Oracle 1z0-1081 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1z0-1081
Exam Name/Title: Oracle Financial Consolidation and Close 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financial Consolidation and Close Cloud Service

Exam Questions: 86
Updated On: Jul 07, 2026

Question #37

When can the Intercompany Dimension be enabled and n=made visible within your application?

A. after application creation by selecting any Account as IC_Acc_Yes for the Intercompany Account attribute

B. after application creation by selecting any Entity as IC_Entity_Yes for the Intercompany Entity attribute

C. during application creation and selecting the Intercompany Data feature option

D. during application creation and selecting Multi-source Data Input of Other Data

Discussion 0

Correct Answer: C Vote an answer

Question #38

When designing a report in Financial Reporting Studio, which condition should NOT be considered for a Financial Consolidation and Close (FCCS) report?

A. Designing dynamic reports

B. Expanded vs. single data segments

C. Report performance

D. Suppress missing blocks

Discussion 0

Correct Answer: D Vote an answer

Question #39

Which dimension includes the FCCS_Global Assumption member that is used to store currency information?

A. From Currency

B. Entity

C. Currency

D. Account

Discussion 0

Correct Answer: A Vote an answer

Question #40

In Financial Close Manager, when would you choose to define tasks in a Template rather than create a new Schedule each month?

A. when the tasks require consistent definition across close schedules

B. when the tasks are often late in completion and they need to be monitored more closely

C. when the tasks are repeatable over multiple close cycles

D. when the tasks require multiple levels of approvers

Discussion 0

Correct Answer: B Vote an answer

Question #41

P, Q, and R are children of a mid-level parent entity, AceCo. In February each entity has cash in the amounts of 10, 20, and 30, respectively, and AceCo has been consolidated and has cash of 60. A prior period adjustment to Q adjusts cash with a debit of 5.
Which statement regarding consolidation is correct?

A. There is no way to do a prior period entry like this.

B. February should be consolidated, after which the cash at AceCo is now 65.

C. January and February should be consolidated.

D. January should be consolidated for the change and nothing needs to happen for February.

Discussion 0

Correct Answer: C Vote an answer

Question #42

For which three levels can Profiles be set in Data Management?

A. Source System

B. Application

C. User

D. System

E. Category

Discussion 0

Correct Answer: B,C,D Vote an answer

Question #43

You have added a new task to a close schedule with a task due date past the defined end date of the schedule.
What is the result of the change?

A. The task will not run.

B. The schedule end date changes to match the end date of the task.

C. The new task will run outside of the schedule end date.

D. An error, you can't add a new task past the due date.

Discussion 0

Correct Answer: C Vote an answer

Question #44

A client company has expanded quickly in the past year and has recognized the need to move their financial team off spreadsheets and to a more verifiable and automated solution.
Which two requirements from this team would Oracle's Financial Consolidation and Close Cloud Service satisfy? (Choose two.)

A. leverage compliance efforts to fix process issues across all businesses and provide oversight for risk awareness

B. provide the ability to collaborate during close and analyse transaction detail in real time

C. a configurable reporting solution with prebuild dimensions, KPIs, reports along with a process to adjust data, monitor the close status and view data and compliance results in dashboards

D. robust consolidation engine that provides automated aggregations, intercompany eliminations and translations without requiring a strong IT footprint

E. dashboard reporting with daily revenue comparisons and KPI's that measure cost controls

Discussion 0

Correct Answer: C,E Vote an answer

Question #45

What is the primary function of enabling the Track Intercompany Elimination option during the application creation?

A. enables the application to perform Intercompany eliminations

B. process will separate total elimination values by Data Source.

C. enables the Elimination member in the Consolidation dimension

D. enables the application to include Intercompany data.

Discussion 0

Correct Answer: B Vote an answer

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