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Oracle Oracle Applications 1z1-408

1z1-408

Exam Code: 1z1-408

Exam Name: Oracle Fusion Financials: General Ledger 2014 Essentials

Updated: Aug 19, 2026

Q & A: 76 Questions and Answers

1z1-408 Free Demo download:

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Oracle 1z1-408 Exam Syllabus Topics:

SectionWeightObjectives
Journal Processing20%- Creating, approving, and posting journals
- Recurring, allocation, and reversal journals
- Journal import and validation
Intercompany and Balancing15%- Automatic balancing and elimination entries
- Configuring intercompany accounts and rules
- Intercompany reconciliation
Ledgers and Accounting Configurations20%- Defining ledgers, ledger sets, and reporting currencies
- Accounting calendars and period management
- Currency and conversion rules
Consolidation and Close Process15%- Consolidation methods and eliminations
- Translation and revaluation
- Period close and year-end processing
Reporting and Analysis10%- Account inspector and balance analysis
- Trial balance and inquiry tools
- Financial reporting using OTBI and Smart View
Chart of Accounts20%- Designing and configuring chart of accounts structure
- Cross-validation rules and segment security
- Value sets, segments, and qualifiers

Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

1. While creating a Journal Entry Rule Set, you are not able to use an Account Rule recently created.
Which two options explain that?

A) The Account Rule is using sources assigned to different event classes from that of the associated Journal Entry Rule Set.
B) The Account Rule's chartof accounts have no account values assigned
C) The Account Rule's conditions are not defined.
D) The Account Rule is defined with a different chart of accounts from the Journal Entry Rule Set.


2. You are reconciling your subledger balances and you need a report that includes beginning and ending account balances and all transactions that constitute the account's activities.
What type of report will provide this type of information?

A) Aging Reports
B) Account Analysis Reports
C) Journals Reports
D) An Online Transactional Business Intelligence (OTBI) report to create ad hoc queries on transactions and balances


3. You are defining an income statement report. You want to allow viewers of the report to be able to drill down from report balances to the underlying transactions. What do you need to enable?

A) Drill Through in Grid Properties
B) Allow Expansion
C) Report Functions
D) Nothing. All report balances are drillable in all FR Studio reports.


4. Your customer requires physical invoices to be generated in Fusion Payables and Fusion Receivables for the intercompany payables and receivables transactions.
What statement is correct with regard to setting this up?

A) You must assign the corresponding Receivables and Payables Business Units.
B) You only need to assign the Legal Entity and Organization Contact.
C) You must perform additional setup steps for Fusion Payables and Fusion Receivables.
D) You can only associate one Intercompany Organization per Legal Entity.


5. Your customer is having issues transferring intercompany transactions to General Ledger..
Identify three reasons for this.

A) The intercompany transaction is not approved.
B) The intercompany period is closed.
C) Both the intercompany and general ledger periods are open.
D) If they are different, then the exchange rate is missing between the intercompany and ledger currency.
E) The corresponding Payables and Receivablesinvoicehave not been generated.


Solutions:

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

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