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Oracle 1z0-1081-23 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

Question 1

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 an earlier phase cannot be changed from Approved to Locked until data for all later phases has been 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 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.

Question 2

For which four dimensions does Financial Consolidation and Close maintain calculation status? (Choose four.)

A. Year
B. Consolidation
C. Data Source
D. Scenario
E. Period
F. Entity

Question 3

Which two statements are true about the Multi-GAAP feature? (Choose two.)

A. Select this option if you need to report your financial statements only in IFRS.
B. Enabling Multi-GAAP reduces the number of custom dimensions you can have.
C. When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.
D. You must specify a prefix for entities that use the alternate gap standard.

Question 4

For your business process, owners of approval units should be able to lock and unlock data without going through an approval process.
Which action should you perform?

A. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
B. Select users with the Service Administrator security role.
C. Select the Consolidation template when setting up the Approval Unit hierarchy.
D. Delete the default Approval Unit hierarchy.

Question 5

Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

A. The FCCS No Intercompany member of the ICP dimension is used for all data.
B. Data can be stored by the intercompany partner but no eliminations occur.
C. An extra custom dimension is available.
D. The ICP dimension is omitted.

Solutions: