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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. Intercompany transactions 2. Balancing and eliminations
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: Accounting and Close Processes	- Financial reporting 1. Financial Reporting Studio usage 2. Account analysis and reporting - Period close activities 1. Subledger to GL reconciliation 2. Close monitoring and reconciliation
Topic 4: General Ledger Configuration	- Enterprise structure setup for Financials 1. Ledger configuration 2. Chart of Accounts design and setup - Accounting configuration 1. Accounting calendars 2. Currency setup and revaluation
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 (Q140-Q145):

NEW QUESTION # 140
Which two are predefined roles in General Ledger?

A. General Accountant
B. General Accounting Clerk
C. General Accounting Supervisor
D. General Accounting Manager

Answer: A,D

NEW QUESTION # 141
Which two statements are true regarding the Intercompany Reconciliation Report? (Choose two.)

A. The report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
B. The report displays all clearing company balancing lines for a period.
C. The report displays the intercompany receivables and intercompany payables balances in summary for a period.
D. The report includes Ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
E. You can only drill down to the general ledger journal and then from there to the subledger journal entry.

Answer: A,D

Explanation:
According to the Oracle documentation12, the Intercompany Reconciliation Report can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison (option C). The report also includes ledger balancing lines generated when the primary balancing segment value is in balance, but either the second or third balancing segment values are not (option B).Option A is incorrect because you can drill down to the general ledger journal, subledger accounting entry, and source receivables or payables transaction2.Option D is incorrect because the report displays the intercompany receivables and intercompany payables balances in summary for a period, and any differences between them1.Option E is incorrect because the report does not display clearing company balancing lines2.

NEW QUESTION # 142
An Oracle Fusion Cloud customer has a complex enterprise structure that includes multiple legal entities in multiple countries. To match the intercompany balancing requirements, all four levels of rules have been defined. In user testing, the business experts are asking which rule will be considered first when balancing an intercompany journal?

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

Answer: D

Explanation:
When balancing an intercompany journal, Oracle Fusion Cloud will first look for a primary balancing segment rule that matches the provider and receiver primary balancing segment values. If such a rule exists, it will be used to generate the intercompany receivables and payables accounts. If not, Oracle Fusion Cloud will look for a chart of accounts rule, then a legal entity-level rule, and finally a ledger-level rule. The primary balancing segment rule has the highest priority and the ledger-level rule has the lowest priority.Reference:
Overview of Intercompany Balancing Rules
Intercompany Balancing Rules
Troubleshooting Guide For Intercompany Balancing
Example of Generating Intercompany Receivables and Intercompany Payables Accounts

NEW QUESTION # 143
Budgetary control for accounts 5020 and 5021 has a budget of $90,000 USD each for the year 2012. The accounts also have balances on obligation of $10,000 USD for each and an expenditure of $20,000 USD for each.
A Fund of $50,000 USD is available for account 5020 only. You have run the Encumbrance Year End Carry Forward process for obligation from the last period of the year 2012 to the first period of year 2013.
Which statement is true?

A. The Encumbrance Year End Carry Forward process will run for all the accounts to carry forward the general ledger balances.
B. If you have included 5020 and 5021 in the encumbrance rule, then only the obligation of $10,000 USD will be carried forward.
C. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD, and the funds available $50,000 USD will be carried forward.
D. If you have included 5020 and 5021 in the encumbrance rule, then budget balances $90,000 USD, obligation $10,000 USD, and expenditure $20,000 USD only will be carried forward.
E. If you have included 5020 and 5021 in the encumbrance rule, then obligation $10,000 USD and expenditure $20,000 USD only will be carried forward.

Answer: C

NEW QUESTION # 144
You are planning to use the Related Value Sets feature with your Chart of Accounts to create a dependency between the Company and Cost Center segments. For example, when using Company 101, the list of displayed cost centers should be in the range 100 to 199. When setting up your value sets, which validation type should you choose for the Cost Center segment?

A. Subset
B. Independent
C. Table
D. Dependent

Answer: B

Explanation:
Related Value Sets in Oracle Fusion Cloud are used to create a relationship between two value sets so that the valid values of one segment are restricted based on the value selected in a preceding segment.
The important correction here is that the value sets used in related value set configuration must be Independent value sets, not Dependent value sets. A Dependent validation type is a different value-set mechanism and is not the correct setup for Related Value Sets in the Chart of Accounts. Oracle documentation explains that related value sets define dependencies where the values shown for a succeeding segment are filtered by the selected predecessor value, and both value sets must be independent.

NEW QUESTION # 145
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