Oracle 1Z1-508 Exam : Oracle Fusion Financials 11g General Ledger Essentials

Oracle 1Z1-508 exam
  • Exam Code: 1Z1-508
  • Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
  • Updated: Sep 12, 2026
  • Q & A: 127 Questions and Answers
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Oracle 1Z1-508 Exam Syllabus Topics:
SectionObjectives
Reporting and Inquiry- Financial Reporting Center
- Account Analysis and Inquiry Tools
- Financial Statements Generation
Multi-Currency and Consolidation- Currency Translation
- Financial Consolidation Concepts
- Intercompany Accounting
Period Close Process- Period Open and Close Activities
- Reconciliations and Adjustments
- Financial Close Workflow
Accounting Setup and Configuration- Ledger and Currency Setup
- Accounting Calendar Setup
- Subledger Accounting Configuration
General Ledger Overview- Oracle Fusion General Ledger Architecture
- Chart of Accounts Structure
- Ledger Concepts and Configuration
Journal Processing- Journal Import and Posting
- Manual Journal Entries
- Recurring Journals
Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:
Question #1

Identify the two items that the intercompany Reconciliation reports display.

  • A. intercompany receivables and intercompany payables lines generated by the intercompany balancing feature
  • B. intercompany receivables and intercompany payables lines generated for the provider and receiver of each intercompany transaction
  • C. clearing company balance lines
  • D. ledger balancing lines generated when the primary balancing segment value is in balance, but either the second balancing segment or the third balancing segment is out of balance
Reveal Solution  Discussion  0

Correct Answer: A,B  🗳️

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Question #2

Select the appropriate financial Reporting Center functionality that helps users to view, input, manipulate, distribute and share data from the General Ledger balances to Microsoft Excel.

  • A. Account Monitor and Account Inspector
  • B. Smart View
  • C. Financial Reporting Studio
  • D. Financial Reporting Workspace
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

Identify two valid points to be considered when configuring the workspace database connection.

  • A. A database connection is needed for each cube.
  • B. Ledgersetup has to be completed after the database connection is created.
  • C. Multiple cubes can be defined for each combination of the chart of accounts and the accounting calendar.
  • D. Cubes are created as part of ledger setup.
  • E. An ODBC connection is always required.
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

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Question #4

A company has different methods of inventory valuation. What would be the best way of capturing this in the Fusion Accounting Hub?

  • A. Journal Line Types
  • B. Adjustments in the General Ledger
  • C. Secondary Valuation method
  • D. Account Derivation Rules
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

Select two text functions that are available only for financial management.

  • A. MemberAlias
  • B. CallText
  • C. MemberProprty
  • D. MemberDescription
  • E. ProcessManagementStatus
Reveal Solution  Discussion  0

Correct Answer: A,D  🗳️

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