Oracle Fusion Financials 11g General Ledger Essentials : 1Z0-508 Exam Questions

  • Exam Code: 1Z0-508
  • Exam Name: Oracle Fusion Financials 11g General Ledger Essentials
  • Updated: Oct 02, 2026
  • Q&As: 127 Questions and Answers

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Oracle 1Z0-508 Exam Syllabus Topics:

SectionObjectives
Topic 1: Period Close Process- Period Open and Close Activities
- Financial Close Workflow
- Reconciliations and Adjustments
Topic 2: Multi-Currency and Consolidation- Financial Consolidation Concepts
- Intercompany Accounting
- Currency Translation
Topic 3: General Ledger Overview- Ledger Concepts and Configuration
- Oracle Fusion General Ledger Architecture
- Chart of Accounts Structure
Topic 4: Reporting and Inquiry- Financial Reporting Center
- Financial Statements Generation
- Account Analysis and Inquiry Tools
Topic 5: Accounting Setup and Configuration- Ledger and Currency Setup
- Subledger Accounting Configuration
- Accounting Calendar Setup
Topic 6: Journal Processing- Journal Import and Posting
- Recurring Journals
- Manual Journal Entries

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Question #1

When configuring the allocation and periodic entries, which three tasks must be completed before generating the entries?

  • A. The period is set to Open, Never Open or Future Enterable.
  • B. The period is set to Open or Future Enterable
  • C. The rules or rules sets have been defined, validated and deployed successfully from the Allocation Manager.
  • D. The journal balances for the allocation or periodic rules are entered and posted in the proper period.
  • E. The period is set to Closed, Never Open or Future Enterable.
Reveal Solution  Discussion  0

Correct Answer: B,C,D  🗳️

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Question #2

Identify the option that needs to be selected at the header level when assigning a header level subledger Journal Rule Set.

  • A. Currency
  • B. Ledger
  • C. Accounting Date
  • D. Supporting Reference
  • E. Description
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for VCEPrep members. You can sign-up / login (it's free).

Question #3

Which method will reverse accruals in the next accounting period?

  • A. Create two events, one for accrual and another for the reversal.
  • B. Create one entry and use Accrual Reversal GL Date.
  • C. Create one event and use the Accounting Reversal attribute.
  • D. Create one event and use the GL functionality to perform the reversal.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

Identify the valid data source where key Figure Manager is used for Financial Reporting.

  • A. MSOLAP
  • B. SAP BW
  • C. Planning
  • D. Financial Management
  • E. EssBase
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for VCEPrep members. You can sign-up / login (it's free).

Question #5

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

Correct Answer: B  🗳️

Explanation: Only visible for VCEPrep members. You can sign-up / login (it's free).

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