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Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q110-Q115):

NEW QUESTION # 110
For your
business process, owners of approval units should be able to lock and unlock data without going.
through an approval process.
Which action should you perform?

A. Select as owners only users with the Service Administrator or Power User security role.
B. Select the Consolidation template when setting up the Approval Unit hierarchy.
C. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
D. Delete the default Approval Unit hierarchy.

Answer: B

Explanation:
Section: (none)
To lock or unlock an entity, you must create an approval unit hierarchy containing the entities you want to lock.
By default, Financial Consolidation and Close provides an approval unit named "Total Geography".
locking_and_unlocking_entities.html

NEW QUESTION # 111
On what days during the month does Oracle apply patch updates to fix bugs, apply code optimizations, and add new features?

A. the first and third Monday of each month; first Monday for TEST and third Monday for PROD
B. the third Friday of each month to apply to both TEST and PROD simultaneously
C. the first and third Friday of each month; first Friday for TEST and third Friday for PROD
D. the second and fourth Friday of each month; second Friday for TEST and fourth Friday for PROD

Answer: C

NEW QUESTION # 112
Which three dimensions can be included in an approval group? (Choose three.)

A. Entity
B. Scenario
C. Account
D. Movement
E. Multi-GAAP

Answer: A,B,C

Explanation:
The three dimensions that can be included in an approval group are:
Entity: This is the dimension that represents the organizational structure of the business. You can include entities or entity groups in an approval group to define the scope of data submission and approval.
Account: This is the dimension that represents the financial accounts of the business. You can include accounts or account groups in an approval group to define the type of data that needs to be submitted and approved.
Scenario: This is the dimension that represents the type of data that is submitted, such as Actual, Budget, or Forecast. You can include scenarios or scenario groups in an approval group to define the purpose of data submission and approval.
The other options are not dimensions that can be included in an approval group. Multi-GAAP is a dimension that represents the different accounting standards that are used to report financial data, such as IFRS or US GAAP. Movement is a dimension that represents the changes in account balances over time, such as Opening Balance, Closing Balance, or Net Movement.Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 15;Oracle Financial Consolidation and Close Cloud Service User's Guide, page 2-14.

NEW QUESTION # 113
Which two members of the Consolidation dimension cause the standard foreign currency translation rules to be ignored? (Choose two.)

A. FCCS_Rate Override
B. FCCS_Elimination
C. FCCS_Proportion
D. FCCS_Translation
E. FCCS_Amount_Override
F. FCCS_Contribution

Answer: A,B

NEW QUESTION # 114
Which statement correctly describes what happens to parent entities during consolidation?

A. For each child entity, the period Opening Balance is subtracted from the period Closing Balance to determine the current period change value, and the values are aggregated to the FCCSJEntrty Consolidation member of the parent.
B. Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities
C. The changes in the relational database are synced to the underlying Essbase cube.
D. Since parent entities are tagged as Dynamic Calc. the consolidation has no effect on the entity dimension.

Answer: B

Explanation:
The statement that correctly describes what happens to parent entities during consolidation is: Data from the FCCS Contribution Consolidation dimension member of the child entities is aggregated and stored in the FCCS Entity Consolidation member of the parent entities. This means that the data from the child entities after applying ownership percentage and currency translation is summed up and stored in the parent entities before applying intercompany eliminations and adjustments. The other statements are incorrect descriptions of what happens to parent entities during consolidation. Parent entities are not tagged as Dynamic Calc; they are tagged as Store or Dynamic Calc and Store, depending on whether they have input data or not. The consolidation does affect the entity dimension, as it updates the calculation status and data values of each entity. The changes in the relational database are not synced to the underlying Essbase cube; they are stored in both places simultaneously.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.

NEW QUESTION # 115
......

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Free PDF Quiz 2025 Marvelous Oracle 1Z0-1081-24: Oracle Financial Consolidation and Close 2024 Implementation Professional Valid Exam Pdf

New 1Z0-1081-24 Exam Pattern - Detailed 1Z0-1081-24 Answers

Oracle Financial Consolidation and Close 2024 Implementation Professional Sample Questions (Q110-Q115):

Pass Guaranteed Quiz 2025 1Z0-1081-24: The Best Oracle Financial Consolidation and Close 2024 Implementation Professional Valid Exam Pdf

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