Which statement is FALSE about Summary reconciliations?
Click on the arrows to vote for the correct answer
A. B. C. D.A.
https://docs.oracle.com/en/cloud/saas/account-reconcile-cloud/adarc/GUID-3B2518AE-A5E5-44CD-A032-5CB119F087FE.pdfSummary reconciliations are a feature in Oracle Account Reconciliation Cloud Service (ARCS) that allow users to group together multiple reconciliations for reporting and analysis purposes. The reconciliations that are included as children in a summary reconciliation are typically related in some way, such as being different accounts within the same department.
Based on the information provided, the false statement about summary reconciliations is:
D. The Unexplained Difference on the Balance Summary tab shows the total unexplained difference for all the child reconciliations.
Explanation:
When creating a summary reconciliation in ARCS, the Unexplained Difference on the Balance Summary tab shows the difference between the total reconciled balance and the total balance of all the child reconciliations that are included in the summary. This value does not represent the total unexplained difference for all the child reconciliations. Instead, it shows the difference between the total balance of the child reconciliations and the amount that has been reconciled across all of the child reconciliations. In other words, the Unexplained Difference on the Balance Summary tab indicates the degree of completeness of the reconciliations that are included as children in the summary, rather than the total amount of unexplained difference across all of those reconciliations.
To summarize, option D is the false statement about summary reconciliations, as the Unexplained Difference on the Balance Summary tab does not show the total unexplained difference for all the child reconciliations, but rather represents the degree of completeness of the reconciliations included in the summary.