Most Recent Oracle 1Z0-1054-24 Exam Dumps

Prepare for the Oracle Financials Cloud: General Ledger 2024 Implementation Professional exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Oracle 1Z0-1054-24 exam and achieve success.

The questions for 1Z0-1054-24 were last updated on Mar 2, 2026.

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Question No. 1

Users with the General Accountant job role have reported that they are unable to access the UK Ledger. They require read/write access to the full ledger. The accounting configuration completed successfully.

What should you do to allow access to the ledger?

AAssign the UK reference set to the user/role combination.

BAssign the security context value of UK Ledger to the user/role combination.

CCreate a data access set that allows access to the UK Ledger.

DAssign the General Accounting Manager role to those users.

Show Answer

Correct Answer: C

Data access sets are collections of ledgers that define the data security for users who access General Ledger. Users can only access the ledgers that are assigned to them through data access sets. To allow users with the General Accountant job role to access the UK Ledger, you need to create a data access set that includes the UK Ledger and assign it to the user/role combination. You also need to specify the access privilege for the data access set, which can be Full Ledger, Both Read and Write, or Read Only. In this case, you need to select Both Read and Write to allow read/write access to the full ledger.Reference:

Implement General Ledger

GL_ACCESS_SET_LEDGERS

The Default Data Access Set

Overview of General Ledger Security

Question No. 2

Which two statements are TRUE regarding the Balances Cubes in General Ledger?

AThey are updated automatically when the General Ledger period is opened.

BThey are updated automatically when the Revaluation process is run.

CNew dimensions can be added to a General Ledger Balances Cube.

DA new Balances Cube is created for a unique combination of Ledger and Currency.

EThey are updated automatically when the Translation process is run.

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Correct Answer: A, E

Question No. 3

After completing a business requirement mapping session, it has been decided that only single Currency Journals will be entered for this Company.

To achieve this requirement, on which two objects should you enable ''Limit a Journal to a Single Currency''? (Choose two.)

AJournal lookup codes

BLedger options

CJournal sources

DJournal category

EProfile option

Show Answer

Correct Answer: B, C

To achieve the requirement of only single currency journals being entered for this company, you should enable ''Limit a Journal to a Single Currency'' on both ledger options and journal sources. Ledger options are settings that apply to a specific ledger, such as journal processing options, currency options, and average balance processing options. Journal sources are identifiers that indicate where a journal originated, such as manual entry, subledger accounting, or import. You can enable ''Limit a Journal to a Single Currency'' on both ledger options and journal sources using the Specify Ledger Options and Manage Journal Sources tasks in Setup and Maintenance. This will enforce single currency journals for journals entered on the Create Journal page and for journals that are imported. You do not need to enable ''Limit a Journal to a Single Currency'' on journal lookup codes, as these are codes that indicate the status of a journal, such as Entered, Posted, or Reversed. You do not need to enable ''Limit a Journal to a Single Currency'' on journal category, as this is an attribute that classifies journals by purpose or function, such as Purchase Invoices or Allocations. You do not need to enable ''Limit a Journal to a Single Currency'' on profile option, as this is a setting that affects the behavior of an application or feature for a user or responsibility.Reference: Oracle Financials Cloud: General Ledger 2022 Implementation Professional Objectives - Define Ledgers12

Question No. 4

You are using the Create Budgets in a Spreadsheet option to load your budget balances into the GL balances cube. Your FYXX Budget is not appearing in the Budget Name list of values.

Which two are the reasons for this?

AA value for the budget scenario has not been created.

BBudgeting has not been enabled in the ledger options.

CThe Transfer Budget Balances to Budget Cubes has not been run.

DThe Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.

EThe Create Scenario Dimension Members program has not been run.

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Correct Answer: A, E

Question No. 5

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.)

AUse file-based spreadsheet loaders using UCM to mass load and maintain chart of accounts segment values and hierarchies.

BUse the Rapid Implementation spreadsheet when creating your enterprise structure.

CDeploy your chart of accounts.

DCreate your chart of accounts in the following order: value sets, COA structure, and instance before assigning values to the value sets.

EUse HCM's Enterprise Structure Configurator (ESC) first.

Show Answer

Correct Answer: B, D, E

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