Free Oracle 1Z0-1081-23 Exam Actual Questions

The questions for 1Z0-1081-23 were last updated On Apr 2, 2025

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Question No. 1

For business processes that use the Make Period and Movement Dense feature, which statement is FALSE?

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Correct Answer: C

The statement that is false about when Intercompany Data is enabled is: All parent members in the Account dimension must have a Solve Order value of 58. This statement is not true because the Solve Order value of 58 is only required for the parent members of the Movement dimension, not the Account dimension. The Solve Order value determines the order of calculation for members with formulas. The Movement dimension uses a Solve Order value of 58 to ensure that the movement calculations are performed after the account calculations. The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, intercompany entities must be children of the same parent for eliminations, and the Intercompany Entity attribute must be set to Yes to store intercompany data.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18-19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.


Question No. 2

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. 3

Which statement is FALSE about the Equity Pickup feature?

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Correct Answer: C

The statement that is false about the Equity Pickup feature is: Equity Pickup requires that Ownership Management with the Equity Pickup feature is enabled. This is false because Equity Pickup does not require Ownership Management to be enabled; it can work with either Ownership Management or Ownership Data Source as long as they have equity accounts defined. The other statements are true about the Equity Pickup feature. Seeded rule sets are provided for Equity Pickup, which can be customized or copied as needed. Equity Pickup rules run as part of the consolidation process, after currency translation and before intercompany eliminations. Equity Pickup rules can also be run on demand from the Rules card by users with launch permission.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 5-22.


Question No. 4

Which is NOT a Financial Consolidation and Close task that you can perform using EPM Automate?

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Correct Answer: D

Exporting metadata is not a Financial Consolidation and Close task that you can perform using EPM Automate. EPM Automate is a command-line tool that allows you to automate various tasks in Financial Consolidation and Close, such as importing journals, running a business rule, loading a data file, etc. However, exporting metadata is not one of the supported tasks. To export metadata, you need to use the Migration tool in the web interface or the Smart View extension for Microsoft Office.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 83-84; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-1.


Question No. 5

In the approval process, which four dimensions constitute an approval unit? (Choose four.)

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Correct Answer: B, C, D, E

In the approval process, the four dimensions that constitute an approval unit are:

Year: This is the fiscal year for which the data is submitted.

Scenario: This is the type of data that is submitted, such as Actual, Budget, or Forecast.

Period: This is the time period within the fiscal year for which the data is submitted, such as Month, Quarter, or Year.

Data Source (Entity): This is the combination of Data Source and Entity dimensions that identifies the source and destination of the data.

The other options are not dimensions that constitute an approval unit. Account is not a dimension that is used in the approval process, as it represents all accounts in the application. Data Source (Entity) already includes Data Source as a sub-dimension, so it does not need to be specified separately.Reference: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 15; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-13.


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