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- 1z0-1081-20: Oracle Financial Consolidation and Close 2020 Implementation Essentials
Free 1z0-1081-20: Oracle Financial Consolidation and Close 2020 Implementation Essentials Exam Questions and Answers
Last updated: April 21, 2025
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254-1z0-1081-20: Oracle Financial Consolidation and Close 2020 Implementation Essentials
#Question
What is the function of the 'close dashboard' in Oracle Financial Consolidation and Close?
A.
To limit user access
B.
To complicate the closing process
C.
To provide an overview of closing tasks and statuses
D.
To ignore performance metrics
Correct Answer:
C
The 'close dashboard' provides an overview of closing tasks and statuses, enhancing visibility into the consolidation process.
#Question
How can the use of financial simulations in Oracle Financial Consolidation and Close benefit organizations?
A.
By complicating the process
B.
By ignoring data
C.
By limiting insights
D.
By enabling testing of different financial scenarios
Correct Answer:
D
Enabling testing of different financial scenarios helps organizations evaluate potential outcomes and make informed decisions.
#Question
How does Oracle Financial Consolidation and Close improve data accuracy?
A.
By providing real-time data updates
B.
By complicating reporting
C.
By limiting data sources
D.
By increasing manual data entry
Correct Answer:
A
Providing real-time data updates improves data accuracy by reflecting current conditions in financial reporting.
#Question
What is a primary goal of the financial consolidation process in Oracle Financial Consolidation and Close?
A.
To reduce collaboration
B.
To ignore discrepancies
C.
To complicate workflows
D.
To produce timely and accurate financial reports
Correct Answer:
D
The primary goal is to produce timely and accurate financial reports, ensuring stakeholders have reliable information.
#Question
How can Oracle Financial Consolidation and Close aid in financial scenario analysis?
A.
By complicating calculations
B.
By ignoring user inquiries
C.
By limiting options
D.
By providing tools for what-if analysis
Correct Answer:
D
Providing tools for what-if analysis aids organizations in evaluating different financial scenarios effectively.
#Question
What is the role of historical data in the financial forecasting process using Oracle Financial Consolidation and Close?
A.
To ignore trends
B.
To limit reporting options
C.
To complicate calculations
D.
To provide a basis for future projections
Correct Answer:
D
Historical data provides a basis for future projections, enhancing the accuracy of financial forecasts.
#Question
How does the integration of Oracle Financial Consolidation and Close with other financial systems benefit organizations?
A.
By ignoring user needs
B.
By providing seamless data sharing
C.
By limiting data access
D.
By complicating reporting processes
Correct Answer:
B
Providing seamless data sharing enhances the accuracy and efficiency of financial reporting processes.
254-1z0-1081-20: Oracle Financial Consolidation and Close 2020 Implementation Essentials
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