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Oracle 1Z1-508 Exam Syllabus Topics:

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. The company has four legal entities operating in US CA, US-NY, Canada and the UK. The chart of accounts and the accounting calendar are the same for US CA, US-NY and Canada but NOT for the UK.
How many ledgers are needed?

A) three
B) Two
C) Four
D) One

2. You have been given a task to update a calendar by adding a new period to it. What is the quickest way to perform this task?

A) Manually add the periods.
B) The application automatically populates the next period.
C) Run the Other - Calendar Validation Report.
D) Use the Add Year button.

3. When you use allocations, revaluation, or translation to define and maintain your period close component, which three tasks should you perform under the Define Period Close Components parent task in your implementation project?

A) Manage General Accounting Dashboard.
B) Manage intercompany Settlements.
C) Manage Allocations and Period Entries.
D) Manage Revaluations.
E) Manage Historical Rates.

4. In Oracle Fusion, you can define more complex structure and multiple rules between pairs of____________.

A) Legal Entities only
B) Primary Segments only
C) Ledgers only
D) Ledger, Legal Entities, or Primary Segments

5. Which method will reverse accruals in the next accounting period?

A) Create one entry and use Accrual Reversal GL Date.
B) Create one event and use the Accounting Reversal attribute.
C) Create one event and use the GL functionality to perform the reversal.
D) Create two events, one for accrual and another for the reversal.

Solutions: