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The Platform Oracle Financial Consolidation and Close 2024 Implementation Professional 1Z0-1081-24 Exam credential makes it simple to renew your skills and knowledge to keep up with the latest trends. The Platform Oracle Financial Consolidation and Close 2024 Implementation Professional 1Z0-1081-24 exam certification is a worthwhile, internationally accepted industry credential. You can become a recognized specialist in addition to learning new technological needs and honing your abilities.

Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q120-Q125):

NEW QUESTION # 120
You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.
What is the most efficient means to accomplish this?

A. Create a Groovy rule.
B. Create a valid intersection rule.
C. Create a Configurable Consolidation rule.
D. Create a Task Manager rule.

Answer: A

Explanation:
To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.

NEW QUESTION # 121
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)

A. FX Rates - Average
B. FX Rates - None
C. FX Rates - Historical
D. FX Rates - Opening
E. FX Rates - Ending

Answer: A,E

Explanation:
When configuring default translation methods for Flow and Balance accounts, two rate account options are available: FX Rates - Average and FX Rates - Ending. These rate account options determine which exchange rate is used to translate data from local currency to reporting currency. FX Rates - Average uses the average exchange rate for the period, which is suitable for flow accounts that capture movements within the period. FX Rates - Ending uses the ending exchange rate for the period, which is suitable for balance accounts that represent a point in time. The other rate account options, such as FX Rates - Historical, FX Rates - Opening, and FX Rates - None, are not available when configuring default translation methods for Flow and Balance accounts.Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 48; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-2.

NEW QUESTION # 122
Financial Consolidation Close Cloud maintains the status calculation for which combination of dimensions?

A. Period, Scenario, Base Entity and Parent Entity
B. Scenario, View, Parent Entity and Account
C. Scenario, Account, Base Entity and Parent Entity
D. Year, Scenario, Base Entity and Account

Answer: A

NEW QUESTION # 123
Which statement correctly describes what happens to parent entities during consolidation?

A. Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
B. The changes in the relational database are synced to the underlying Essbase cube.
C. For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
D. Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

Answer: A

Explanation:
The statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously.Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-7.

NEW QUESTION # 124
Which statement
is false regarding establishing security for Financial Consolidation and Close?

A. All members are accessible for dimensions with no security applied.
B. The Identity Domain Administrator inherits full access privileges.
C. Security is mandatory for one dimension.
D. Security can be assigned at a prevent level.
E. Security can be disabled for any dimension.

Answer: A

Explanation:
The Identity Domain Administrator is not a functional role; it does not inherit access privileges granted through functional roles. To access service features, the Identity Domain Administrator must be granted one of the four functional roles in Tax Reporting.
admin_security_predefined_roles_112x5e7954a4.html

NEW QUESTION # 125
......

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Bill Baker Bill Baker

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