2026 Exam 1Z0-1054-26 Assessment | Newest Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional 100% Free Exam Topics

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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Weight	Objectives
Implementing Ledgers	15%	- Ledger configuration
Implementing and Managing Journals	20%	- Key features and capabilities of journal processing - Journal configuration
Implementing Enterprise and Financial Reporting Structures	15%	- Configuration of Financial Reporting Structures - Key features and capabilities of Enterprise and Financial Reporting Structures 1. Chart of Accounts design
Processing Intercompany	15%	- Intercompany transaction processing and reconciliation - Intercompany transaction configuration
Leveraging AI/ML/Mobile and Automation Features	3%	- Use AI/ML/mobile and automation features for process efficiency
Performing Period Close	15%	- Period Close configuration - Period Close process overview
Enabling Redwood Capabilities	2%	- Enable Redwood capabilities and understand configuration impacts
Configuring Financial Reports	15%	- Financial reporting options - Financial report and analysis creation 1. General Accounting infolets

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100% Pass 2026 Reliable 1Z0-1054-26: Exam Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Assessment

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q44-Q49):

NEW QUESTION # 44
On a primary ledger in the system options close section, the following field has been selected 'Prevent General Ledger Period Closure When Open Subledger Periods Exist'.
For which three subledgers can you opt out of the period close checking feature by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE? (Choose three.)

A. Order Management
B. Receivables
C. Assets
D. Receipt accounting
E. Revenue Management

Answer: B,C,D

Explanation:
According to Oracle documentation3, you can opt out of the period close checking feature for these three subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE: Receipt accounting, Receivables, and Assets. The period close checking feature prevents you from closing a General Ledger period if there are any open subledger periods that exist for that ledger. You can opt out of this feature for specific subledgers by using the lookup ORA_GL_INCLD_STRICT_PRD_CLOSE and setting the Enabled flag to No for those subledgers. Therefore, options A, B, and D are correct. Option C is incorrect because Revenue Management is not a subledger that can be opted out of the period close checking feature. Option E is incorrect because Order Management is not a subledger that can be opted out of the period close checking feature.

NEW QUESTION # 45
The current implementation project covers Financials (with Fixed Assets and Expenses) with operations planned in three countries (USA, Italy, and India).
Which three labels are required when designing the chart of account structure for this project? (Choose three.)

A. Primary Balancing
B. Cost center
C. Natural Account
D. Secondary Balancing
E. Intercompany Segment

Answer: A,B,C

Explanation:
The three labels that are required when designing the chart of account structure for this project are Primary Balancing, Cost center, and Natural Account. A chart of account structure is composed of segments that represent different dimensions of accounting information, such as company, department, account, or project.
Each segment has a label that indicates its function or purpose within the chart of accounts. The Primary Balancing label is required for the segment that identifies the legal entity or business unit for which financial statements are prepared and balanced. The Cost center label is required for the segment that identifies the organizational unit or function that incurs expenses or generates revenues. The Natural Account label is required for the segment that identifies the nature of an account, such as asset, liability, revenue, or expense.
The Intercompany Segment label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies intercompany transactions between different legal entities or business units within the same enterprise. The Secondary Balancing label is not required when designing the chart of account structure for this project, as this is an optional label for the segment that identifies an additional balancing dimension other than the primary balancing segment, such as fund or region. Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Chart of Accounts 12

NEW QUESTION # 46
What are thetwo possible reasonsforencumbrance created on the purchase orderto go back to thebudget or funds availability?

A. The requisition reserved successfully undergoes amendment and is rejected in the reapproval.
B. When the requisition is set to accrue at period end and partially billed and then canceled or finally closed, encumbrance goes back to the budget to the extent of the unbilled amount.
C. When the purchase 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.
D. The purchase order is canceled or finally closed or rejected without performing any receipt or invoice.

Answer: C,D

NEW QUESTION # 47
You are creating values for thechart of account value setthat you are planning to use for theaccount segmentwithin yourChart of Accounts. You are not able to assign anAccount Type.
What is the reason for this?

A. You are creating values before assigning the value set to the structure.
B. You have not set the Allow Posting attribute for the value set.
C. The Account Type qualifier has not been enabled when defining the value set.
D. You have not set the Allow Budgeting attribute for the value set.

Answer: C

NEW QUESTION # 48
You have enabled budgetary control and have a control budget set toAdvisorycontrol level. For September
2016, your budget for a given account combination is$5,000 USD.
In the same month, there is anapproved requisitionfor that account of$900and anapproved purchase orderfor that account of$2,500 USD. There is also aGeneral Ledger adjustment journal entryfor that account of$1,600 USD. Anapproved purchase order line of $400 USDis thencanceled.
Aninvoice is matchedto the purchase order for$2,100 USD.
Which two statements are true? (Choose two.)

A. The system always consumes the budget of future periods if the limit for the current period is expired, so October 2016 budget will be considered for reservation.
B. Funds reservation only happens for non-matched invoices, so the system will not reserve funds.
C. As there are cancellations for $400 USD, the system will partially reserve the funds in September 2016 and fully reserve it in October 2016.
D. Purchase order encumbrance will be released for $2,100 USD.

Answer: C,D

NEW QUESTION # 49
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