2021 1Z0-1059-21 Dumps PDF - 1Z0-1059-21 Real Exam Questions Answers
Valid 1Z0-1059-21 Test Answers & Oracle 1Z0-1059-21 Exam PDF
Oracle 1Z0-1059-21 Exam Syllabus Topics:
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NEW QUESTION 13
Which three statements about Effective Periods are true?
- A. You cannot have overlapping periods.
- B. Gaps between periods are not allowed.
- C. If effective periods are not defined. Revenue Management uses the General Ledger calendar.
- D. Effective Periods only define the rage where standalone selling prices of an item should be effective.
- E. Effective Periods are used for standalone selling prices and for creating journal entries.
Answer: A,D,E
NEW QUESTION 14
Which, when transferred to a customer, allows you to recognize revenue?
- A. an invoice
- B. promise detail
- C. a performance obligation
- D. a shipment
Answer: C
NEW QUESTION 15
The predefined Revenue Contract Account Activities report originally had only one output option of spreadsheet.
Which output option can you now also choose to assist In handling a large number of records?
- A. Flat File
- B. PDF
- C. HTML
- D. PowerPoint
Answer: A
NEW QUESTION 16
What is the correct match sequence of the descriptions A, B and C against the titles?
- A. C, B, A
- B. B, A, C
- C. B, C, A
- D. A, B, C
- E. A, C, B
- F. C, A, B
Answer: B
NEW QUESTION 17
Which is a term under ASC 606 or IFRS 15?
- A. initial performance event
- B. promise detail
- C. requires complete
- D. transaction price
Answer: D
NEW QUESTION 18
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.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?
- A. Create source document types specifically for Euro documents.
- B. Populate Conversion Rate Type in System Options.
- C. Create revenue prices in the Euro currency.
- D. Populate exchange rates in Revenue Price Profile.
Answer: B
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM2371348
NEW QUESTION 19
If the Contract Identification Rules that you defined for your customer did not group the source data into customer as expected, how would you resolve the issue?
- A. Delete Contracts from the Manage Customer Contracts Ul.
- B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts Ul.
- C. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run The Identify Customer Contracts program again.
- D. Delete the source data that was imported into Revenue Management and import new source data.
- E. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
Answer: C
NEW QUESTION 20
Which three tasks can be performed In the Revenue Management Work Area?
- A. Edit Contract Identification Rules.
- B. Review Performance Satisfaction Plans.
- C. Manage contracts in "Pending Review" status.
- D. Review Revenue Price Profiles.
- E. Review Observed Standalone Selling Prices.
- F. Manage contracts in "Pending Allocation" status.
Answer: C,E,F
NEW QUESTION 21
Oracle Revenue Management is part of_____________________predefined offering.
- A. Incentive Compensation
- B. Fusion Accounting Hub
- C. Financials
- D. Enterprise Contracts
Answer: C
NEW QUESTION 22
Your organization Is selling a warranty plan to customers that covers appliances for one year. Revenue must be recognized gradually by month until the warranty expires.
Which Revenue Scheduling Rule Type needs to be defined for the Performance Satisfaction Plan?
- A. Variable Schedule
- B. Daily Revenue Rate, All Periods
- C. Daily Revenue Rate, Partial Periods
- D. Daily Revenue Rate
- E. Partial Schedule
- F. Fixed Schedule
Answer: F
NEW QUESTION 23
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
- A. Oracle Revenue Management Cloud
- B. Oracle Receivables
- C. Oracle General Ledger
- D. Oracle Subledger Accounting
Answer: A,D
NEW QUESTION 24
Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?
- A. by allowing manual allocation of Total Transaction Price across performance obligations
- B. by restricting users from excluding contract lines
- C. by identifying and creating one or more performance obligations for a given accounting contract
- D. by only creating contracts that are source system specific
- E. by calculating Total Transaction Price for contracts
- F. by grouping source document lines intro contracts for each identified customer
Answer: A,D,F
NEW QUESTION 25
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
- B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
- C. Revenue Management can only integrate to Fusion Receivables.
- D. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
Answer: A,C
NEW QUESTION 26
You have defined 3 Contract Identification rules: Rule A, Rule B, and Rule C.
You then decide that Rule C needs to be the first rule executed when the "Identify Customer Contracts" process runs.
Which attribute needs to be updated to achieve this objective?
- A. Priority
- B. Freeze Period
- C. Source Document Type
- D. Default Classification
Answer: A
NEW QUESTION 27
When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition. Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two)
- A. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized
- B. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- C. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.
- D. Time-based contingencies must not expire before the contingency can be removed and revenue recognized
- E. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet
Answer: B,C
NEW QUESTION 28
Given It Is critical to capture common link values In one or more attributes on the source document lines in order to build effective Performance Obligation Identification Rules, how many User Extensible Fields does Revenue Management provide to facilitate the capture of this data?
- A. 90 User Extensible Fields
- B. 60 User Extensible Fields
- C. 10 User Extensible Fields
- D. 50 User Extensible Fields
Answer: C
NEW QUESTION 29
Which three tasks are associated with defining a Pricing Dimension Structure?
- A. Analyze pricing policies across products and services.
- B. Define up to 30 segments and name them.
- C. Assign required segment labels to each segment.
- D. Define up to 20 segments and name them.
- E. Create multiple instances for a given Pricing Dimension Structure.
- F. Include user friendly prompts for each segment.
Answer: A,B,C
NEW QUESTION 30
Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?
- A. Standalone Selling Prices Allocated
- B. Revenue Recognized
- C. Performance Obligation Billed
- D. Performance Obligation Satisfied
- E. Initial Performance
Answer: B,D,E
NEW QUESTION 31
In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.
Which two are NOT included in the four step process?
- A. Run the Calculate Observed Standalone Selling Prices program.
- B. Close the previous period.
- C. Run Create Accounting.
- D. Review the calculated OSSP.
- E. Approve the OSSP by establishing it.
- F. Categorize standalone sales by performance obligation.
Answer: A,F
NEW QUESTION 32
You define a Performance Obligation Identification Rule that uses the following matching attribute to group source document lines:
Extensible Line Character Attribute 7
Based on the data displayed:
How many performance obligations will be created In Revenue Management?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION 33
A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?
- A. Define an adhoc rule in the Revenue Price Profile to include the toaster.
- B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.
- C. Ignore the performance obligation for the toaster because it was free of cost to the customer.
- D. Create the performance obligation for the toaster manually.
Answer: B
NEW QUESTION 34
Revenue Management integrates with the Subledger Accounting application. Which three services does Subledger Accounting provide to Revenue Management?
- A. multiple accounting representations
- B. General Ledger account derivation based on predefined events
- C. revaluation of assets and liabilities
- D. centralized accounting solution
- E. stand-alone selling price derivation
- F. General Ledger journal creation
Answer: A,C,F
NEW QUESTION 35
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 Contact Identification Rule.
- B. By defining a Performance Obligation Template.
- C. By defining a Standalone Selling Price Profile.
- D. By defining a Revenue Item Group
Answer: D
NEW QUESTION 36
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