Oracle 1Z0-1054 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 1Z0-1054
Exam Name/Title: Oracle Financials Cloud: General Ledger 2019 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud

Exam Questions: 78
Updated On: Sep 27, 2026

Question #9

While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created. Which two options explain that? (Choose two.)

A. The Account Rule's conditions are not defined

B. The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set

C. The Account Rule's chart of accounts has no account values assigned

D. The Account Rule is defined with a different chart of accounts form the Journal Entry Rule Set

Discussion 0

Correct Answer: B,D Vote an answer

Question #10

Your new accountants have been making mistakes in reconciling accounts assigned to them. Your account balances have either spiked or dropped 30-40% every period due to human error. This causes delays in reconciliation. What feature can you use to be proactively notified of account anomalies in a more timely manner?

A. Account Monitor

B. Smart View

C. Financial Reports with Embedded charts

D. Account Inspector and its charts

Discussion 0

Correct Answer: B Vote an answer

Question #11

You entered a journal and the client is asking for the following information:
* The current account balance
* What the future account balance will be if the journal is approved and posted How will you get this information?

A. View the Projected Balances region in the Create Journals page

B. Use Oracle Transactional Business Intelligence (OTBI) to query General Ledger balances

C. Query the account balance online

D. Run a Trial Balance before and after posting

Discussion 0

Correct Answer: A Vote an answer

Question #12

Identify three differences between Oracle Transactional Business Intelligence (OTBI) and Oracle Business Intelligence Applications (OBIA). (Choose three.)

A. Cloud customers can use both OTBI and OBIA

B. OBIA works for multiple sources including E-Business Suite, PeopleSoft, JD Edwards, SAP, and Cloud Applications

C. OTBI allows you to create custom reports from real-time transactional data against the database directly

D. Both OBIA and OTBI provide a set of predefined reports and dashboards and a library of metrics that help to measure business performance.

E. OBIA is based on the universal data warehouse design with different prebuilt adapters that can connect to various source applications.

Discussion 0

Correct Answer: B,C,E Vote an answer

Question #13

All of your subsidiaries reside on the same application instance, but some of them require a different chart of accounts and/or accounting calendar and currency. There is no minority interest or partial ownerships. What is Oracle's recommended approach to performing consolidations?

A. Translate balances to the corporate currency for ledgers not in the corporate currency, use General Ledger's Financial Reporting functionality to produce consolidated reports by balancing segment where each report represents a different subsidiary.

B. Translate balances to the corporate currency, create a chart of accounts mapping to the corporate chart of accounts, then transfer balances to the corporate consolidation ledger using the balance transfer program

C. Use Oracle Hyperion Financial Management for this type of complex consolidation.

D. Create separate ledgers for each subsidiary that shares the same chart of accounts, calendar, currency, and accounting method. Create a separate elimination ledger to enter intercompany eliminations. Then creates a ledger set across all ledgers and report on the ledger set.

Discussion 0

Correct Answer: B Vote an answer

Question #14

Before implementing Financials Cloud, your customer used to manually reconcile their intercompany payables and receivables accounts. What is a more automated approach to do this?

A. In Financials Cloud, you must manually reconcile your intercompany account balances

B. Use Oracle Hyperion Close Manager to automatically reconcile intercompany account balances

C. Run the Intercompany Reconciliation report, which shows pairs of intercompany receivables and payables accounts that are out of balance

D. Create a query using Oracle Transactional Business Intelligence (OTBI) that will match the intercompany payables and receivables balances

E. Run the BI Publisher reports called Intercompany Transaction Summary and Account Details to automatically reconcile intercompany balances

Discussion 0

Correct Answer: C Vote an answer

Question #15

The Delete Translated Balances process provides the ability to completely reset translations in the event that significant changes are made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

A. Submit the Update General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

B. Submit the Create Scenario Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

C. Submit the Create General Ledger Balances Cube process to ensure that the balances cube maintains translated balances that are consistent with future translations.

D. Submit the Create Currency Dimension Members process to ensure that the balances cube maintains translated balances that are consistent with future translations.

Discussion 0

Correct Answer: C Vote an answer

Question #16

You want to define an allocation rule where segment values are constants for rules and formulas. What should you do?

A. Never use the Outer Point of View (POV)

B. Always use the Outer Point of View (POV)

C. Specify Run Time Prompts (RTP)

D. Only specify segment values in formulas

Discussion 0

Correct Answer: C Vote an answer

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