oracle 1z0-1054-25 practice test

Oracle Fusion Cloud Financials: General Ledger 2025 Implementation Professional

Last exam update: Nov 18 ,2025
Page 1 out of 9. Viewing questions 1-15 out of 123

Question 1

The Journal Import process pulls information from the GL Interface table to create valid, postable
journal entries in General Ledger.
Which two statements are true about the Journal Import process?

  • A. The process validates all your data before it creates journal entries in General Ledger.
  • B. Any error transactions from Oracle Subledgers can be easily deleted and resubmitted.
  • C. You can only validate and select to transfer journal data in the Summary mode.
  • D. FBDI can be used to upload journal entry data from external sources into General Ledger.
Mark Question:
Answer:

A, D


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Question 2

Your organization would like to use the journal sequencing functionality in General Ledger. You want
to include all journal sources but would like a different sequence assigned to journals originating in
the Joint Venture application.
What should you create to achieve this?

  • A. An Exception
  • B. An Exclusion
  • C. A Condition Filter
  • D. A Validation Filter
Mark Question:
Answer:

C


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Question 3

You are designing an approval rule where a specific person is required to approve the journal. Which
two list builders should you use to achieve this?

  • A. Supervisory Hierarchy approval routing
  • B. Approval Group approval routing
  • C. Resource approval routing
  • D. Job Level Hierarchy approval routing
  • E. Position Hierarchy approval routing
Mark Question:
Answer:

B, C


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Question 4

What are The two advantages of having an intercompany segment in the Chart of Accounts?

  • A. Identifies partners in each intercompany line through balancing, by populating the intercompany segment with the trading partner.
  • B. Assists reconciliation through balancing, by populating the intercompany payable and intercompany receivable accounts.
  • C. Assists reconciling intercompany transactions and helps identify elimination entries.
  • D. Enables balancing of many to-many primary balancing segment value journals and many to many legal entity journals
Mark Question:
Answer:

A, C


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Question 5

Your organization has implemented a global Chart of Accounts, which is used by all ledgers. It has the
following segments: Company, Department, Account, Intercompany and
Future.
Your business practice allows for one intercompany receivable natural account and one
intercompany payable natural account.
What is the minimum level for configuring intercompany balancing rules?

  • A. Ledger Rules
  • B. Primary Segment Rules
  • C. Chart of Accounts Rules
  • D. Legal Entity Rules
Mark Question:
Answer:

C


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Question 6

Your organization has frequent fund transfers between entities to meet working capital requirements
and address internal financing needs. You decide to use the Multitier Intercompany functionality to
address those needs.
Which two components of Multitier Intercompany need to be created to generate an intercompany
transaction for General Ledger?

  • A. Intercompany Customer Supplier Association
  • B. Intercompany Transfer Authorization
  • C. Transaction Account Definition
  • D. Intercompany Agreement
  • E. Intercompany Receivables Assignment
Mark Question:
Answer:

B, D


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Question 7

You are creating a Multitier Intercompany agreement and haven chosen to use a clearing
organization in Financial Route.
How many clearing organizations can be involved in Financial Route?

  • A. 9
  • B. 2
  • C. 5
  • D. 3
Mark Question:
Answer:

B


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Question 8

You are reviewing the Intercompany Reconciliation report for the current period and notice that
there is a difference for the period as indicated.

What could be reason for this difference?

  • A. The transaction needs to be transferred to Payables and accounted in the UK ledger.
  • B. The transaction needs to be transferred to Payables and accounted in the US ledger.
  • C. The transaction needs to be transferred to Receivables and accounted in the UK ledger.
  • D. The transaction needs to be transferred to Receivables and accounted in the US ledger.
Mark Question:
Answer:

A


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Question 9

What is the key function of currency revaluation?

  • A. Converting the accounted balances from one currency to another target currency
  • B. Adjusting the accounted value of foreign currency denominated balances according to current conversion rates
  • C. Measuring the current financial transactions that are denominated or stated in an accounting (local) currency into the functional currency of the entity
Mark Question:
Answer:

B


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Question 10

You are setting up Close Monitor for your organization. What is the key consideration when selecting
the ledgers or ledger sets that form part of the Close Monitor hierarchy?

  • A. The members of the Close Monitor hierarchy must share a common Chart of Accounts and calendar.
  • B. The members of the Close Monitor hierarchy must all be primary ledgers or secondary ledgers.
  • C. The members of the Close Monitor hierarchy must all share the same accounting convention.
Mark Question:
Answer:

A


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Question 11

You have a requirement to override the Period End or Period Average rate that is used for translating
several accounts at month end. How can you achieve this?

  • A. Use the Manage Revaluations task to create a revaluation definition for those accounts.
  • B. Use the Manage Historical Rates task to assign a historical rate or amount to those accounts.
  • C. Use the Translate Balances process parameters to specify the rate or amount for those accounts.
Mark Question:
Answer:

B


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Question 12

Which Two predefined job roles automatically have the assigned privileges to access Financial
Reporting Center?

  • A. Account Receivables Manager
  • B. Payables Supervisor
  • C. General Accounting Manager
  • D. Budget Manager
  • E. Intercompany Manager
Mark Question:
Answer:

C, D


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Question 13

Financial Reporting Web Studio is a powerful tool within the Oracle Fusion Cloud suite, designed to
empower financial professionals with advanced reporting capabilities.
Which two are key capabilities of Financial Reporting Web Studio?

  • A. It can be used to create financial statements.
  • B. It uses a drag and drop interface for report design.
  • C. It helps group reports or books into batches for processing or scheduling.
  • D. It provides Batch Bursting options including e-mail and print.
Mark Question:
Answer:

A, B


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Question 14

What is the key functionality of Smart View in Oracle Cloud Financial Reporting?

  • A. It is an Excel based add in that integrates with Oracle Essbase GL data for performing financial analysis and reporting.
  • B. It is a data visualization tool that offers a library of interactive charts and graphs for financial analysis.
  • C. It is a mobile application for accessing real-time financial dashboards on smartphones and tablets.
Mark Question:
Answer:

A


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Question 15

Which Two are key capabilities of Account Groups within the General Accounting Dashboard?

  • A. Monitor key accounts automatically in real time on an exception or permanent basis.
  • B. Create Reports, Books, Snapshot Reports, Snapshot Books, and Financial Reporting Batches.
  • C. Analyze change percentages based on defined rules and thresholds to assess whether balance variances are favorable or unfavorable.
  • D. Schedule reports to run automatically at selected intervals and to various destinations, such as printer or email.
Mark Question:
Answer:

A, C


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