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Oracle 1Z1-508

1Z1-508

Exam Code: 1Z1-508

Exam Name: Oracle Fusion Financials 11g General Ledger Essentials

Updated: Sep 02, 2025

Q & A: 127 Questions and Answers

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Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

1. Select the option that helps in sharing Account Rules across applications.

A) Reference Objects
B) Same Value Set validation
C) Same Chart of Accounts
D) Transaction Objects


2. The life cycle of a transaction's accounting impact is modeled by using__________.

A) Event Classes and Types
B) Process Categories
C) Event Entities
D) Journal Categories
E) Journal Sources


3. Choose the four steps required to create and use the chart of accounts.

A) Create Account Hierarchies.
B) Publish Account Hierarchies.
C) Create Chart of Accounts Structure Instance.
D) Create Chart of Accounts Structure.
E) Create Value Set Values.
F) Create Value Sets.


4. Which view do you use to set parameters and define the data that is displayed in the SmartView report.

A) SmartCube
B) Point of View
C) SmrtView
D) SmartSlice


5. Which three types of objects can be created in Allocation Manager?

A) components that contain formulas, points of view, or allocation Objects
B) Journal formulas grouped together and executed sequentially to update account balances step by step
C) Rules that contain components, such as points of view, formulas, and templates
D) Rule Sets that contain sets of rules that can be calculated sequentially
E) Complex computations based on different variables to automatically calculate allocated amounts.


Solutions:

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

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