidated.

Answer: B

Explanation:
Explanation
The statement that is false about running consolidations is: When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated. This is false because running consolidation for a child entity only affects the child entity and its descendants, not the parent entity or its siblings. The parent entity will only be re-consolidated if it has the Impacted calculation status or if you use the Force Consolidate option. The other statements are true about running consolidations. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-7.

NEW QUESTION # 25
Which four items are included in the Currency dimension? (Choose four.)

• A. Entity Currency
• B. Default Currency
• C. Reporting Currencies
• D. Parent Currency
• E. Journal Input Currencies
• F. Input Currencies

Answer: A,C,E,F

Explanation:
Explanation
The four items that are included in the Currency dimension are:
Input Currencies: These are the currencies that are used to enter data into the application. They are based on the default currency of each entity.
Journal Input Currencies: These are the currencies that are used to enter journals into the application.
They are based on the default currency of each entity or reporting currency.
Entity Currency: This is a dynamic member that represents the default currency of each entity. It is used to display data in the entity's currency without translation.
Reporting Currencies: These are the currencies that are used to translate data into different currencies for reporting purposes. They are defined by the administrator and can be based on any currency.
The other options are not included in the Currency dimension. Parent Currency is a member of the Consolidation dimension, not the Currency dimension. It is used to display data in the parent entity's currency after translation. Default Currency is a property of the Entity dimension, not a member of the Currency dimension. It is used to specify the input currency for each entity. 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 3-2.

NEW QUESTION # 26
Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)

• A. Ownership Percentage
• B. Control
• C. Consolidation Percentage
• D. Minority Interest Percentage
• E. Consolidation Method

Answer: A,C,E

Explanation:
Explanation
The three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-6.

NEW QUESTION # 27
Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?

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

Answer: C

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 # 28
What is the result of enabling the Calculate Movements system rule?

• A. To support forecasting and budgeting, periodic movements are calculated from the quarterly or annual target values that are entered.
• B. Level 0 movement members become read only in web forms, and must be populated through data load.
• C. Closing Balance is aggregated from Opening Balance and the current period's movement value.
• D. The current period's movement value is calculated as the difference between Closing Balance Input and Opening Balance.

Answer: C

Explanation:
Explanation
The result of enabling the Calculate Movements system rule is: Closing Balance is aggregated from Opening Balance and the current period's movement value. The Calculate Movements system rule is a predefined rule that calculates the movement values for each account based on the opening balance and closing balance input values. The rule also aggregates the closing balance from the opening balance and the current period's movement value. The rule can be executed manually or automatically depending on the application settings.
The other options are not results of enabling the Calculate Movements system rule. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 59-60; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-4.

NEW QUESTION # 29
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)

• A. Grant the data input users Write access to the dimension members used on the form.
• B. Set the consolidation member on the form to FCCS Entity Input.
• 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 # 30
When do you enable submission phases for your approval process?

• A. When you set the member properties for the entity
• B. When you set up the approval unit hierarchy
• C. When you start the approval process for an approval unit on the Manage Approvals page
• D. When you assign the approval unit hierarchy to a scenario, period, and year

Answer: B

Explanation:
Explanation
You enable submission phases for your approval process when you set up the approval unit hierarchy.
Submission phases are optional steps that allow you to control the order and timing of data submission by different entities or groups of entities. You can define up to four submission phases for each approval unit hierarchy and assign entities to different phases. You can also set dependencies between phases to ensure that data is submitted in a sequential manner. Submission phases are not enabled when you start the approval process for an approval unit on the Manage Approvals page, when you set the member properties for the entity, or when you assign the approval unit hierarchy to a scenario, period, and year. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 28-29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-9.

NEW QUESTION # 31
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