Oracle Financial Consolidation and Close 2023 Implementation Professional

Here you have the best Oracle 1z0-1081-23 practice exam questions

You have 60 total questions to study from
Each page has 5 questions, making a total of 12 pages
You can navigate through the pages using the buttons at the bottom
This questions were last updated on October 28, 2025
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Question 1 of 60

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?

Select the Consolidation template when setting up the Approval Unit hierarchy.

Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.

Select users with the Service Administrator security role.

Delete the default Approval Unit hierarchy.

Correct Answer: B

Question 2 of 60

How do you navigate if you want to export a form to a Snapshot file?

From the Home page, select Tools, and then Clone Snapshot.

Open the form, select Actions, and then Export.

From the Home page, select Tools, and then Migration.

From the Navigator menu, select Forms.

Correct Answer: B

Question 3 of 60

Which statement is FALSE about running consolidations?

When you consolidate an entity for a period, prior periods with the Impacted calculation status are also consolidated.

When you consolidate a parent, children with the Impacted calculation status are also consolidated.

When you run consolidation for a child with the Impacted calculation status, the parent entity is also re-consolidated.

Running consolidation using the Force Consolidate option consolidates entities with any calculation status other than OK or NO DATA.

Correct Answer: C

Question 4 of 60

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

The child entity is NOT a shared entity.

The default currency of the child is different from the default currency of the parent.

Reporting currencies have been defined in the Currency dimension.

To specify exchange rates, you must set up multiple currencies when creating an application.

Correct Answer: B, C

Question 5 of 60

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?

Journal

Financial

Intercompany

Consolidation

Correct Answer: D