Get real 1Z0-1054-21 exam questions for better preparation
Real Oracle 1Z0-1054-21 practice exam questions for easy pass!
Updated: May 30, 2026
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Oracle Financials Cloud: General Ledger 2021 Implementation Essentials Sample Questions:
1. You are implementing a multipillar implementation of both HCM Cloud and ERP Cloud. You are implementing ERP first followed by HCM Cloud. You want to ensure your ledgers and chart of accounts are correctly defined. What should you do? (Choose three)
A) Use HCM's Enterprise Structure Configurator (ESC) first
B) Deploy your chart of accounts
C) Use file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies
D) Create your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets
E) Use the Rapid Implementation spreadsheet when creating your enterprise structure
2. When creating financial Reports which two tools use data from the General Ledger Balances Cube?
A) Financial Reporting Studio
B) Oracle Financial Statement Generator
C) Financial Reporting Center
D) Smart view
3. What is the most efficient way to add a new year to the accounting calendar?
A) The application automatically populates the next year when you open the first
B) Import the periods from a spreadsheet
C) Add the periods manually
D) Use the Add Year button
4. Your customer is a financial Institution that needs to maintain average daily balances (ADB). Which two statements are true regarding this functionality in Fusion Applications?
A) Average balances are stored for both subledger balances and general ledger balances
B) When using ADB, you must define a daily calendar and assign it to your ADB ledger
C) Average balances are maintained for both actual and budget balances
D) Average balances are stored in the Essbase cube
E) ADB provides organizations with the ability to track average and end-of-day balances, report average balance sheets, and create custom reports using both actual and average balances
5. During implementation, a consultant accidentally designated the cost center segment as the natural account. Values have already been assigned and journals have been posted.
Select the process that allows you to change the qualifier back to cost center qualifier.
A) Delete the chart of accounts and create a new one.
B) Create a new chart of accounts.
C) Delete the segment and create a new segment with the correct qualifier.
D) Change and save the segment qualifier.
Solutions:
| Question # 1 Answer: A,B,E | Question # 2 Answer: A,D | Question # 3 Answer: D | Question # 4 Answer: C,E | Question # 5 Answer: A |
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