Free Oracle 1Z0-1081-23 Exam Actual Questions

The questions for 1Z0-1081-23 were last updated On Nov 21, 2024

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Question No. 1

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. 2

You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.

What is the most efficient means to accomplish this?

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Correct Answer: A

To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.


Question No. 3

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

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Correct Answer: C

Question No. 4

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?

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Correct Answer: C

For H_1 to have an intercompany transaction with P_2, consolidation needs to be run for Hickory and Paducah entities in order for the transaction to be eliminated. Intercompany transactions are transactions between entities that belong to the same group or consolidation hierarchy. Intercompany transactions need to be eliminated during consolidation to avoid double-counting of revenues, expenses, assets, liabilities, etc. Intercompany transactions are eliminated at the common parent entity level of the intercompany entities. For example, if H_1 has an intercompany transaction with P_2, the transaction will be eliminated at Hickory level (the parent of H_1) and Paducah level (the parent of P_2). The other options are not correct. PQR is not the common parent entity of H_1 and P_2, so consolidation does not need to be run for PQR to eliminate the transaction. H_1 and P_2 are not parent entities, so consolidation does not need to be run for them either. Intercompany transactions can be eliminated even if intercompany entities do not have the same parent, as long as they share a common ancestor entity.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.


Question No. 5

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.


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