1Z0-1081-22 Online Practice Questions and Answers

Which statement is correct regarding intercompany eliminations?

A. Intercompany eliminations are generally required to remove the effect of transactions within the company.

B. Intercompany eliminations are required for sustainability reporting to show the company's waste output.

C. Intercompany eliminations are optional in FCCS and use one of the custom dimensions when enabled.

D. Intercompany eliminations are needed when a company divests itself of a division.

Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

A. Scenario, Account, Base Entity and Parent Entity

B. Year, Scenario, Base Entity and Account

C. Scenario, View, Parent Entity and Account

D. Period, Scenario, Base Entity and Parent Entity

What is the Data Storage value for an account that must remain at a historical exchange rate and not retranslate with current rates?

A. Store

B. Never Share

C. No Rate

D. Dynamic Calc and Store

E. Dynamic

In which two instances will the FCCS_Mvmts_FX_to_CTA movement member populate in a translated currency?

A. Movement of FX impact for historical rate accounts to the FCCS_CTA account

B. A variance in the Average rate and the Ending rate

C. The current FCCS_CTA account balance does not change from the prior period

D. The account is FCCS_Net Income

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

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 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. You cannot load data to this account.

C. Add amounts aggregated to the parent.

D. Subtract amounts aggregated to the parent.

How do you enable multiple currencies within a Financial Consolidation and Close (FCCS) application?

A. Enable a dimension for Currency after application creation via a Metadata load.

B. During application creation, select the Multicurrency option of "No" and insert additional currencies within the Currency dimension.

C. During application creation, select the Multicurrency option of "Yes".

D. Add a new label for a currency when creating a new Entity member in the Reporting Currency attribute field.

How can the Intercompany dimension be enabled within your application?

A. In the metadata editor, select Enabled for the Intercompany property for the Entity dimension.

B. In the metadata editor, select IC_Acc_Yes for the Intercompany property for any account.

C. During application creation, select the Intercompany Data option.

D. In the metadata editor, select IC_Entity_Yes for the Intercompany Entity property for any entity.

Which of the following is allowed for accounts with the data storage type of "Dynamic Calc"?

A. Load data to this account.

B. Create member formulas.

C. Load data to this account and create member formulas.

D. Enter data through a data form