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Oracle 1z0-1081-23 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

1. Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

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

2. Which statement is true about an approval process with the Phase Dependency option enabled?

A) 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
B) Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
C) Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
D) Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.

3. The company PQR has an ownership structure as shown below.

H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?

A) Hickory and Paducah
B) H 1 and P 2
C) No elimination is performed, because H 1 and P 1 do not have the same parent.
D) PQR

4. For which scenario would an On-Demand rule be an appropriate solution?

A) To add a column with a calculation to a report
B) To import data into a form or Smart View worksheet
C) To perform a custom currency translation for a subset of accounts
D) To allocate data to base entities prior to consolidation

5. Which two conditions are required for foreign currency translation to take place during the default consolidation process? (Choose two.)

A) To specify exchange rates you must set up multiple currencies when creating an application.
B) The default currency of the child is different from the default currency of the parent.
C) Reporting currencies have been defined in the Currency dimension.
D) The child entity is NOT a shared entity.

Solutions: