Oracle 1Z1-508 : 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: Sep 14, 2026

Q & A: 127 Questions and Answers

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Oracle 1Z1-508 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Period Close and Reconciliation15%- Period close process and monitor
- Trial balance and period-end adjustments
- Reconciliation with subledgers
- Opening and closing accounting periods
Topic 2: Integration and Security8%- Integration with Subledger Accounting
- Data access and security policies
- Accounting Hub and third-party integration
Topic 3: Multi-Currency and Intercompany Accounting15%- Intercompany transactions and reconciliation
- Currency configuration and daily rates
- Foreign currency transactions and revaluation
- Translation and consolidation processes
Topic 4: Journal Entries and Processing20%- Creating, importing, and posting journals
- Allocation and periodic entries
- Reversing, correcting, and reviewing journals
- Approval workflows and rules
Topic 5: Financial Reporting and Inquiry12%- Balances and transaction inquiry
- Account Monitor and Account Inspector
- Reporting tools and integration options
- Financial Reporting Center and OTBI
Topic 6: Chart of Accounts Configuration20%- Value sets, segments, and hierarchies
- Cross-validation and segment validation rules
- Account combinations and security rules
- Designing and defining chart of accounts structure
Topic 7: Overview of Oracle Fusion Financials and General Ledger10%- General Ledger role within the financial ecosystem
- Fusion Financials architecture and deployment options
- Key features and benefits of Fusion General Ledger

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Question #1

There is a performance issue with new account hierarchies. Which setting would you update to improve performance?

  • A. Parent Child Relationship
  • B. Row set
  • C. ADF Business component View Objects
  • D. Column set
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

What are the key performance metrics for Oracle Fusion Financials?

  • A. Requisitions. Vacancy Analysis, Recruitment Pipeline and Offer Analysis
  • B. Project Performance, Financial Management, Budget Details and Cost Details
  • C. Expenses, Revenue, Balance Sheet, Cash Flow, Budget versus Actual, Asset Usage, Liquidity, Financial Structure and GL Balance
  • D. Pipelinefunnel. Opportunity Details, Forecast and Actual versus Quota and Forecast versus Pipeline
  • E. Spend by Category, Spend by Supplier, Spend by Organization and Item Detail
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

Choose the four steps required to create and use the chart of accounts.

  • A. Create Chart of Accounts Structure.
  • B. Create Chart of Accounts Structure Instance.
  • C. Create Value Sets.
  • D. Create Account Hierarchies.
  • E. Publish Account Hierarchies.
  • F. Create Value Set Values.
Reveal Solution  Discussion  0

Correct Answer: A,C,D,F  🗳️

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Question #4

Invoices received from a source system need to use a specific account based on 30 different expense types. However, if the invoice is from a specific supplier type, it needs to go to a default account regardless of the account type. What is the solution?

  • A. Create two journal line rules with a condition of supplier type.
  • B. Create an Account Rule with 31 rule elements using one condition for each expense type; and another for supplier type.
  • C. Create an Account Rule with two rule elements using one for expense type mapping and the other for condition of supplier type.
  • D. Create an Account Rule with three rule elements using one for expense type mapping, one for condition of supplier type, and the other without any conditions.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

Identify the two steps that must be completed when performing Accounting Configuration

  • A. Create Legal Entities
  • B. Open First Period
  • C. Create Reporting Currencies
  • D. Create Primary Ledgers
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

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