1Z0-1081-24 Online Practice Questions and Answers

Which three key requirements does the Financial Consolidation and Close Cloud Service (FCCS) deliver to ensure a modern consolidation and close solution? (Choose three.)

A. Ensure security of sensitive data.

B. Integrate with source systems.

C. Provide predictive analysis and modeling.

D. Provide a strong compliance framework that includes auditing and segregation of duties.

Which four statements are true about the members in the FCCS_Cash Flow hierarchy in the Movement dimension? (Choose four.)

A. The Cash Change hierarchy cannot be modified.

B. All primary Movement members under the FCCS_Mvmts_Subtotal member must be included in the FCCS_CashFlow hierarchy.

C. The seeded member FCCS_Mvmts_AccountsPayable found within the FCCS_CashFlow hierarchy has a Subtraction operator.

D. Input level members under the FCCS_Mvmts_Subtotal are Shared members in the FCCS_CashFlow hierarchy.

E. Standard cash accounts are members of the FCCS_CashFlow_Operating hierarchy.

F. Siblings can be added to the FCCS_CashFlow_Investing member.

Financial Consolidation and Close Cloud Service (FCCS) provides a consolidation path through which dimension combination?

A. Consolidation, Currency, Account

B. Currency, Account, Movement

C. Entity, Consolidation, Currency

D. Entity, Currency, Account

Which option can be used for quarter distributions on a 13-month time period calendar when creating a Financial Consolidation and Close Cloud (FCCS) application?

A. 3-3-3-3

B. 3-3-3-4

C. 4-4-4-4

D. 4-4-4-5

An entity's Common Stock balance is made up of data loaded through Data Management and an adjusting journal entry posted in the application. The Common Stock balance must not re-translate each month. What two data entries need to happen to have the Common Stock balance bypass the default translation of equity accounts? (Choose two.)

A. Data entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Managed Data.

B. A journal entry to reverse the adjusted Common Stock balance with the Data Source member FCCS_Journal Input.

C. A journal entry to the Common Stock account with the FCCS_Amount Override member of the Consolidation dimension and the Data Source member FCCS_Journal Input.

D. Data entry to the Common Stock account with the Multi-GAAP FCCS_Adjustments member and the Data Source member FCCS_Data Input.

Which statement is FALSE when enabling a Multi-GAAP application?

A. Two custom dimensions are available after enabling Multi-GAAP.

B. The Multi-GAAP dimension is optional.

C. The system automatically creates an FCCS_IFRS member.

D. Additional GAAP adjustment can be created.

When creating a Financial Consolidation and Close (FCCS) application, which initial Multi-source data options can be selected? (Choose two)

A. ERP Cloud

B. Supplemental Data

C. Data Management

D. ERP r12

What is the function of Source Mapping in Data Management?

A. Map local dimension members to the application dimension members.

B. Manage source periods in relation to global periods.

C. Defined the input currency for each data source supplying data to the application.

D. Define the close calendar periods.

A company is based in the United Kingdom and has an application currency set to GBP. The company collects data from a United States based subsidiary. The subsidiary's functional currency is USD. Which two items facilitate the reporting of the subsidiary's Common Stock balance at an historical rate in the GBP reporting currency? (Choose two.)

A. Common Stock must have an Exchange Rate Type set to Historical Rate Override.

B. The subsidiary must have a balance not equal to zero in Common Stock.

C. Common Stock must have a Data Storage property set to Never Share.

D. USD must be created as a reporting currency.

E. The subsidiary must have a parent entity with a GBP currency.

To have access to Dimension Management from directly within Financial Consolidation and Close (FCCS) which security rights are required?

A. Metadata Administrator

B. Metadata Supervisor

C. System Administrator

D. Power User