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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 statement about Opening Balance Override rules is true?

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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
6 months 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
6 months 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
6 months 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
6 months 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
6 months 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
6 months 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
7 months 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
7 months 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
7 months ago
I agree, because Opening Balance Override rules are often used in intercompany scenarios.
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Lashunda
7 months 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
7 months ago
I think it's actually C)
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Kallie
7 months ago
I agree, the correct answer is A)
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Joni
8 months 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
8 months ago
Okay, let's think this through logically. Which one of these options sounds the most plausible?
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Tamra
8 months 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
8 months 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
8 months 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
8 months 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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