Option 1: Incorrect. The data management API is primarily used for data loading and management, not extraction for analysis and reporting in external systems. Option 2: Correct. The Data Management API is used to create and manage data loads from source systems into Oracle PCM. Option 3: Incorrect. Calculations and allocations are not the primary function of the Data Management API. The API is primarily used for data loading and management. Option 4: Incorrect. The Data Management API is not used to import metadata and dimension mappings into PCM. It is primarily used for data loading and management.

Option 1: The correct option is 'Hierarchy'. When creating an application, selecting the 'Hierarchy' option enables the dimension privilege hierarchy. This allows for the creation of hierarchical relationships between dimension members, enabling more complex analysis and reporting capabilities. Option 2: The option 'Consolidation' is incorrect. Selecting this option does not enable dimension privilege hierarchy. It is used for defining consolidation methods and rules within the application. Option 3: The option 'Alternate' is incorrect. Selecting this option does not enable dimension privilege hierarchy. It is used for defining alternate hierarchies within the application. Option 4: The option 'None of the above' is incorrect. Selecting this option does not enable dimension privilege hierarchy. It is not a valid option for enabling dimension privilege hierarchy.

Option 1: Although it is true that loaded data is not altered by allocation definitions themselves, running an allocation based on those definitions certainly can change the data. Answer This is therefore incorrect. Option 2: Answer This is correct. Allocations can update previously loaded data or adjust it based on allocation rules. This is the entire purpose of running an allocation. Option 3: Answer This is incorrect. Running an allocation does not delete previously loaded data. Option 4: Answer This is incorrect. Allocations can impact all data regardless of when it was loaded.

Option 1: This option is correct because the main function of the Oracle Profitability and Cost Management Cloud Service is to provide real-time costing and profitability analysis to support business decisions. Option 2: This option is incorrect because the Oracle Profitability and Cost Management Cloud Service is not primarily focused on accounting or reporting. Option 3: This option is incorrect because the Oracle Profitability and Cost Management Cloud Service is not a storage solution, but rather an analysis tool. Option 4: This option is incorrect because while the Oracle Profitability and Cost Management Cloud Service can help with budgeting and planning, it is not its main function.

Option 1: Correct answer. Designing the application with a flat structure and using calculations and hierarchies to handle complex logic is a best practice in PCM implementation. This allows for flexibility and ease of maintenance. Option 2: Incorrect answer. Designing the application with a highly normalized structure can cause complexity and difficulty in maintaining the application. It is not a best practice in PCM implementation. Option 3: Incorrect answer. Designing the application with a denormalized structure may improve performance, but it can also lead to data redundancy and inconsistency. It is not a best practice in PCM implementation. Option 4: Incorrect answer. Designing the application with multiple separate applications increases complexity and can result in difficulties in consolidating data and generating accurate reports. It is not a best practice in PCM implementation.