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1Z0-508 - Oracle Fusion Financials 11g General Ledger Essentials - Dump Information

Vendor : Oracle
Exam Code : 1Z0-508
Exam Name : Oracle Fusion Financials 11g General Ledger Essentials
Questions and Answers : 127 Q & A
Updated On : Click to Check Update
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1Z0-508 Questions and Answers

Pass4sure 1Z0-508 Dumps with Real Questions & Practice Test


Permissions and privileges can be assigned to users directly or through membership in application roles or Catalog groups. From another perspective, permissions and privileges can be assigned explicitly or effectively. Effective permissions and privileges are assigned indirectly through inheritance from application roles or Catalog groups, which is the recommended approach for assignments.

Reference: Oracle Fusion Middleware System Administrator's Guide for Oracle Business Intelligence Enterprise Edition, Managing Security for Dashboards and Analyses


Which is an example of embedded intelligence in the Fusion General Accounting Dashboard?

  1. moving the cursor over projected balances displays the impact a journal will have on accounts

  2. running a trial balance report to reconcile books

  3. getting more detail on a balance by clicking the Show More button

  4. setting notification thresholds in the Account Monitor view

Answer: A


Embedded intelligence provides immediate actionable insight. This feature gives you access to information or data to help you complete your transactions. In some instances, embedded intelligence can offer suggestions or recommendations. In other instances, it can offer predictive intelligence. Embedded intelligence appears on the same page as your transaction, enabling you to always remain in the context of your task, and eliminates the need to query or run reports.

Note: You’re ready to take action to resolve the balance issue by modifying the suspect journal line. This edit can be accomplished inline. So how do you know what impact your edit will have on the account balance? This is where embedded intelligence comes in to play.

Incorrect answers:

C: Oracle Fusion Detail on Demand.

Example: Clicking the Show More link lets you see all the nonrequired fields associated with the journal batch


Get It Done Fast, Get It Done Right: The Oracle Fusion Financials User Experience


Choose the three interfaces that integrate with SmartView to view, import, manipulate, distribute and share data.

  1. Microsoft Excel

  2. Microsoft Access

  3. Microsoft Word

  4. Microsoft PowerPoint

  5. Microsoft Notes

Answer: A, C, D


Using Smart View, you can view, import, manipulate, distribute and share data in Microsoft Excel, Word, Outlook and PowerPoint interfaces.


Which accounting attribute group will capture a customer’s accounting invoice and the cash applied to that invoice?

  1. Distribution identifiers

  2. Business Flow

  3. Tax attribute

  4. System Transaction identifiers

Answer: D


System transaction identifiers provide a link between an accounting event and its associated transaction or document. An identifier is the primary key of the underlying subledger transaction, usually the name of the surrogate key column on the transaction (header) associated with the accounting event. At least one system transaction identifier must be defined for the accounting event class. When an accounting event is captured, system transaction identifiers, along with other required event data, are validated for completeness. Use event entities to tie subledger transaction entities with their accounting representation. The Financial Services Accounting Hub uses event entities to maintain the system transaction identifiers that uniquely identify the subledger transactions associated with the accounting events.

Incorrect answers:

A: distribution identifier

(Oracle Subledger Accounting) A distribution identifier corresponds to the sources that form the unique key of transaction distributions. Examples of distribution identifiers include invoice_distribution_id and distribution_id.


A company has the second and third balancing segment enabled for its chart of accounts, and the journal is balanced by the primary balancing segment but is out of balance by the second and third balancing segment. This is an example of


  1. Chart Account Balancing Rule

  2. Balancing Segment Rule

  3. Chart of Account Rule

  4. Segment qualifier

Answer: D



Ledger balancing options are defined for the ledger to balance the second balancing segment and/or the third balancing segment, when a transaction is unbalanced by one of these segments.

Simple ledger balancing option with no clearing company options

In this scenario the enterprise has the second balancing segment and the third balancing segment enabled for its chart of accounts.


InFusion USA Chart of Accounts


Note: You can define intercompany balancing rules at the following rule levels: 1.Primary balancing segment

2.Legal entity 3.Ledger

4.Chart of accounts

The rules are evaluated in the order shown above. For example, you can define a Primary Balancing Segment rule and a Legal Entity level rule. If both rules are used to balance a particular journal, the Primary Balancing Segment rule is used, as it has a higher precedence. You have flexibility in defining your intercompany balancing rules. You can have a simple setup in which you define one rule for your chart of accounts. This rule is used for all intercompany balancing for all ledgers that use this chart of accounts. Alternatively, you can have a more granular set of rules. For example, you can define a different rule for each legal entity and one chart of accounts rule to cover any gaps in your rule definitions. You can gain even more

granularity by defining rules for specific journal and/or category combinations or intercompany transaction types.


Oracle Fusion Accounting Hub Implementation Guide, Manage Ledger Balancing Options


Which attribute does NOT need to be considered when creating intercompany transaction?

  1. Legal Entity

  2. Receivables and Payables Business Units

  3. Default Organization contact

  4. Default Transaction Type

Answer: C


Note: An intercompany transaction is a transaction between two entities with common ownership. The accounting for intercompany transactions is recorded separate from standard transactions in Oracle Fusion Receivables. Receivables determines a transaction to be an intercompany transaction based on the first party

(legal entity) and third party (bill-to customer) relationship defined in the

intercompany accounting setup. When a transaction is marked as intercompany, the intercompany receivables account is used for accounting instead of the standard receivables account derived from AutoAccounting. This applies to transactions both created manually and imported using AutoInvoice.


Identify the valid data source where key Figure Manager is used for Financial Reporting.

  1. EssBase

  2. Financial Management

  3. Planning

  4. SAP BW


Answer: D


Key Figure Manager is used against an SAP BW data source only.


Using the Key Figure Manager for Financial Reporting


Oracle Business Intelligence Enterprise Edition (OBIEE) allows buttons to create, manage, and invoke the task functionality within the application. What framework is used to set them up?

  1. Resource Description Framework (RDF)

  2. Action Framework

  3. Seed Data Framework (SDF)

  4. Security Framework

  5. Application Development Framework (ADF)

Answer: B


The Oracle Business Intelligence 11g Action Framework makes it possible to set up navigation paths to critical information that can be displayed on analyses right next to users’ data. These paths—or

“action links”—can bring up related reports or Websites, or they can enable users to

complete business processes by performing actions that access separate applications. Action links are displayed as contextual menus and can contain either mandatory or optional items, depending on conditions you have defined.

Incorrect answers:

E: Oracle ADF Faces is based on the JavaServer Faces (JSF) JSR 127 specification. Oracle ADF Faces components are used in the user interfaces of the application. These components can be used in any IDE that supports JSF.


At which two levels do you need to enable the approval process you start defining it?

  1. Ledger

  2. Source

  3. Journal

  4. Category

Answer: A, C

Oracle 1Z0-508 Exam (Oracle Fusion Financials 11g General Ledger Essentials) Detailed Information

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