Online Access Free 1z1-983 Practice Test

PQR Company has the ownership structure shown above.
If H_1 lends money to P_2, the intercompany elimination of H_1's receivable occurs as data from Hickory consolidates into PQR. What is this principle called?

• A.First order relation
• B.Generation 0
• C.Lowest common denominator
• D.First common parent

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

• A.Additional GAAP adjustment can be created.
• B.The Multi-GAAP dimension is optional.
• C.Two custom dimensions are available after enabling Multi-GAAP.
• D.The system automatically creates an FCCS_IFRS member.

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.

What member of the Consolidation dimension aggregates the Proportion member and the Elimination members?

• A.FCCS_Entity Consolidation
• B.FCCS_Entity Total
• C.FCCS_Parent Currency
• D.FCCS_Contribution

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

• A.Never Share
• B.Store
• C.Dynamic Calc and Store
• D.No Rate
• E.Dynamic