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

  • Exam Code: 1Z1-508
  • Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
  • Updated: Oct 04, 2026
  • Q & A: 127 Questions and Answers

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Oracle 1Z1-508 Exam Syllabus Topics:

SectionObjectives
Journal Processing- Recurring journals and allocations
- Creating and managing journals
- Journal approval workflows
General Ledger Setup- Currency and calendar setup
- Chart of Accounts structure
- Ledger configuration and setup
Security and Access Control- Role-based access control
- Ledger security rules
Reporting- Financial statements generation
- Standard and ad-hoc reporting
Ledger and Accounting Processes- Posting journals to ledger
- Period close process
- Accounting calendar periods

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Question #1

What is the best view or tool to use it you need to quickly perform an ad hoc ledger query that drill down to in a web view?

  • A. Account Inspector
  • B. Oracle Hyperion Smart View
  • C. Account Monitoring
  • D. Oracle Hyperion Financial Reporting Studio
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

Which view do you use to set parameters and define the data that is displayed in the SmartView report.

  • A. SmartCube
  • B. Point of View
  • C. SmrtView
  • D. SmartSlice
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

Transactions may involve multiple currencies that require a common currency to make the reports meaningful. What are the amounts Oracle Business Analytics Warehouse uses to store currency?

  • A. Currency Symbol, Currency Name
  • B. Report Currency
  • C. Currency Code, Currency Name
  • D. Global Currency (two common currencies), Document Currency,Local Currency
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

Journal Approval has been enabled, however, the journal did NOT submit to the appropriate manager for approval. Which three additional steps must, be performed for the approval process to work?

  • A. Set up journal category to use journal approval.
  • B. Set up journal sources to use Journal approval.
  • C. Define approver authorization limits.
  • D. Create an approval hierarchy.
  • E. Enable customization.
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #5

Changing a Fusion Intercompany system option would______________.

  • A. be effective on transactions in progress
  • B. take effect only on new transactions going forward
  • C. take effect on new, existing, and transactions in progress
  • D. will be retroactive and include historical transactions
  • E. impact both new and transactions in progress
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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