Oracle - Marvelous 1Z0-1054-26 - Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Exam Actual Tests

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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Objectives
Topic 1: Advanced Financials Features	- Allocations and automation 1. Automated accounting processes 2. Allocation rules - Intercompany accounting 1. Balancing and eliminations 2. Intercompany transactions
Topic 2: Journal Processing	- Journal creation and management 1. Manual journals 2. Recurring journals - Journal approvals and posting 1. Posting process and controls 2. Approval workflows
Topic 3: General Ledger Configuration	- Enterprise structure setup for Financials 1. Chart of Accounts design and setup 2. Ledger configuration - Accounting configuration 1. Accounting calendars 2. Currency setup and revaluation
Topic 4: Accounting and Close Processes	- Period close activities 1. Close monitoring and reconciliation 2. Subledger to GL reconciliation - Financial reporting 1. Account analysis and reporting 2. Financial Reporting Studio usage
Topic 5: Security and Integration	- Integration with subledgers 1. Data import and export processes 2. AP/AR integration with GL - Role-based access control 1. Financial roles and privileges

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q54-Q59):

NEW QUESTION # 54
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. Revenue Management
B. Order Management
C. Receipt accounting
D. Assets
E. Receivables

Answer: C,D,E

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 # 55
TheDelete Translated Balancesprocess provides the ability to completely reset translations in the event thatsignificant changesare made to the accounting configuration.
Once the deletion process completes, what additional process must you run?

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

Answer: D

NEW QUESTION # 56
You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?

A. Primary balancing segment rule
B. Chart of accounts rule
C. Ledger-level rule
D. Legal entity-level rule

Answer: B

Explanation:
You should define the default intercompany balancing rule at the legal entity level, because each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value. This way, you can specify the intercompany receivables and payables accounts for each legal entity and ensure that the journals are balanced by legal entity or primary balancing segment values. A ledger-level rule would apply to all legal entities in the ledger, which may not be appropriate if they have different intercompany accounts. A primary balancing segment rule would apply to all ledgers that share the same chart of accounts, which may not be desirable if they have different intercompany rules. A chart of accounts rule would apply to all ledgers and legal entities that use the same chart of accounts, which may not be feasible if they have different intercompany segments or accounts. References:
Intercompany Balancing Rules, Section: Define Intercompany Balancing Rules Overview of Intercompany Balancing Rules, Section: Define Intercompany Balancing Rules Troubleshooting Guide For Intercompany Balancing, Section: 1. Journals and subledger accounting entries are not being balanced for intercompany activity Implement General Ledger, Section: Intercompany Balancing

NEW QUESTION # 57
You are designing an approval rule where a specific person is required to approve the journal. Which two list builders should you use to achieve this?

A. Supervisory Hierarchy approval routing
B. Resource approval routing
C. Position Hierarchy approval routing
D. Approval Group approval routing
E. Job Level Hierarchy approval routing

Answer: B,D

NEW QUESTION # 58
What is the key function of currency translation?

A. Measuring current financial transactions that are denominated or stated in an accounting currency into the functional currency of the entity.
B. Creating unrealized gain or loss journals for foreign currency transactions.
C. Expressing the functional currency financial results of a subsidiary in the entity's reporting or consolidated currency.
D. Adjusting the accounted value of foreign currency-denominated balances according to current conversion rates.

Answer: C

NEW QUESTION # 59
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