Free Oracle 1Z0-1081-23 Exam Actual Questions

The questions for 1Z0-1081-23 were last updated On May 8, 2025

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Question No. 1

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

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Correct Answer: C

The statement that is true about an approval process with the Phase Dependency option enabled is: Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase. The Phase Dependency option is used to enforce sequential submission of data by different entities or groups of entities within an approval unit hierarchy. If this option is enabled, data for an earlier phase must be promoted to a higher level before data for a later phase can be promoted to the same level or higher. For example, if Phase 1 data is at level 2 and Phase 2 data is at level 1, Phase 2 data cannot be promoted to level 2 or higher until Phase 1 data is promoted to level 3 or higher.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-10.


Question No. 2

Which statement is FALSE when you are cloning a Financial Consolidation and Close environment?

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Correct Answer: C

The statement that is false when you are cloning a Financial Consolidation and Close environment is: The most recent Artifact Snapshot created by daily maintenance is used for the snapshot. This statement is not true because when you clone a Financial Consolidation and Close environment, you can choose which Artifact Snapshot to use for the snapshot. You can select either the most recent Artifact Snapshot or a specific Artifact Snapshot that you have created or imported. The other statements are true when you are cloning a Financial Consolidation and Close environment. You must have both the Service Administrator and Identify Domain administrator roles to execute the clone, you can include Data Management artifacts in the clone, and you can include the inbox and outbox contents in the clone.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 86-87; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-7.


Question No. 3

Which components are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution?

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Correct Answer: B

The components that are prebuilt into Financial Consolidation and Close to provide a configurable and scalable consolidation solution are calculations, dashboards, and reports as well as detailed data source tracking and an automated cash flow. These components enable you to perform financial consolidation and close processes with best practices, efficiency, and accuracy. The calculations include predefined consolidation rules, currency translation methods, intercompany eliminations, ownership management, etc. The dashboards and reports provide insights into the consolidation results, process status, data quality, etc. The data source tracking allows you to track the origin and adjustments of data from different sources. The automated cash flow generates cash flow statements based on the movement accounts.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 11-12; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 1-2.


Question No. 4

Which three can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled? (Choose three.)

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Correct Answer: A, C, E

The three components that can be manually edited on the Manage Ownership page in a Financial Consolidation and Close business process with Ownership Management enabled are Consolidation Percentage, Ownership Percentage, and Consolidation Method. These components are part of the ownership details that define how an entity is consolidated with its parent entity. You can manually edit these components on the Manage Ownership page for each entity, scenario, year, and period. The other components, such as Control and Minority Interest Percentage, are not editable on the Manage Ownership page. They are either calculated automatically based on the ownership percentage or derived from the consolidation method.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 25-26; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-6.


Question No. 5

Which of the following is allowed for accounts with the data storage type of Dynamic Calc?

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Correct Answer: C

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