Oracle 1Z1-508 Valid Dump : 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: Jul 17, 2026

Q & A: 127 Questions and Answers

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Oracle 1Z1-508 Exam Syllabus Topics:

SectionObjectives
Topic 1: Journal Processing- Journal Import and Posting
- Recurring Journals
- Manual Journal Entries
Topic 2: Reporting and Inquiry- Financial Reporting Center
- Financial Statements Generation
- Account Analysis and Inquiry Tools
Topic 3: General Ledger Overview- Oracle Fusion General Ledger Architecture
- Chart of Accounts Structure
- Ledger Concepts and Configuration
Topic 4: Period Close Process- Period Open and Close Activities
- Financial Close Workflow
- Reconciliations and Adjustments
Topic 5: Multi-Currency and Consolidation- Intercompany Accounting
- Financial Consolidation Concepts
- Currency Translation
Topic 6: Accounting Setup and Configuration- Accounting Calendar Setup
- Ledger and Currency Setup
- Subledger Accounting Configuration

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. A database connection can be changed when moving from a development environment server to a production environment server. Identify the reason for the error message "1012: Report contains an Invalid grid. The following dimensions could not be found: Measures."

A) Dimensions existed in the old database connection, but NOT in the new database connection
B) Dimensions do NOT match a specific report in the book
C) Opening or running the reports or books for an INVALID database connection
D) Dimensions in the changed database connections do NOT match the previous dimensions


2. What are NOT included in the intercompany reconciliation reports?

A) Intercompany receivables and intercompany lines generated by the intercompany balancing feature
B) Ledger balancing lines generated when the primary balancing segment value is in balance butneither the second balancing segment northird balancing segment is out of balance; clearing company balancing lines
C) Intercompany receivables and Intercompany payables lines generated for the provider and receiver of each intercompany transaction
D) Clearing company balancing lines


3. The Receivables and Payables accounts that are automatically generated by intercompany transactions use rules and attributes in what order?

A) Chart of Account Rules; Ledger Entity Level Rules, Primary Balancing Segment Rules; Ledger Level Rules
B) Ledger entity Level Rules; ledger Level Rules; Chart of Account Rules; Primary Balancing Segment Rules
C) Ledger Level Rules;Primary Balancing Segment Rules;Ledger Entity Level Rules; Chart of Accounts Rules
D) Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules;Chart of Account Rules
E) Chart of Account Rules; Primary Balancing Segment Rules; Ledger Entity Level Rules; Ledger Level Rules


4. Event classes are transaction types used to group____________.

A) Event Entities
B) Event Types
C) Journal Rule Sets
D) Event Models
E) Process Categories


5. Which is an INCORRECT Function for Fusion intercompany?

A) Intercompany enables you to have a more granular set of rules.
B) You do NOT have the functionality to define rules for specific Journal and category combinations for intercompany transaction types.
C) You can use a simple setup in which you define one rule for your chart of accounts.
D) The rule defined in intercompany canbe used for all intercompany balancing of all ledgers that use the same chart of accounts.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: D
Question # 3
Answer: D
Question # 4
Answer: B
Question # 5
Answer: B

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