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Oracle 1z0-408 exam : Oracle Fusion Financials: General Ledger 2014 Essentials

1z0-408 Exam Questions
  • Exam Code: 1z0-408
  • Exam Name: Oracle Fusion Financials: General Ledger 2014 Essentials
  • Updated: Sep 13, 2026
  • Q & A: 76 Questions and Answers
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Oracle 1z0-408 Exam Syllabus Topics:

SectionWeightObjectives
Reporting and Analysis10%- Account inspector and balance analysis
- Trial balance and inquiry tools
- Financial reporting using OTBI and Smart View
Ledgers and Accounting Configurations20%- Currency and conversion rules
- Defining ledgers, ledger sets, and reporting currencies
- Accounting calendars and period management
Consolidation and Close Process15%- Translation and revaluation
- Period close and year-end processing
- Consolidation methods and eliminations
Journal Processing20%- Journal import and validation
- Recurring, allocation, and reversal journals
- Creating, approving, and posting journals
Intercompany and Balancing15%- Configuring intercompany accounts and rules
- Intercompany reconciliation
- Automatic balancing and elimination entries
Chart of Accounts20%- Value sets, segments, and qualifiers
- Designing and configuring chart of accounts structure
- Cross-validation rules and segment security

Oracle Fusion Financials: General Ledger 2014 Essentials Sample Questions:

Question #1

Your customer has a large number of legal entities. The legal entity values are defined in the company segment and the primary balancing segment. They want to easily create eliminating entries for the intercompany activity.
What should you recommend?

  • A. Define an intercompany segment in the chart of accounts. The Intercompany module and the intercompany balancing feature in general ledger and sub ledger accounting will automatically populate the intercompany segment with the balancing segment value of the legal entity with which you are trading.
  • B. There is no need to define an intercompany segment. You can track the Intercompany trading partner using distinct intercompany receivable/payable natural accounts to identify the trading partner.
  • C. Define an intercompany segment and qualify it as the second balancing segment to make sure all entries are balanced for the primary balancing segment and intercompany segment.
  • D. There is no need to define an intercompany segment, the Intercompany module keeps track of the trading partners for you based on the Intercompany rules you define.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #2

You want to define a tree or hierarchy for use in reports and allocations.
What three aspects should you remember when creating the tree?

  • A. You need to flatten the rows to be able to use drilldown in Smart View and you must publishtree to view the hierarchy in Essbase cubes.
  • B. You only need to flatten the columns if you plan to use the hierarchy in Oracle Transactional Business Intelligence (OTBI).
  • C. You must flatten the columns and publish the tree to view the hierarchy in Essbase cubes.
  • D. It is fine to have the same child value roll up to two or more different parent values.
  • E. The tree should have at least two tree versions to reduce report and allocation maintenance.
Reveal Solution  Discussion  0

Correct Answer: C,D,E  🗳️

Question #3

Your customer has three legal entities, 50 departments, and 10,000 natural accounts. They use intercompany entries.
What is Oracle's recommended best practice when implementing; a new chart of accounts? How many segments and what segment qualifiers should be used?

  • A. Define four segments for the company, department, natur.il account, and intercompany segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, and intercompany segment, respectively.
  • B. Define three segments for the company, department, and natural account. The qualifiers shouldbe primary balancing segment, cost center segment, and natural account segment, respectively
  • C. Define five segments for the company, department, natural account, intercompany, and future use segment. The qualifiers should be primary balancing segment, cost center segment, natural account segment, intercompany segment, and no qualifier, respectively.
  • D. Define three segments tor the company, department, and natural account. The qualifiers for the first segment should be primary balancing segment and intercompany segment, cost center segment, and natural account segment, respectively.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #4

Which two statements are true regarding how Intercompany Balancing Rule, are defied?

  • A. You can define different balancing rules for different combinations of journal sources, journal categories, and transaction types
  • B. All ledgers engaged in an intercompany transaction must share the same chart: of accounts in order to define balancing rules
  • C. You can only define balancing rules for different journals' sources. You cannot define balancing rules for different journal categories.
  • D. You can define different rules for different charts of accounts, ledgers, legal entities, and primary balancing segment value.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

You are required to enter a high volume of users into the system. What does Oracle consider best practice to do this?

  • A. Use the spreadsheet templates available in Oracle Enterprise Repository (OER) and then import users into Fusion Applications.
  • B. Use the spreadsheet available in Oracle Identity Manager (OIM) to import users.
  • C. Use SQL to populate the HR interface tables and load employees in bulk.
  • D. Use the "Hire an Employee" user interfaceto inter each user manually.
  • E. Use the "Enter a Supplier" user interface to enter each user manually.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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