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Most Recent Oracle 1Z0-1081-23 Exam Questions & Answers


Prepare for the Oracle Financial Consolidation and Close 2023 Implementation Professional exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Oracle 1Z0-1081-23 exam and achieve success.

The questions for 1Z0-1081-23 were last updated on Nov 20, 2024.
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Question No. 1

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

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Correct Answer: B, D

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.Reference: [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.


Question No. 2

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.)

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Correct Answer: A, C, E

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.Reference: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.


Question No. 3

Which two are NOT selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager? (Choose two.)

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Correct Answer: B, D

Year and Period are not selectable as Workflow dimensions for a Collection Interval in Supplemental Data Manager. Supplemental Data Manager is a feature that allows you to collect and review additional data that is not part of the standard consolidation process, such as tax schedules, disclosures, etc. A Collection Interval is a set of dimensions that defines the scope of data collection for a Form Group. The Workflow dimensions are the dimensions that determine the approval process for the data entered in the forms. The selectable Workflow dimensions are Scenario, Entity, and Account. Year and Period are not Workflow dimensions because they are fixed by the application settings and do not require approval.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 79-80; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 12-2.


Question No. 4

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

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Correct Answer: A, B, D, F

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.Reference: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.


Question No. 5

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

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Correct Answer: A

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.Reference: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.


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