1Z0-1054-21 dumps materials - exam dumps for 1Z0-1054-21: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Oracle Financials Cloud: General Ledger 2021 Implementation Essentials - 1Z0-1054-21 certification

Exam Code: 1Z0-1054-21

Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials

Updated: Jul 26, 2026

Q & A: 136 Questions and Answers

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Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Journal Processing- Manual journals
  • 1. Recurring journals
    • 2. Journal creation and approval
      - Journal imports
      • 1. File-based data import (FBDI)
        • 2. Spreadsheet uploads
          Security and Configuration- Roles and access
          • 1. Security setup
            - Implementation setup tasks
            • 1. Setup Financials Cloud
              Enterprise Structures and Setup- Ledger configuration
              • 1. Secondary ledgers
                • 2. Primary ledger setup
                  - Chart of Accounts
                  • 1. Value sets and segments
                    • 2. COA structure design
                      Period Close Process- Financial reporting
                      • 1. Trial balance and reports
                        - Close activities
                        • 1. Adjustments and accruals
                          • 2. Reconciliations
                            Subledger Accounting- Accounting rules
                            • 1. Journal line rules
                              • 2. Account derivation rules
                                - Event processing
                                • 1. Accounting events

                                  Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

                                  1. The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India). a Which three labels are required when designing the chart of account structure for the Project.

                                  A) Intercompany Segment -
                                  B) Cost center
                                  C) Natural Account _
                                  D) Secondary Balancing
                                  E) Primary Balancing


                                  2. The general accountant Is trying to update the cost center for the Default Suspense Account in the Ledger Options to match the cost center for the Rounding Account.
                                  The rounding account is showing as 01-110-7699-00; however, 110 is not appearing in the list of account for the accountant to select in the Suspense Account.
                                  What Is the reason for this?

                                  A) There Is a primary balancing segment attached to the legal entity of the primary ledger.
                                  B) The general accountant has a segment value security rule assigned which restricts access to the cost center.
                                  C) A cross validation rule is in place to prevent the resulting combination from being created.
                                  D) The general accountant does not have the Financials Application administrator role assigned therefore, has view-only privileges on this page. -


                                  3. The Create Accounting program could not determine the debit side of the journal entry Which component of Subledger Accounting determines the debit or credit side of a journal entry?

                                  A) Journal Accounting Rule
                                  B) Journal Balances Rule
                                  C) Journal Line Rule
                                  D) Account Rule
                                  E) Journal Entry Rule


                                  4. What Is Oracle Essbase?

                                  A) A data ware house
                                  B) A multidimensional Online Analytical Processing (OLAP) server that is embedded in Fusion GeneralLedger
                                  C) A relational database
                                  D) A robust reporting and analysis tool


                                  5. What are the two possible reasons for encumbrance created on the purchase order to go back to the budget or funds availibility? (Coose two)

                                  A) The Purchase order is canceled or finally closed or rejected without performaing any receipt or invoice
                                  B) When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
                                  C) The requisition reserved successfully undergoes amendment and is rejected in the reapproval
                                  D) When the purhcase order is set to accrue at receipt and partially received, then canceled or finally closed, encumbrance goes back to the budget to the extent of the unreceived amount.


                                  Solutions:

                                  Question # 1
                                  Answer: B,C,E
                                  Question # 2
                                  Answer: B
                                  Question # 3
                                  Answer: C
                                  Question # 4
                                  Answer: D
                                  Question # 5
                                  Answer: A,D

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