Study with 1Z1-508 Actual Test Questions

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Last Updated: Oct 07, 2026

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Oracle 1Z1-508 Exam Syllabus Topics:

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

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

Question #1

Which three rule types are used to build an account rule?

  • A. Segment
  • B. Value Set
  • C. Account Combination
  • D. Mapping Set
  • E. System Transaction Identifiers
Reveal Solution  Discussion  0

Correct Answer: A,B,D  🗳️

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Question #2

Which task enables you to define the legal entities that are classified as intercompany organizations?

  • A. Define intercompany transactions.
  • B. Enter intercompany transactions.
  • C. Edit intercompany transactions.
  • D. Manage intercompany transactions.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

What can be used to restrict the events selected for accounting when users submit the Accounting Process?

  • A. Event Types
  • B. Process Category
  • C. EventClasses
  • D. Batch Name
  • E. Journal Line Types
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Correct Answer: B  🗳️

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Question #4

When reconciling transactions, accounted amounts in a reconciliation report may be different due to differences in the currency conversion rates used. To mitigate the differences in the account balances you should ____________.

  • A. Run the report using an additional common currency conversion rate
  • B. Add a ledger-balancing line in the intercompany Payables account and rerun the report
  • C. Run additional reports using a number of varied currency conversion rates
  • D. Add a ledger-balancing line in the intercompany Receivables account and rerun the report
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Correct Answer: B  🗳️

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Question #5

You are required to enter the daily rates for currency conversion from British pound (GBP) to United States dollars (USD) each day. Which Excel add-in application do you use to load the daily rates?

  • A. Financial Reporting Studio
  • B. Application Development Framework Integration
  • C. SmartView
  • D. Web ADI
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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