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Guide for 1Z0-1054-26: Oracle Financials Cloud: General Ledger 2026 Implementation Professional

Quiz 1Z0-1054-26: Oracle Financials Cloud: General Ledger 2026 Implementation Professional

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/ 10

Quiz

1/10
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?
Select the answer
2 correct answers
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.

Quiz

2/10
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?
Select the answer
1 correct answer
A.
An Exception
B.
An Exclusion
C.
A Condition Filter
D.
A Validation Filter

Quiz

3/10
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?
Select the answer
2 correct answers
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

Quiz

4/10
What are The two advantages of having an intercompany segment in the Chart of Accounts?
Select the answer
2 correct answers
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

Quiz

5/10
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?
Select the answer
1 correct answer
A.
Ledger Rules
B.
Primary Segment Rules
C.
Chart of Accounts Rules
D.
Legal Entity Rules

Quiz

6/10
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?
Select the answer
2 correct answers
A.
Intercompany Customer Supplier Association
B.
Intercompany Transfer Authorization
C.
Transaction Account Definition
D.
Intercompany Agreement
E.
Intercompany Receivables Assignment

Quiz

7/10
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?
Select the answer
1 correct answer
A.
9
B.
2
C.
5
D.
3

Quiz

8/10
You are reviewing the Intercompany Reconciliation report for the current period and notice that


there is a difference for the period as indicated.

Certification Exam 1Z0-1054-26: Oracle Financials Cloud: General Ledger 2026 Implementation Professional Oracle Oracle-1Z0-1054-26 1-95041390

What could be reason for this difference?
Select the answer
1 correct answer
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.

Quiz

9/10
What is the key function of currency revaluation?
Select the answer
1 correct answer
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

Quiz

10/10
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?
Select the answer
1 correct answer
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.
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Info quiz:

  • Quiz name:1Z0-1054-26: Oracle Financials Cloud: General Ledger 2026 Implementation Professional
  • Total number of questions:123
  • Number of questions for the test:50
  • Pass score:80%

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