Oracle 1Z1-508 : Oracle Fusion Financials 11g General Ledger Essentials

1Z1-508 real exams

Exam Code: 1Z1-508

Exam Name: Oracle Fusion Financials 11g General Ledger Essentials

Updated: Sep 02, 2026

Q & A: 127 Questions and Answers

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Oracle 1Z1-508 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Overview of Oracle Fusion Financials and General Ledger10%- Fusion Financials architecture and deployment options
- General Ledger role within the financial ecosystem
- Key features and benefits of Fusion General Ledger
Topic 2: Financial Reporting and Inquiry12%- Reporting tools and integration options
- Financial Reporting Center and OTBI
- Account Monitor and Account Inspector
- Balances and transaction inquiry
Topic 3: Multi-Currency and Intercompany Accounting15%- Foreign currency transactions and revaluation
- Currency configuration and daily rates
- Translation and consolidation processes
- Intercompany transactions and reconciliation
Topic 4: Chart of Accounts Configuration20%- Account combinations and security rules
- Cross-validation and segment validation rules
- Value sets, segments, and hierarchies
- Designing and defining chart of accounts structure
Topic 5: Integration and Security8%- Accounting Hub and third-party integration
- Data access and security policies
- Integration with Subledger Accounting
Topic 6: Journal Entries and Processing20%- Creating, importing, and posting journals
- Approval workflows and rules
- Reversing, correcting, and reviewing journals
- Allocation and periodic entries
Topic 7: Period Close and Reconciliation15%- Opening and closing accounting periods
- Period close process and monitor
- Reconciliation with subledgers
- Trial balance and period-end adjustments

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Question 1

Which method will reverse accruals in the next accounting period?

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


Question 2

Select the appropriate financial Reporting Center functionality that helps users to view, input, manipulate, distribute and share data from the General Ledger balances to Microsoft Excel.

A. Account Monitor and Account Inspector
B. Financial Reporting Workspace
C. Financial Reporting Studio
D. Smart View


Question 3

Identify two correct behaviors of conditional suppression of rows and columns.

A. If only some of the cells in a row or column meet the criteria specified for conditional suppression, the row or column is hidden.
B. The calculation does NOT consider suppressed rows.
C. When the Hide Always chock box is selected for a row or column, you can ignore the values and calculations in hidden rows and columns.
D. If an entire row or column meets the criteria specified for conditional suppression, the entire row or column is hidden.


Question 4

Identify two INVALID features of POV in Financial Reporting Studio.

A. A memberselection function with CurrentPOV as the member parameter changes to a User POV when members are selected from a row, column or page axis on a grid.
B. To identify that a dimension is set for grid POV, text row foot note should be added for a gridPOV for a dimension.
C. Multiple grids cannot be Included in a report.
D. All POVs allow a single member to be set for a dimension.
E. POV book is specific to any report or grid object in report in that book.


Question 5

Yon have entered a journal and your supervisor is asking for the current account balance and what the future account balance will be after the journal is approved and posted. How will you get this information?

A. View the Projected Balances Region on the Create Journal page
B. Run the Journals- (132 Char) Report.
C. View the Account Inquiry window
D. Run Trial Balance.


Solutions:

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

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