60 Q&As in UPDATED 1z0-1081-23 Exam Questions Certification Test Engine to PDF [Q13-Q36]

60 Q&As in UPDATED 1z0-1081-23 Exam Questions Certification Test Engine to PDF

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NEW QUESTION # 13
For business processes that use the Make Period and Movement Dense feature, which statement is FALSE?

• A. You cannot add member formulas to members of the Movement dimension.
• B. Account is a Sparse dimension.
• C. The View dimension stores only periodic data.
• D. All parent members in the Account dimension must have a Solve Order value of 58.

Answer: D

Explanation:
Explanation
The statement that is false about when Intercompany Data is enabled is: All parent members in the Account dimension must have a Solve Order value of 58. This statement is not true because the Solve Order value of 58 is only required for the parent members of the Movement dimension, not the Account dimension. The Solve Order value determines the order of calculation for members with formulas. The Movement dimension uses a Solve Order value of 58 to ensure that the movement calculations are performed after the account calculations.
The other statements are true about when Intercompany Data is enabled. Tracking intercompany eliminations is optional, intercompany accounts are assigned plug accounts, intercompany entities must be children of the same parent for eliminations, and the Intercompany Entity attribute must be set to Yes to store intercompany data. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18-19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.

NEW QUESTION # 14
Which statement is FALSE about Task Manager schedules?

• A. To start all the tasks in a schedule, you must change the status from Pending to Open.
• B. You can still add tasks to a schedule that has been closed.
• C. Users can still complete tasks in a schedule that has been closed.
• D. You can re-open a schedule that has been locked.

Answer: B

Explanation:
Explanation
The statement that is false about Task Manager schedules is: You can still add tasks to a schedule that has been closed. This is false because you cannot add tasks to a schedule that has been closed; you can only add tasks to a schedule that is open or pending. Closing a schedule means that the schedule is completed and no further changes are allowed. The other statements are true about Task Manager schedules. Users can still complete tasks in a schedule that has been closed, as long as the tasks are not past due. You can re-open a schedule that has been locked, as long as you have the Unlock Schedule role assignment. To start all the tasks in a schedule, you must change the status from Pending to Open, which triggers the task start dates and due dates. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 43; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 8-4.

NEW QUESTION # 15
Why should years be consolidated sequentially; i.e., first 2018, then 2019, then 2020?

• A. Each period in the year must consolidate separately.
• B. Parent account calculations depend on the sequencing.
• C. There is no reason to consolidate years sequentially.
• D. Years should be consolidated sequentially to ensure that rollforward calculations are correct.

Answer: D

Explanation:
Explanation
The reason why years should be consolidated sequentially; i.e., first 2018, then 2019, then 2020, is to ensure that rollforward calculations are correct. Rollforward calculations are calculations that track the changes in balance sheet accounts from one period to another. For example, if an account has an opening balance of 100 in 2018 and a closing balance of 120 in 2018, the rollforward calculation will show a movement of 20 for
2018. If the same account has a closing balance of 150 in 2019, the rollforward calculation will show a movement of 30 for 2019. However, if the years are not consolidated sequentially, the rollforward calculations will not be accurate. For example, if 2019 is consolidated before 2018, the rollforward calculation will show a movement of -50 for 2018, which is incorrect. The other options are not reasons why years should be consolidated sequentially. Parent account calculations do not depend on the sequencing, each period in the year does not need to consolidate separately, and there is a reason to consolidate years sequentially. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 24; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-7.

NEW QUESTION # 16
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 the Consolidation template when setting up the Approval Unit hierarchy.
• B. Select the Consolidation Bottom Up template when setting up the Approval Unit hierarchy.
• C. Delete the default Approval Unit hierarchy.
• D. Select users with the Service Administrator security role.

Answer: B

Explanation:
Explanation
The Consolidation Bottom Up template allows owners of approval units to lock and unlock data without going through an approval process. This template is suitable for organizations that do not require a formal approval process for data submission, but still want to control data access and track data status. The Consolidation template, on the other hand, requires owners of approval units to submit data for approval before they can lock it. The Service Administrator security role does not affect the approval process, and deleting the default Approval Unit hierarchy would disable the approval functionality altogether. References: 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 # 17
You want to display a single value in a financial dashboard from a single cell in a form.
Which type of chart would you select?

• A. Tile
• B. Line
• C. Gauge
• D. Bar

Answer: A

Explanation:
Explanation
To display a single value in a financial dashboard from a single cell in a form, you would select a Tile chart. A Tile chart is a type of chart that shows a single value with an optional label and icon. You can use a Tile chart to highlight a key performance indicator or a summary metric from your data. The other types of charts, such as Bar, Gauge, and Line, are not suitable for displaying a single value from a single cell. They are used to display multiple values or comparisons across different dimensions or categories. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 53; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 4-10.

NEW QUESTION # 18
When you set the Intercompany Account attribute for an account to Yes, which additional attribute must also be set in order for the account to be included in the elimination process?

• A. Plug Account
• B. Intercompany Account
• C. Is Plug Account
• D. Intercompany Entity

Answer: A

Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financial-consolidation-cloud/agfcc/EPM-INFORMATION-DEVELOPME

NEW QUESTION # 19
Which three dimensions can be included in an approval group? (Choose three.)

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

Answer: A,D,E

Explanation:
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 # 20
Where do you set the Intercompany Entities Aggregation option?

• A. In the member properties of the Intercompany Top member
• B. In the Setup Wizard during business process creation
• C. On the Properties page of the Intercompany dimension
• D. In the member properties of the Intercompany Entities member

Answer: D

Explanation:
Explanation
The place where you set the Intercompany Entities Aggregation option is in the member properties of the Intercompany Entities member. This is a system member in the Entity dimension that represents all entities that have intercompany data. You can set its aggregation option to either Dynamic Calc or Store, depending on whether you want to calculate or store its values. The other options are not places where you set the Intercompany Entities Aggregation option. In the member properties of the Intercompany Top member, you can set other options related to intercompany data, such as Intercompany Partner, Intercompany Elimination Entity, and Intercompany Elimination Method, but not Intercompany Entities Aggregation. On the Properties page of the Intercompany dimension, you can set options related to intercompany matching reports, such as Report Currency and Report Precision, but not Intercompany Entities Aggregation. In the Setup Wizard during business process creation, you can enable or disable intercompany data for your business process, but not set Intercompany Entities Aggregation. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 35; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-11.

NEW QUESTION # 21
The company PQR has an ownership structure as shown below.

H_1 has an intercompany transaction with P_2. For which entity or entities does consolidation need to be run in order for the transaction to be eliminated?

• A. No elimination is performed, because H 1 and P 1 do not have the same parent.
• B. PQR
• C. Hickory and Paducah
• D. H 1 and P 2

Answer: C

Explanation:
Explanation
For H_1 to have an intercompany transaction with P_2, consolidation needs to be run for Hickory and Paducah entities in order for the transaction to be eliminated. Intercompany transactions are transactions between entities that belong to the same group or consolidation hierarchy. Intercompany transactions need to be eliminated during consolidation to avoid double-counting of revenues, expenses, assets, liabilities, etc.
Intercompany transactions are eliminated at the common parent entity level of the intercompany entities. For example, if H_1 has an intercompany transaction with P_2, the transaction will be eliminated at Hickory level (the parent of H_1) and Paducah level (the parent of P_2). The other options are not correct. PQR is not the common parent entity of H_1 and P_2, so consolidation does not need to be run for PQR to eliminate the transaction. H_1 and P_2 are not parent entities, so consolidation does not need to be run for them either.
Intercompany transactions can be eliminated even if intercompany entities do not have the same parent, as long as they share a common ancestor entity. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 19; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-11.

NEW QUESTION # 22
When do you enable submission phases for your approval process?

• A. When you set the member properties for the entity
• B. When you assign the approval unit hierarchy to a scenario, period, and year
• C. When you start the approval process for an approval unit on the Manage Approvals page
• D. When you set up the approval unit hierarchy

Answer: D

Explanation:
Explanation
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. References: 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.

NEW QUESTION # 23
Which statement explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member?

• A. An intercompany elimination was performed.
• B. An ownership percentage for the entity other than 100 was entered.
• C. A rate was entered into the FCCS Rate Override account.
• D. The parent entity has a different currency than the child.

Answer: B

Explanation:
Explanation
The statement that explains why, in the Consolidation dimension, the data for an entity in the FCCS_Entity Input member might be different from the data in the FCCS_Proportion member is: An ownership percentage for the entity other than 100 was entered. This means that the entity is not fully owned by its parent, and therefore its data is adjusted by the ownership percentage when it is consolidated. The FCCS_Entity Input member shows the data before consolidation, while the FCCS_Proportion member shows the data after applying the ownership percentage. The other options do not explain why the data might be different. A rate entered into the FCCS Rate Override account affects the currency translation, not the consolidation. The parent entity having a different currency than the child also affects the currency translation, not the consolidation. An intercompany elimination is performed after consolidation, not before, and it affects the FCCS_Eliminations member, not the FCCS_Proportion member. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 31; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 5-9.

NEW QUESTION # 24
Which statement correctly describes the Consolidation dimension?

• A. The dimension allows users to view data in the parent currency.
• B. The dimension allows users to see input versus journal adjustment data.
• C. The dimension contains members to store non-controlling interest and joint venture data.
• D. The dimension uses a separate member for data from an entity's level-zero descendants.

Answer: D

Explanation:
Explanation
The Consolidation dimension is used to store data at different levels of consolidation, such as Entity Input, Entity Currency, Parent Currency, etc. The dimension uses a separate member for data from an entity's level-zero descendants, which is called the Contribution member. This member shows the data from the children entities before any adjustments or eliminations are applied. The other statements are not correct descriptions of the Consolidation dimension. The dimension does not allow users to view data in the parent currency (this is done by the Currency dimension), to see input versus journal adjustment data (this is done by the Data Source dimension), or to store non-controlling interest and joint venture data (this is done by the Ownership dimension). References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 15-16; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-8.

NEW QUESTION # 25
You want to prevent users from saving data in a form if the value entered for Headcount is greater than 1000.
What is the most efficient means to accomplish this?

• A. Create a Task Manager rule.
• B. Create a Groovy rule.
• C. Create a Configurable Consolidation rule.
• D. Create a valid intersection rule.

Answer: B

Explanation:
Explanation
To prevent users from saving data in a form if the value entered for Headcount is greater than 1000, you can create a Groovy rule that checks the value of the Headcount member and throws an exception if it exceeds the limit. This is the most efficient means to accomplish this because Groovy rules can be executed on forms and can validate data before saving. Task Manager rules, Configurable Consolidation rules, and valid intersection rules are not suitable for this requirement because they either run after data is saved or do not have the ability to check the value of a specific member. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 67-68; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 9-1.

NEW QUESTION # 26
Which statement about Opening Balance Override rules is true?

• A. You can select which accounts to include in the rule scope.
• B. You can select which entities to include in the rule scope.
• C. Opening Balance Override rules execute for the first period in the year only.
• D. They are available only if Intercompany Data with Tracking is enabled for the business process.

Answer: A

Explanation:
Explanation
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. References: 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.

NEW QUESTION # 27
For which task categories is Audit enabled by default?

• A. All task categories
• B. No task categories
• C. Data only
• D. Journals

Answer: A

Explanation:
Explanation
Audit is enabled by default for all task categories in Financial Consolidation and Close. Audit is a feature that allows you to track the changes made to data, metadata, security, application settings, etc. in Financial Consolidation and Close. You can view the audit records in the Audit page or export them to a file. Audit is enabled by default for all task categories, such as Data, Journals, Metadata, Security, etc., but you can disable it for specific task categories if needed. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 85; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 11-5.

NEW QUESTION # 28
In the approval process, which four dimensions constitute an approval unit? (Choose four.)

• A. Period
• B. Data Source (Entity)
• C. Account
• D. Year
• E. Scenario

Answer: A,B,D,E

Explanation:
Explanation
In the approval process, the four dimensions that constitute an approval unit are:
Year: This is the fiscal year for which the data is submitted.
Scenario: This is the type of data that is submitted, such as Actual, Budget, or Forecast.
Period: This is the time period within the fiscal year for which the data is submitted, such as Month, Quarter, or Year.
Data Source (Entity): This is the combination of Data Source and Entity dimensions that identifies the source and destination of the data.
The other options are not dimensions that constitute an approval unit. Account is not a dimension that is used in the approval process, as it represents all accounts in the application. Data Source (Entity) already includes Data Source as a sub-dimension, so it does not need to be specified separately. References: [Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide], page 15; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 2-13.

NEW QUESTION # 29
Which statement is true of reporting currencies?

• A. During consolidation, rates for translating to reporting currencies are calculated by triangulation through the rate for translating to the parent currency.
• B. All reporting currency members have the suffix Reporting.
• C. When you run the Consolidate business rule, you can select one or more reporting currencies to translate to.
• D. All input currencies that you add are automatically added as reporting currencies as well.

Answer: C

Explanation:
Explanation
The statement that is true of reporting currencies is: When you run the Consolidate business rule, you can select one or more reporting currencies to translate to. This allows you to perform currency translation for specific reporting currencies without affecting the other currencies. You can also select the All Reporting Currencies option to translate to all reporting currencies at once. The other statements are false of reporting currencies. During consolidation, rates for translating to reporting currencies are not calculated by triangulation through the rate for translating to the parent currency; they are calculated by using the direct rate between the input currency and the reporting currency. Not all input currencies that you add are automatically added as reporting currencies as well; you need to enable them as reporting currencies in the Currency dimension properties. Not all reporting currency members have the suffix Reporting; only the dynamic members that represent the reporting currencies for each entity have this suffix. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 21; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 5-17.

NEW QUESTION # 30
Which statement is true about an approval process with the Phase Dependency option enabled?

• A. 'Data for an earlier phase cannot be changed from Approved to Locked until data for all later phases has been changed to Approved.
• B. Data for a later phase cannot be changed from Not Started to Under Review until the status of earlier phases is changed to Approved.
• C. Data for a later phase can be promoted to a higher level in the promotion path than data for an earlier phase, but cannot be changed to Approved.
• D. Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase.

Answer: D

Explanation:
Explanation
The statement that is true about an approval process with the Phase Dependency option enabled is: Data for a later phase cannot be promoted to a higher level in the promotion path than data for an earlier phase. The Phase Dependency option is used to enforce sequential submission of data by different entities or groups of entities within an approval unit hierarchy. If this option is enabled, data for an earlier phase must be promoted to a higher level before data for a later phase can be promoted to the same level or higher. For example, if Phase 1 data is at level 2 and Phase 2 data is at level 1, Phase 2 data cannot be promoted to level 2 or higher until Phase 1 data is promoted to level 3 or higher. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 29; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 6-10.

NEW QUESTION # 31
You are required to create a form that allows users to input data. Which three actions are consistent with this?
(Choose three.)

• A. In the member selection for Entity, do not include shared entities; include only primary instances of entities.
• B. Set the currency on the form to Parent Currency.
• C. Set the consolidation member on the form to FCCS Entity Input.
• D. Grant the data input users Write access to the dimension members used on the form.
• E. Select level 0 dimension members for POV\ rows, and columns. www*'

Answer: C,D,E

Explanation:
Explanation
The three actions that are consistent with creating a form that allows users to input data are:
Set the consolidation member on the form to FCCS Entity Input. This is the member that represents the input data for each entity before consolidation.
Select level 0 dimension members for POV, rows, and columns. This ensures that the form displays the lowest level of detail for each dimension.
Grant the data input users Write access to the dimension members used on the form. This allows them to enter or modify data on the form.
The other options are not consistent with creating a form that allows users to input data. In the member selection for Entity, you can include shared entities if you want to allow data input for multiple instances of an entity. Setting the currency on the form to Parent Currency would display the data in the parent entity's currency, not the input currency. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Exam Study Guide, page 23; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-2.

NEW QUESTION # 32
Which statement is true if the Intercompany Data feature is not enabled when the Financial Consolidation and Close (FCC) business process is created?

• A. An extra custom dimension is available.
• B. The FCCS No Intercompany member of the ICP dimension is used for all data.
• C. Data can be stored by the intercompany partner but no eliminations occur.
• D. The ICP dimension is omitted.

Answer: D

Explanation:
Explanation
The Intercompany Data feature is an optional feature that enables intercompany eliminations and reporting in Financial Consolidation and Close (FCC). If this feature is not enabled when the FCC business process is created, the ICP dimension is omitted from the application. This means that data cannot be stored by the intercompany partner and no eliminations occur. The FCCS No Intercompany member of the ICP dimension is used for all data only if the feature is enabled but no intercompany transactions are entered. An extra custom dimension is not available regardless of whether the feature is enabled or not. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 18; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 2-10.

NEW QUESTION # 33
Which two statements are true about the Multi-GAAP feature? (Choose two.)

• A. Enabling Multi-GAAP reduces the number of custom dimensions you can have.
• B. Select this option if you need to report your financial statements only in IFRS.
• C. You must specify a prefix for entities that use the alternate gap standard.
• D. When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments.

Answer: A,D

Explanation:
Explanation
The two statements that are true about the Multi-GAAP feature are:
When you enable the Multi-GAAP feature, you can select manual adjustments or calculated adjustments. Manual adjustments allow you to enter or load data for different GAAPs separately, while calculated adjustments allow you to define formulas or rules to derive data for different GAAPs from a primary GAAP.
Enabling Multi-GAAP reduces the number of custom dimensions you can have. Multi-GAAP uses one custom dimension slot, so you will have one less custom dimension available for other purposes.
The other statements are false about the Multi-GAAP feature. You do not need to select this option if you need to report your financial statements only in IFRS; you can use IFRS as your primary GAAP without enabling Multi-GAAP. You do not need to specify a prefix for entities that use the alternate GAAP standard; you can use any member name for your alternate GAAP entity. : Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide, page 37; Oracle Financial Consolidation and Close Cloud Service User's Guide, page 3-10.

NEW QUESTION # 34
Which two statements about the Copy Data function are true? (Choose two.)

• A. When you select the Regular Data option, journals data is included.
• B. You can copy data for historical rate and amount overrides.
• C. You cannot select which Account members to copy.
• D. You can select which Consolidation dimension member to copy.

Answer: B,D

Explanation:
Explanation
The two statements about the Copy Data function that are true are:
You can select which Consolidation dimension member to copy. You can choose to copy data from any member of the Consolidation dimension, such as FCCS_Entity Input, FCCS_Proportion, or FCCS_Eliminations.
You can copy data for historical rate and amount overrides. You can select to copy data from or to the FCCS Historical Rate Override or FCCS Historical Amount Override accounts.
The other statements are false. When you select the Regular Data option, journals data is not included; you need to select the Journals option to copy journals data. You can select which Account members to copy; you can choose to copy all accounts or specific accounts. : [Oracle Financial Consolidation and Close
2023 Implementation Essentials Exam Study Guide], page 27; [Oracle Financial Consolidation and Close Cloud Service User's Guide], page 4-16.

NEW QUESTION # 35
Which two rate account options are available when configuring default translation methods for Flow and Balance accounts? (Choose two.)

• A. FX Rates - None
• B. FX Rates - Average
• C. FX Rates - Historical
• D. FX Rates - Ending
• E. FX Rates - Opening

Answer: B,D

Explanation:
Explanation
When configuring default translation methods for Flow and Balance accounts, two rate account options are available: FX Rates - Average and FX Rates - Ending. These rate account options determine which exchange rate is used to translate data from local currency to reporting currency. FX Rates - Average uses the average exchange rate for the period, which is suitable for flow accounts that capture movements within the period. FX Rates - Ending uses the ending exchange rate for the period, which is suitable for balance accounts that represent a point in time. The other rate account options, such as FX Rates - Historical, FX Rates - Opening, and FX Rates - None, are not available when configuring default translation methods for Flow and Balance accounts. References: Oracle Financial Consolidation and Close 2023 Implementation Essentials Study Guide, page 48; [Oracle Financial Consolidation and Close Cloud Service Administrator's Guide], page 5-2.

NEW QUESTION # 36
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