Free Oracle 1Z0-1081-23 Exam Actual Questions & Explanations

Name: Oracle Financial Consolidation and Close 2023 Implementation Professional
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Question No. 1

Security is enabled for the Account dimension, but you have not assigned member access rights to any users or groups.

What will be users' default access to members in the Account dimension?

ANone

BRead

CComment

DWrite

Show Answer

Correct Answer: B

The users' default access to members in the Account dimension when security is enabled but no member access rights are assigned is Read. This means that users can view data for any account member, but they cannot enter or modify data. Read is also the default access level for any dimension when security is enabled but no member access rights are assigned. The other options are not users' default access to members in the Account dimension when security is enabled but no member access rights are assigned. None means that users cannot view or modify data for any account member, which would prevent them from using the application. Comment means that users can view and comment on data for any account member, but they cannot enter or modify data. Write means that users can view and modify data for any account member, which would give them full access to the application.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 17;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-9.

Question No. 2

Which statement is FALSE regarding establishing security for Financial Consolidation and Close?

AThe Identity Domain Administrator inherits full access privileges.

BSecurity is mandatory for one dimension.

CSecurity can be assigned at a parent level.

DSecurity can be disabled for any dimension.

EAll members are accessible for dimensions with no security applied.

Show Answer

Correct Answer: D

The statement that is false regarding establishing security for Financial Consolidation and Close is: Security can be disabled for any dimension. This is false because security is mandatory for one dimension: Entity. You cannot disable security for this dimension, as it controls access to data by entity. The other statements are true regarding establishing security for Financial Consolidation and Close. The Identity Domain Administrator inherits full access privileges by default. Security can be assigned at a parent level, which applies to all descendants of that parent. All members are accessible for dimensions with no security applied, unless they are restricted by another dimension.Reference: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 17; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-8.

Question No. 3

Which four sample ratios can be selected during business process creation? (Choose four.)

AInventory Ratios

BDebt Ratio

CContribution Margin

DDays Sales in Receivables

EEarnings per Share

FGross Margin

Show Answer

Correct Answer: A, B, D, F

The four sample ratios that can be selected during business process creation are Inventory Ratios, Debt Ratio, Days Sales in Receivables, and Gross Margin. These ratios are predefined calculations that can be used to measure the financial performance and position of an entity. You can select one or more of these ratios when creating a business process in Financial Consolidation and Close. The other options, such as Contribution Margin and Earnings per Share, are not sample ratios that can be selected during business process creation.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 14; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-6.

Question No. 4

When do you enable submission phases for your approval process?

AWhen you start the approval process for an approval unit on the Manage Approvals page

BWhen you set up the approval unit hierarchy

CWhen you set the member properties for the entity

DWhen you assign the approval unit hierarchy to a scenario, period, and year

Show Answer

Correct Answer: B

You enable submission phases for your approval process when you set up the approval unit hierarchy. Submission phases are optional steps that allow you to control the order and timing of data submission by different entities or groups of entities. You can define up to four submission phases for each approval unit hierarchy and assign entities to different phases. You can also set dependencies between phases to ensure that data is submitted in a sequential manner. Submission phases are not enabled when you start the approval process for an approval unit on the Manage Approvals page, when you set the member properties for the entity, or when you assign the approval unit hierarchy to a scenario, period, and year.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 28-29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-9.

Question No. 5

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

AMap Members tab in the Create Integration dialog box

BOptions tab of the Application Details dialog box

CRun Integration dialog box

DLocation Attributes in the Create Integration dialog box

Show Answer

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.