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Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| General Ledger Setup | - Enterprise Structure Configuration
|
| Journal Processing | - Journal Creation and Posting
|
| Subledger Accounting | - Subledger to GL Integration
|
| Period Close Process | - Close Activities
|
| Reporting and Analysis | - Financial Reporting
|
Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
1. Your ledger currency is USD. At month end you have a balance on the Accounts Payable Liability Account of
100,000 Euros which is equivalent to USD 136,550. This balance needs to be revalued.
The month end exchange rate for revaluation is 1 Euro = 1.3755 USD.
What two statements are true for the resulting revaluation run? (Choose two.)
A) You have an unrealized exchange gain recorded.
B) You have an unrealized exchange loss recorded.
C) There is no unrealized exchange gain or loss calculated.
D) The original journal entry in Euros remains the same.
E) The original journal entry in Euros is updated.
2. Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
A) Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
B) In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
C) Each product has its own Intercompany Accounting feature that needs to be configured separately.
D) Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
3. You are using account hierarchies for reporting and allocations.
Which two statements are true about these types of hierarchies? (Choose two.)
A) You can have only one version of a hierarchy published to the Essbase cube at any time.
B) Child values in these hierarchies can belong to only one parent.
C) Hierarchies for reporting and allocations do not have to be published to Essbase cubes.
D) Hierarchies for reporting and allocations have to be published to Essbase cubes.
4. You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?
A) Chart of accounts rule
B) Primary balancing segment rule
C) Legal entity-level rule
D) Ledger-level rule
5. On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)
A) Revenue Management
B) Assets
C) Order Management
D) Receipt accounting
E) Receivables
Solutions:
| Question # 1 Answer: A,B | Question # 2 Answer: A,C | Question # 3 Answer: A,B | Question # 4 Answer: A | Question # 5 Answer: B,D,E |

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