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Oracle Exam 1Z0-1081-23 Topic 1 Question 7 Discussion

Actual exam question for Oracle's 1Z0-1081-23 exam
Question #: 7
Topic #: 1
[All 1Z0-1081-23 Questions]

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

Show Suggested Answer Hide Answer
Suggested Answer: D

The statement that is true about Opening Balance Override rules is: You can select which accounts to include in the rule scope. Opening Balance Override rules are a type of business rules that allow you to override the opening balance values for selected accounts in selected entities. You can use these rules to adjust opening balances for specific scenarios or periods without affecting prior periods or other scenarios. You can select which accounts to include in the rule scope by using member selection or member formulas. The other statements are not true about Opening Balance Override rules. They are not available only if Intercompany Data with Tracking is enabled for the business process, they execute for any period in the year, not just the first one, and you cannot select which entities to include in the rule scope, only the parent entity.Reference:Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 63-64; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-2.


by Kate at Apr 13, 2024, 11:42 PM

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Dong
1 years ago
I see where you're coming from, Vi, but I still think C) You can select which entities to include in the rule scope is the correct answer, as it allows for more flexibility in managing the rules.
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Vi
1 years ago
I think B) Opening Balance Override rules execute for the first period in the year only actually makes the most sense, as it aligns with standard accounting practices.
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Talia
1 years ago
But don't you think D) You can select which accounts to include in the rule scope is more important when setting up the rule?
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Vilma
1 years ago
I disagree, I believe the answer is C) You can select which entities to include in the rule scope. That makes more sense to me.
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Talia
1 years ago
I think the correct answer is A) They are available only if Intercompany Data with Tracking is enabled for the business process.
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Louisa
1 years ago
I think both C and D are important, but A is crucial for the overall functionality of the rule.
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Caitlin
1 years ago
I see your point, but D) You can select which accounts to include in the rule scope seems more important for specific account management.
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Francesco
1 years ago
I believe C) You can select which entities to include in the rule scope is also true, as it allows for customization.
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Sommer
1 years ago
I agree, because Opening Balance Override rules are often used in intercompany scenarios.
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Lashunda
1 years ago
I think the correct answer is A) They are available only if Intercompany Data with Tracking is enabled for the business process.
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Peggie
1 years ago
I think it's actually C)
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Kallie
1 years ago
I agree, the correct answer is A)
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Joni
1 years ago
I've got a hunch it's option C, but I'm not totally sure. Maybe I should just start guessing and hope for the best.
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Ruthann
1 years ago
Okay, let's think this through logically. Which one of these options sounds the most plausible?
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Tamra
1 years ago
Intercompany data with tracking, huh? Sounds like a real party. I wonder if the exam writers are trying to trip us up with all these technicalities.
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Lauryn
1 years ago
Ah, the opening balance override rules - the bane of every accountant's existence! Let's see if we can figure this out.
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Laura
1 years ago
Hmm, I remember learning about this in class, but I can't quite recall the details. Time to review my notes!
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Staci
1 years ago
This is a pretty tricky question. I'm not too familiar with the Opening Balance Override rules, so I'll need to think this through carefully.
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