Exam Name: Oracle Financials Cloud: General Ledger 2020 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Instant Download Oracle : 1z0-1054-20 Questions & Answers as PDF & Test Engine
Updated: Oct 20, 2026
No. of Questions: 103 Questions & Answers with Testing Engine
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Office workers cannot attend every class — and do not need to. ActualVCE's 1z0-1054-20 materials let you practice in spare time on your own schedule, with 103+ Q&As covering the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials objectives and expert-verified answers throughout.
Oracle 1z0-1054-20 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Period Close Process | - Reconciliations and Adjustments - Period Close Steps |
| Topic 2: Accounting Configuration | - Accounting Methods and Rules - Subledger Accounting Integration |
| Topic 3: General Ledger Setup | - Enterprise Structure Configuration - Chart of Accounts Structure - Ledger and Ledger Options Setup |
| Topic 4: Financial Reporting | - Financial Reporting Studio - Account Analysis and Reporting |
| Topic 5: Journal Processing | - Recurring Journals - Journal Approval Workflow - Manual Journal Entries |
1z0-1054-20 Exam Answers Without the Headache
Oracle lists these prerequisites for the Oracle Financials Cloud: General Ledger 2020 Implementation Essentials: Recommended understanding of Oracle Financials Cloud fundamentals and general accounting principles..
Check the current requirements on the official certification page before booking.
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The Oracle Financials Cloud: General Ledger 2020 Implementation Essentials blueprint centers on these main domains:
- General Ledger Setup
- Journal Processing
- Accounting Configuration
The full official outline continues with further domains; the question bank covers them all.
Oracle points candidates to these official training resources:
For office workers short on class time, disciplined spare-time practice with a current bank covers the same syllabus at a fraction of the cost.
Use the official registration channels below:
Pick your test center or online session and book ahead — a fixed date focuses preparation like nothing else.
Oracle Financials Cloud: General Ledger 2020 Implementation Essentials Sample Questions:
You want to be notified of anomalies in certain account balances in real time. What is the most efficient way to do this?
- A. Create an Account Group using Account Monitor
- B. Open a Smart View file saved on your desktop
- C. Perform an account analysis online
- D. Use Account Inspector
Correct Answer: A 🗳️
You are using Oracle General Ledger (GL), Oracle Payables and Oracle Receivables and would like to prevent the closure of the GL period if the corresponding subledger period is not closed.
How will you achieve this?
- A. Set the ORA_GL_INCLD_STRICT_PRD_CLOSE profile option to yes
- B. Opt in to the Prevent Period Close option for the offering
- C. Nothing, this option is enabled automatically
- D. Set the relevant option on the Specify Ledger Options page
Correct Answer: B 🗳️
Your customer has enabled budgetary control for purchase orders. They have a purchase order for $1,000 USD which is fully reserved. An invoice for $600 is entered and matched to the purchase order, and the purchase order is closed for further invoicing.
What happens to the remaining $400 USD?
- A. Invoice type will have less funds available by $400 USD
- B. $400 USD will be expired and not available for use
- C. $400 USD will be added back to available funds
- D. Manual encumbrance journal needs to be entered in General Ledger to release the budget amount of
$400 USD - E. Only obligation type will have $400 USD funds available
Correct Answer: B 🗳️
Most of the accounting entries for transactions form your source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use TAX_AMOUNT as the source.
At what level can you override the default accounting attribute assignment?
- A. Event Type
- B. Journal Entry Rule Set
- C. Journal Entry
- D. Journal Line Rule
- E. Event Class
Correct Answer: D 🗳️
A subsidiary company, in a highly regulated country, where there is a legal requirement to produce fiscal reports under local GAAP, is about to configure their General Ledger.
Given the following:
Subledgers transferring to general ledger must use the local currency.
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 address this reporting requirement? (Choose two.)
- A. a secondary ledger with the IFRS accounting convention
- B. a reporting currency with the local accounting convention
- C. a primary ledger with the IFRS accounting convention
- D. a reporting currency with the IFRS accounting convention
- E. a primary ledger with the local accounting convention
Correct Answer: B,C 🗳️
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