Oracle 1Z0-1054-21 Q&A - in .pdf

  • 1Z0-1054-21 pdf
  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Updated: Jul 25, 2026
  • Q & A: 136 Questions and Answers
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  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
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  • Updated: Jul 25, 2026
  • Q & A: 136 Questions and Answers
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  • Exam Code: 1Z0-1054-21
  • Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
  • Updated: Jul 25, 2026
  • Q & A: 136 Questions and Answers
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1Z0-1054-21 Practice Dumps

Oracle 1Z0-1054-21 Exam Syllabus Topics:

SectionObjectives
Topic 1: Subledger Accounting- Event processing
  • 1. Accounting events
    - Accounting rules
    • 1. Journal line rules
      • 2. Account derivation rules
        Topic 2: Enterprise Structures and Setup- Ledger configuration
        • 1. Primary ledger setup
          • 2. Secondary ledgers
            - Chart of Accounts
            • 1. COA structure design
              • 2. Value sets and segments
                Topic 3: Security and Configuration- Implementation setup tasks
                • 1. Setup Financials Cloud
                  - Roles and access
                  • 1. Security setup
                    Topic 4: Period Close Process- Financial reporting
                    • 1. Trial balance and reports
                      - Close activities
                      • 1. Adjustments and accruals
                        • 2. Reconciliations
                          Topic 5: Journal Processing- Journal imports
                          • 1. File-based data import (FBDI)
                            • 2. Spreadsheet uploads
                              - Manual journals
                              • 1. Recurring journals
                                • 2. Journal creation and approval

                                  Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:

                                  1. Your customer is planning to have three balancing segments for generating balance sheets and income statements at cost center segment and program segment level Which two recommendations would you give your customer?

                                  A) Additional intercompany balancing and clearing options will need to be defined. Z
                                  B) When entering journals manually, the customer will need to make sure that debits and credits
                                  C) Additional intercompany rules will need to be defined for the two additional balancing segment
                                  D) Every journal where debits do not equal credits across the three balancing segments will need


                                  2. Your enterprise structure has one ledger and two business units. Business unit one wants to enable budgetary control for Requisitioning only on Procure-to-Pay Business Functions and business unit two wants to enable budgetary control for Payable Invoicing only in Procure-to-Pay Business Functions.
                                  Which two statements are correct? (Choose two.)

                                  A) While defining control for business unit one, enable control at purchasing and define the exceptions to only include requisitioning
                                  B) Define budgetary control at ledger level with Budgetary Control Exceptions for each business unit
                                  C) Define budgetary control at ledger level and only encumbrance control at the business units
                                  D) While defining control for business unit two, enable control at Requisitioning and define the exceptions to only include invoicing
                                  E) Define control for business unit two to disable control for Requisitioning, Purchasing, and Receiving
                                  F) While defining control for business unit one, disable control for Purchasing, Payable Invoicing, and Receiving


                                  3. Your customer is implementing budgetary control with encumbrance accounting. Your customer has businesses is Australia, New Zealand, and Singapore with a ledger in each country with a Corporate Chart of Account instance that has four segments. Which three statements are true regarding the creation of a control budget?

                                  A) The control Budget structure has all the chart of accounts segments as budget segments.
                                  B) A control budget is associated to a ledger and creates three control budgets for Australia, New Zealand and Singapore.
                                  C) A Control Budget can allow override rules only if the control level is absolute.
                                  D) Control Budget are always absolute to generate encumbrance accounting.
                                  E) A Control Budget Can be associated with a different calendar than accounting calendar.


                                  4. Your customer has enabled budgetary control for purchase orders. They have a purchase order for
                                  $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing. What happens to the remaining $400 USD?

                                  A) $400 USD will be expired and not available for use
                                  B) $400 USD will be added back to available funds
                                  C) Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of$400 USD
                                  D) Only obligation type will have $400 USD funds available
                                  E) Invoice type will have less funds available by $400 USD


                                  5. You need to define a chart of accounts that includes an intercompany segment. Your customer plans to use segment value security rules for the Company segment. What does Oracle's recommended method to define this chart or accounts?

                                  A) Use two different value sets for the company and intercompany segment because segment value security rules are at the value set level.
                                  B) Share the same value set for the company and intercompany segments to reduce chart of accounts maintenance.
                                  C) Define the company segment only and qualify it as both the primary balancing segment andintercompany segment.
                                  D) Define two different charts of accounts.


                                  Solutions:

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

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