Online Access Free 1Z0-1081-21 Practice Test

A company has two subsidiaries with 1000 EURO each in the Cash account.
Which four Consolidation Members will reflect 2000 EURO at the company's balance? (Choose four.)

• A.FCCS_Entity Total
• B.FCCS_Elimination
• C.FCCS_Proportion
• D.FCCS_Entity Consolidation
• E.FCCS_Entity Input
• F.FCCS_Contribution

When creating an application in Financial Consolidation and Close (FCCS), what Time Periods sections can be made?

• A.Any number of months can be selected
• B.12-month, 13-month and a 14-month
• C.12-month only
• D.12-month and 13-month

Which statement is FALSE when Intercompany Data is enabled?

• A.The Intercompany Entity attribute for an Entity must be set to Yes to store intercompany data.
• B.Tracking intercompany eliminations is optional.
• C.Intercompany accounts are assigned plug accounts.
• D.In order for intercompany data to be eliminated, intercompany entities must be children of the same parent.

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

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 are repeatable over multiple close cycles
• B.when the tasks require multiple levels of approvers
• C.when the tasks are often late in completion and they need to be monitored more closely
• D.when the tasks require consistent definition across close schedules