Oracle Financial Consolidation and Close 2024 Implementation Professional

Question 1

A new Sheet tab in Excel is copied from an existing tab that contains a Smart View query, but clicking Refresh does not refresh the data and the Smart View (Point of View) POV bar does not display.
Which additional step is required to pull data in the new tab and change the POV?

A. Disconnect from the Smart View connection, and relog in.

B. Close out of Excel, and relog in to Smart View.

C. Activate the Connection.

D. Change one of the Row or Column dimension members and click Refresh.

Correct Answer: D

Question 2

You are required to define a form that displays all form data for only specific View dimension member and not allow users to change this.
Where on the form do you define the View dimension and select the correct member?

A. the Page Axis

B. the Point of View

C. a column

D. Other Options section

Correct Answer: B

Question 3

Audit is enabled by default for which task categories?

A. All task categories

B. Metadata Administration and Security

C. Data only

D. No task categories

Correct Answer: C

Question 4

Which components are pre-built into Financial Consolidation and Close Cloud Service to provide a configurable and scalable consolidation solution?

A. pre-built integrations to combine narrative and data to produce both internal and external reporting packages

B. calculations, dashboards and reports to provide analysis for cash flow modeling

C. calculations, dashboards and reports as well as detailed data source tracking and an automated cash flow

D. calculations, dashboards and reports built on planning frameworks to provide cash flow planning

Correct Answer: C

Question 5

What are
two important first steps in initially setting up Task Manager?

A. Create a schedule and set it to Open status.

B. Assign tasks to users.

C. Set up Users.

D. Define system settings such as Organization units, Holiday rules and Task attachment size.

Correct Answer: C,D

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 6

Which explains why the Currency dimension does NOT display in your application?

A. Multi-Currency option was not selected at application creation

B. Security has not been granted

C. Security access to the Multi-GAAP dimension is required

D. Entity-specific security rights were not properly granted

Correct Answer: A

Question 7

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. Delete the default Approval Unit hierarchy.

C. Select as owners only users with the Service Administrator or Power User security role.

D. Select the Consolidation template when setting up the Approval Unit hierarchy.

Correct Answer: D

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 8

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?

A. This setting does not affect aggregation to the parent.

B. Subtract amounts aggregated to the parent.

C. You cannot load data to this account.

D. Add amounts aggregated to the parent.

Correct Answer: D

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 9

For business processes that use the Make Period and Movement Dense feature, which statement is FALSE?

A. The View dimension stores only periodic data.

B. All parent members in the Account dimension must have a Solve Order value of 58.

C. Account is a Sparse dimension.

D. You cannot add member formulas to members of the Movement dimension.

Correct Answer: B

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 10

Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?

A. Calculations, dashboards, and reports to provide analysis for cash flow modeling

B. Calculations, dashboards, and reports built on planning frameworks to provide cash flow planning

C. Calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow

D. Pre-built integrations to combine narrative and data to produce both internal and external reporting packages

Correct Answer: C

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 11

Which statement is FALSE about when Intercompany Data is enabled?

A. In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.

B. Tracking intercompany eliminations is optional.

C. The Intercompany Entity attribute for an entity must be set to Yes to store intercompany data.

D. Intercompany accounts are assigned plug accounts.

Correct Answer: A

Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

Question 12

Which dimension includes the FCCS_Global Assumption member that is used to store currency information?

A. Entity

B. Currency

C. From Currency

D. Account

Correct Answer: C

Oracle Financial Consolidation and Close 2024 Implementation Professional - 1Z0-1081-24 Exam Practice Test

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