What is the Data Storage value for an account that should maintain a historical exchange rate?

Prepare for the Oracle FCC Certification Exam with flashcards and multiple choice questions. Each question includes hints and explanations. Ensure exam success!

For an account that should maintain a historical exchange rate, the appropriate Data Storage value is "Store." When an account is set to "Store," it ensures that historical data, such as exchange rates, is retained in the database. This is particularly important when dealing with financial reporting, as entities may need to report financial results in prior periods using the exchange rates that were in effect at that time.

Choosing "Store" allows the application to capture and preserve the exchange rate information for that specific account, ensuring accurate financial consolidation and reporting over time. It effectively supports the requirement for maintaining historical integrity in financial data.

The other options may indicate different behaviors regarding data processing and storage. For instance, "Dynamic" would not retain static historical values, while "Dynamic Calc and Store" allows for dynamic calculation but might not be suitable when static historical data is required, particularly for exchange rates. "No Rate" would imply the account does not apply any exchange rate, and "Never Share" implies data isolation amongst different entities, which is not applicable in this context.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy