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Instant Download Oracle : 1Z0-1054-21 Questions & Answers as PDF & Test Engine
- Exam Code: 1Z0-1054-21
- Exam Name: Oracle Financials Cloud: General Ledger 2021 Implementation Essentials
- Updated: Sep 07, 2026
- No. of Questions: 136 Questions and Answers
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Oracle 1Z0-1054-21 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Period Close Process | - Close activities
|
| Enterprise Structures and Setup | - Chart of Accounts
|
| Security and Configuration | - Roles and access
|
| Journal Processing | - Journal imports
|
| Subledger Accounting | - Event processing
|
Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
Your ledger currency is USD. At month end you have a balance on the Accounts Payable Line of 100,000 Euros which is equivalent to USD 136,550 The month end exchange rate Is 1 Euro = 1.3755 USD What two statements are true for the resulting revaluation run?
- A. The original journal entry in Euros is Updated,
- B. There is no unrealized exchange gain or loss calculated
- C. The original Journal entry in Euros remains the same.
- D. You have an unrealized exchange loss recorded.
- E. You have an unrealized exchange gain recorded.
Explanation: Only visible for Lead2Passed members. You can sign-up / login (it's free).
Fusion Accounting Hub includes Hyperion Data Management. For which two tasks can Hyperion Data Management be used?
- A. data access and security
- B. chart of accounts master data maintenance
- C. integration with transactions from external feeder systems
- D. chart of accounts hierarchy maintenance
- E. cross-validation rules
There is a business requirement for a subsidiary company to report to the parent company basis.
Given that:
The subsidiary is in another country from the parent.
There is no requirement to have daily balances.
The objective is to minimize the data stored in the reporting currency.
Which data conversion level should you recommend?
- A. Adjustment only level
- B. Journal Level
- C. Balances Level
- D. Spreadsheet level
- E. Subledger level
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Your company has a legal entity in the UK, US, and Canada. They can all share the chart of Accounts but are required to transact and report In their local currency. :
What Is the minimum number of ledgers you need and why?
- A. Three, because each requires a different currency.
- B. Two, because the US and Canada can share the same ledger because they are in north America
- C. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
- D. One, because they can all share the same chart of accounts.
You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)
- A. Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
- B. Use the Rapid Implementation spreadsheet when creating your enterprise structure
- C. Use HCM's Enterprise Structure Configurator (ESC) first
- D. Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
- E. Deploy your chart of accounts
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