Free Oracle 1Z0-1081-23 Exam Actual Questions

The questions for 1Z0-1081-23 were last updated On Nov 5, 2024

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Question No. 1

A. They are available only if Intercompany Data with Tracking is enabled for the business process.

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Correct Answer: B

The statement that is true about Opening Balance Override rules is: Opening Balance Override rules execute for the first period in the year only. This means that the rules only apply to the opening balances of the first period, such as January or Q1, and not to the subsequent periods. The opening balances of the subsequent periods are derived from the closing balances of the previous periods. The other statements are false about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process; they are available for any business process that has intercompany data. You can select which entities to include in the rule scope, but you cannot select which accounts to include in the rule scope. The rules apply to all accounts that have intercompany data.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 33;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-25.


Question No. 2

What is the result of enabling the Calculate Movements system rule?

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Correct Answer: D

The result of enabling the Calculate Movements system rule is: Closing Balance is aggregated from Opening Balance and the current period's movement value. The Calculate Movements system rule is a predefined rule that calculates the movement values for each account based on the opening balance and closing balance input values. The rule also aggregates the closing balance from the opening balance and the current period's movement value. The rule can be executed manually or automatically depending on the application settings. The other options are not results of enabling the Calculate Movements system rule.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 59-60; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-4.


Question No. 3

Which statement is FALSE about running consolidations?

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Correct Answer: C

The statement that is false about running consolidations is: When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated. This is false because running consolidation for a child entity only affects the child entity and its descendants, not the parent entity or its siblings. The parent entity will only be re-consolidated if it has the Impacted calculation status or if you use the Force Consolidate option. The other statements are true about running consolidations.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-7.


Question No. 4

Where can you set the default member for the Currency dimension in a Data Integration integration?

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Correct Answer: D

The default member for the Currency dimension in a Data Integration integration can be set in the Location Attributes in the Create Integration dialog box. This attribute specifies the currency that will be used for loading data if no currency mapping is defined. The other options do not allow setting the default member for the Currency dimension. The Map Members tab in the Create Integration dialog box is used to map members from source to target dimensions. The Options tab of the Application Details dialog box is used to set general options for Data Integration, such as logging level, parallel threads, etc. The Run Integration dialog box is used to execute an integration and monitor its status.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 41; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 8-4.


Question No. 5

You want to display a single value in a financial dashboard from a single cell in a form.

Which type of chart would you select?

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Correct Answer: B

To display a single value in a financial dashboard from a single cell in a form, you would select a Tile chart. A Tile chart is a type of chart that shows a single value with an optional label and icon. You can use a Tile chart to highlight a key performance indicator or a summary metric from your data. The other types of charts, such as Bar, Gauge, and Line, are not suitable for displaying a single value from a single cell. They are used to display multiple values or comparisons across different dimensions or categories.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 53; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-10.


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