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Oracle 1Z0-1059-21 Exam Syllabus Topics:
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NEW QUESTION 17
What does a Variable Consideration require?
- A. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized
- B. a disclosure be made to the shareholders
- C. an estimate of the consideration be made at inception only
- D. that the consideration be monetary
Answer: C
NEW QUESTION 18
Which is a term under ASC 606 or IFRS 15?
- A. transaction price
- B. requires complete
- C. initial performance event
- D. promise detail
Answer: A
NEW QUESTION 19
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Contract Identification Rules
- B. Source Document Types
- C. Items
- D. Pricing Dimension Segments
Answer: B
NEW QUESTION 20
What is a Performance Obligation?
- A. a promise to a customer on which either party has acted
- B. a promise to a customer
- C. a combination of customer type and product code
- D. a product code or SKU
Answer: B
NEW QUESTION 21
A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
Which two options are available In Revenue Management to convert transaction amounts to the USD currency?
- A. Provide currency conversion details in the Revenue Basis Data Import Template.
- B. Enter Conversion Rate Type in System Options.
- C. Enter exchange rate information in Standalone Selling Price Profile.
- D. Select Conversion Rate Type in the Source Document Type setup.
- E. Run the Revenue Management translation process.
Answer: B,E
NEW QUESTION 22
Which statement is NOT applicable to Performance Obligation Templates?
- A. Performance Obligation Templates can be associated to a Revenue Price Profile.
- B. Oracle delivers three predefined Performance Obligation Templates,
- C. Performance Obligation Templates are specific to the business and cannot be predefined.
- D. Performance Obligation Templates take precedence over Performance Obligation Rules.
Answer: B
NEW QUESTION 23
Why Is Satisfaction Method a key element of a Performance Obligation?
- A. because it determines whether revenue for a good or service is recognized Over Time or Point in Time
- B. because it calculates the amount of Total Transaction Price allocated to date
- C. because it calculates the percentage of Total Transaction Price allocated to date
- D. because it specifies whether revenue has been fully or partially recognized for a good or service
Answer: A
NEW QUESTION 24
After analyzing sales documents for your organization, you conclude that it will be appropriate to group transaction lines by customer to create contracts In Revenue Management.
Which predefined Contract Identification Rule can be used in this case?
- A. Identify Customer Contract Based on Source Document
- B. Identify Customer Contract Based on Source System
- C. Identify Customer Contract Based on Source Document Line
- D. Identify Customer Contract Based on Party
Answer: A
NEW QUESTION 25
When is it required to populate the number of periods and percentage of revenue (seen in the image below) while defining a revenue scheduling rule?
- A. when Context Values are populated
- B. when the Deferred Revenue box is checked
- C. when it is a business requirement
- D. when the Type is Fixed or Variable
Answer: D
NEW QUESTION 26
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How should you configure Revenue management to ensure that these items are grouped into one performance obligation?
- A. By defining a Performance Obligation Template.
- B. By defining a Standalone Selling Price Profile.
- C. By defining a Revenue Item Group
- D. By defining a Contact Identification Rule.
Answer: C
NEW QUESTION 27
How many tabs does the Customer Contract Source Data Import Template have?
- A. four tabs that store data for the
VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, and VRM_PERF_OBLIG tables respectively - B. three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively
- C. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively
- D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table
Answer: B
Explanation:
You can import source transactions using the Customer Contract Source Data Import process. Customer Contract Source Data Import uses three interface tables--one parent table and two child tables--to represent source documents, source document lines, and source document sub-lines. The parent table, VRM_SOURCE_DOCUMENTS contains the source document information. The child tables contain the following information for a given interface line record: VRM_SOURCE_DOC_LINES contains source document line details; VRM_SOURCE_DOC_SUB_LINES contains source document sub line details
NEW QUESTION 28
Revenue Management integrates with the Subledger Accounting application. Which three services does Subledger Accounting provide to Revenue Management?
- A. revaluation of assets and liabilities
- B. General Ledger journal creation
- C. multiple accounting representations
- D. General Ledger account derivation based on predefined events
- E. stand-alone selling price derivation
- F. centralized accounting solution
Answer: A,B,C
NEW QUESTION 29
Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?
- A. when a pricing dimension structure Instance Is enabled for pricing bands
- B. when a pricing dimension structure is enabled for pricing bands
- C. when a value set segment label of Set Band is used
- D. when a source document type is enabled to use pricing bands
Answer: B
NEW QUESTION 30
Given your organization's Interactions with one of Its customers:
A consultant is deployed to assist customer on 10-Sep-2017.
A Sales order is booked on 14-Sep-2017.
The Product is shipped on 15-Sep-2017.
An Invoice is issued on 20-Sep-2017.
When do you accrue the contract liability?
- A. when an invoice is issued on 20-Sep-2017
- B. when the consultant is deployed to assist customer on 10-Sep-2017
- C. when the sales order Is booked on 14-Sep-2017
- D. when the product is shipped on 15-Sep-2017
Answer: B
NEW QUESTION 31
Which three tasks can be performed In the Revenue Management Work Area?
- A. Manage contracts in "Pending Review" status.
- B. Review Revenue Price Profiles.
- C. Manage contracts in "Pending Allocation" status.
- D. Edit Contract Identification Rules.
- E. Review Observed Standalone Selling Prices.
- F. Review Performance Satisfaction Plans.
Answer: A,C,E
NEW QUESTION 32
Which configuration component is Source Document Type NOT connected to?
- A. Contract Identification Rules
- B. Performance Obligation Template
- C. Performance Obligation Identification Rules
- D. Revenue Management System Options
- E. Revenue Price Profile
Answer: E
NEW QUESTION 33
Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?
- A. recognizes revenue if any satisfaction events exist
- B. allocates the SSP to various satisfaction events
- C. allocates the SSP to various performance obligations
- D. creates customer contracts and performance obligations
- E. creates the accounting for the stages in the process
Answer: E
NEW QUESTION 34
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. Revenue Management can only integrate to Fusion Receivables.
- B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
- C. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
- D. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
Answer: A,D
NEW QUESTION 35
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