Oracle 1z0-1081-23 : Oracle Financial Consolidation and Close 2023 Implementation Professional

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Oracle 1z0-1081-23 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?

A) Intercompany Entity
B) Is Plug Account
C) Plug Account
D) Intercompany Account

2. What is the result of enabling the Calculate Movements system rule?

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

3. Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?

A) Parent account calculations depend on the sequencing.
B) Years should be consolidated sequentially to ensure that rollforward calculations are correct.
C) There is no reason to consolidate years sequentially.
D) Each period in the year must consolidate separately.

4. Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)

A) Reporting currencies have been defined in the Currency dimension.
B) To specify exchange rates you must set up multiple currencies when creating an application.
C) The child entity is NOT a shared entity.
D) The default currency of the child is different from the default currency of the parent.

5. 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?

A) Consolidation
B) Journal
C) Intercompany
D) Financial

Solutions: