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Which two statements are true about the Multi-GAAP feature? (Choose two.)
Correct Answer: A,D
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.
