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Oracle 1z0-1081-23 Exam Syllabus Topics:

Oracle Financial Consolidation and Close 2023 Implementation Professional Sample Questions:

Question #1

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

Question #2

Which two statements are true about shared members in Valid Intersection rules? (Choose two.)

A. Selecting the primary instance of a member does not include shared members.
B. If a shared member is selected for a rule, the primary instance of the member is selected as well.
C. Selecting a shared member for a rule does not include its primary instance.
D. If the primary instance of the member is selected for a rule, all shared members for the instances are included.

Question #3

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

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

Question #4

You need a report that displays all adjustments to account balances of child entities for a parent, including journal adjustments, intercompany eliminations, and adjustments from consolidation rules.
Which type of report can you run to accomplish this?

A. Intercompany
B. Financial
C. Consolidation
D. Journal

Question #5

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

Solutions: