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Oracle Oracle Financials Cloud 1z0-1054-23

1z0-1054-23

Exam Code: 1z0-1054-23

Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional

Updated: Jul 15, 2026

Q & A: 52 Questions and Answers

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Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:

1. For translation purposes, the Financials reporting team has decided to load the monthly Historical currency rates by using File-Based Data Interface (FBDI).
What happens to the existing historical rate for a specific ledger, currency, account combination, and accounting period if they use insert in the spreadsheet?

A) Historical rates are converted into an average rate (original and new rate).
B) The existing historical rate is deleted.
C) Nothing, existing historical rates are not updated.
D) The historical rate is replaced.


2. You need to set up a calendar for the year Apr-XX to Mar-YY where YY is the following year, and you would like the periods to be named according to the year they fall in.
What format should you choose?

A) Year
B) Fiscal Year
C) Calendar Year
D) Period


3. A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?

A) Secondary ledger with the IFRS accounting convention
B) Primary ledger with the local accounting convention
C) Reporting currency with the IFRS accounting convention
D) Reporting currency with the local accounting convention
E) Primary ledger with the IFRS accounting convention


4. You have three ledgers that use the same chart of accounts with one intercompany payable and one intercompany receivable account. The chart of accounts also has an intercompany segment. Each ledger has one legal entity assigned to it and each legal entity is associated with one balancing segment value.
At what level should you define the default intercompany balancing rule?

A) Chart of accounts rule
B) Ledger-level rule
C) Primary balancing segment rule
D) Legal entity-level rule


5. Which two statements are true about infotiles and infolets?

A) Infotiles pull data from a Smart View analysis.
B) Infolets are accessed only from the News Feed home page layout.
C) You can refresh infolets to see up-to-date data.
D) You can create your own user-defined infolets.
E) Infotiles have Front view. Back view, and Expanded view.


Solutions:

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

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