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Oracle 1Z0-1054-26 Exam Syllabus Topics:

Section	Objectives
Topic 1: Financial Reporting	- Real-time reporting and analytics - Financial Statement Generator (FSG) and reporting tools
Topic 2: Journal Processing	- Journal import and automation - Journal creation and approval workflows - Recurring journals and allocations
Topic 3: General Ledger Configuration	- Chart of Accounts structure and segments - Ledger setup and accounting configuration - Accounting calendar and currency setup
Topic 4: Security and Controls	- Role-based access control in General Ledger - Audit and compliance controls
Topic 5: Period Close and Reconciliation	- Account reconciliation and balancing - Period close process in General Ledger

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Oracle Fusion Cloud Financials: General Ledger 2026 Implementation Professional Sample Questions (Q63-Q68):

NEW QUESTION # 63
Which two statements are true regarding the Translation process? (Choose two.)

A. The Translation process can only be used to translate balance sheet accounts.
B. Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account.
C. The Translation process can only be used for translating the balances of Secondary ledgers.
D. If necessary, before submitting the Translation process, the Revaluation process should be completed.
E. The Translation process should be run before posting Period Close adjustment entries.

Answer: B,D

Explanation:
According to Oracle documentation1, the following statements are true regarding the Translation process:
Any resulting offset from the translation is entered in the Cumulative Translation Adjustment account, and if necessary, before submitting the Translation process, the Revaluation process should be completed. The Translation process enables you to translate balances from one currency to another for reporting purposes.
The Translation process calculates any difference between the translated balance and the entered balance and posts it to the Cumulative Translation Adjustment account. The Revaluation process enables you to adjust balances denominated in foreign currencies to reflect current exchange rates. The Revaluation process should be completed before the Translation process to ensure that the balances are accurate. Therefore, options A and B are correct. Option C is incorrect because the Translation process should be run after posting Period Close adjustment entries. Option D is incorrect because the Translation process can be used for translating the balances of primary ledgers, secondary ledgers, and reporting currencies. Option E is incorrect because the Translation process can be used to translate both balance sheet accounts and income statement accounts.

NEW QUESTION # 64
Your customer has alarge number of legal entities. Thelegal entity valuesare defined in thecompany segment and the primary balancing segment.
They want to easily createeliminating entriesfor theintercompany activity.
What should you recommend?

A. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
B. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
C. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.
D. Define an intercompany segment in the chart of accounts. The Intercompany module and the Intercompany balancing feature in general ledger and subledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.

Answer: D

NEW QUESTION # 65
Your ledger currency is USD. At month end, you have a balance on the Accounts Payable Liability Account of 100,000 Euros, which is equivalent to 137,000 USD. This balance needs to be revalued. The month-end exchange rate for revaluation is 1 Euro = 1.25 USD.
What two statements are true about the resulting revaluation run?

A. The original journal entry in Euros is updated.
B. The original journal entry in Euros remains the same.
C. You have an unrealized exchange gain recorded.
D. You have an unrealized exchange loss recorded.

Answer: B,C

Explanation:
The original foreign currency journal is not changed by revaluation. Revaluation creates a separate revaluation journal to adjust the accounted ledger-currency value of foreign-currency-denominated balances. Here, the original USD equivalent is 137,000 USD, but the revalued amount is 100,000 EUR ×
1.25 = 125,000 USD. Because the liability balance decreases from 137,000 USD to 125,000 USD, the company records an unrealized exchange gain. A liability becoming smaller in ledger currency is favorable, so it is a gain, not a loss. The Euro transaction balance remains intact because revaluation adjusts the accounted value, not the original entered currency transaction. Oracle General Ledger revaluation uses generated journals to record unrealized gain or loss adjustments rather than rewriting the original journal.

NEW QUESTION # 66
You already ranTranslation, but a last-minuteadjusting journal entryin yourledger currencywas entered after you consolidated your results.
What does Oracle considerbest practicewhen this occurs?

A. Rerun Translation and then reconsolidate your results.
B. Rerun Revaluation and then rerun Translation.
C. Translate only the adjusting journal entry.
D. Enter another adjusting journal entry in the target currency to true up the balances.

Answer: A

NEW QUESTION # 67
Your organization would like to use the journal sequencing functionality in General Ledger. You want to include all journal sources but would like a different sequence assigned to journals originating in the Joint Venture application.
What should you create to achieve this?

A. A Validation Filter
B. An Exception
C. A Condition Filter
D. An Exclusion

Answer: C

NEW QUESTION # 68
......

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