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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions:

1. You already ran Translation, but a last-minute adjusting journal entry in your ledger currency was entered and posted after you consolidated your results.
What is Oracle ' s recommended practice when this occurs?

A) Rerun Translation and then reconsolidate your results.
B) Enter another adjusting journal entry in the target currency to true up the balances.
C) Rerun Revaluation and then rerun Translation.
D) Translate only the adjusting journal entry.

2. Manage Chart of Accounts Structure and Instance
Scenario
Your client is implementing Oracle Fusion Cloud Financials. The decision is to have a 5-segment Chart of Accounts: Company, Cost Center, Account, Product, and Intercompany. You are working in the General Ledger team and will be responsible for creating the Chart of Accounts Structure and Instance for the Chart of Accounts.
Task 1
Create a Chart of Accounts Structure and Instance for the following Chart of Accounts:

Note:
Prefix all your setups with 07, where 07 is your candidate ID
There is one balancing segment.
Choose the appropriate segment labels.
. For the purpose of this test there is no need to deploy the flexfield.
. Valid code combinations should be added to the Code Combination table automatically.
Shorthand aliases will not be implemented.
. Accept the defaults for the instance segments.

3. When working with Essbase, versions of the tree hierarchy as defined in the Fusion are not available in the Essbase balances cube. What should you do to correct this situation?

A) Make sure the tree is active.
B) Make sure to flatten the rows of the tree version.
C) Make sure the tree version was published successfully.
D) Redeploy the chart of accounts.

4. Which two statements are true if a journal description rule is defined with sources?

A) The description rule may be assigned to either the header or line level, or to both.
B) The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.
C) You cannot assign journal description rules to sources.
D) The description rule can only be assigned to the journal line level.
E) The description rule can only be assigned to the header or line level.

5. Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

A) The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
B) If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD only will be carried forward.
C) If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
D) If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.
E) If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.

Solutions: