Updated Dec-2021 Test Engine to Practice 1Z0-1059-21 Test Questions
1Z0-1059-21 Real Exam Questions Test Engine Dumps Training With 82 Questions
Oracle 1Z0-1059-21 Exam Syllabus Topics:
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NEW QUESTION 44
A corporation does not have historical Standalone Selling Prices stored in Revenue Management. Which two options are available to help the corporation establish Standalone Selling Prices?
- A. Run the Calculate Observed Standalone Selling Prices program to derive prices.
- B. Navigate to the Revenue Management Work Area and enter estimated prices manually for a specific customer contract in the browser user Interface.
- C. Navigate to the "Manage Standalone Selling Profiles" page and download spreadsheet template to enter estimated prices manually.
- D. Load estimated process to table VRM_SOURCE_DOCUMENTS using SQL script.
- E. Use the Revenue Basis Data Import FBDI template to load unit standalone selling prices.
- F. Navigate to the "Manage Standalone Selling Profiles" page and enter estimated prices manually for a given profile In the browser user Interface.
Answer: A,C
NEW QUESTION 45
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. Daily Revenue Rate
- B. Fixed Schedule
- C. Partial Schedule
- D. Daily Revenue Rate, All Periods
- E. Daily Revenue Rate, Partial Periods
- F. Variable Schedule
Answer: B
NEW QUESTION 46
Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?
- A. These accounts are not relevant to Revenue Management.
- B. If nonexistent, these accounts are added automatically to the chart of accounts.
- C. These accounts are optional in Revenue Management.
- D. If nonexistent, these accounts need to be added to the chart of accounts.
Answer: B
NEW QUESTION 47
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 the Type is Fixed or Variable
- B. when Context Values are populated
- C. when it is a business requirement
- D. when the Deferred Revenue box is checked
Answer: A
NEW QUESTION 48
Given the Standalone Selling Price Profile combines all the key setup attributes of pricing Into one place, you create all standalone selling prices from the Standalone Selling Price Profiles for all Items or groups of items.
Which three setup attributes are part of a Standalone Selling Price Profile?
- A. SSP Tolerance Usage
- B. Estimated Standalone Selling Prices
- C. Observed Standalone Selling Prices
- D. Pricing Dimension Assignment
- E. Items
Answer: B,C,D
NEW QUESTION 49
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Inverted Allocation Method
- B. Alternative Allocation Method
- C. Relative Allocation Method
- D. Two Step Allocation Method
- E. Residual Allocation Method
Answer: D
NEW QUESTION 50
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 Standalone Selling Price Profile.
- B. By defining a Contact Identification Rule.
- C. By defining a Revenue Item Group
- D. By defining a Performance Obligation Template.
Answer: C
NEW QUESTION 51
What does the creation of an allocation allow you to determine?
- A. the maximum amount of revenue you can recognize soonest, postponing the minimum until later
- B. the fair value of each performance obligation
- C. the ability not to revise previously reported revenue for revision, corrections, and other changes
- D. an allocation of the expected consideration over the performance obligations as if you had sold them separately
Answer: B
NEW QUESTION 52
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Source Document Types
- B. Contract Identification Rules
- C. Pricing Dimension Segments
- D. Items
Answer: A
NEW QUESTION 53
Given Oracle Revenue Management Cloud has predefined integration with Oracle E-Business Suite Financials, which two steps are NOT part of the steps to configure EBS for integration with Revenue Management Cloud?
- A. Set the System Options in EBS Receivables on the Revenue Management tab.
- B. Run the Deploy System Options process.
- C. Set the Profile Option AR: Source System Value for Revenue Management.
- D. Map the EBS Chart of Accounts to the Cloud General Ledger.
- E. Apply appropriate patches to EBS.
Answer: B,D
NEW QUESTION 54
In Revenue Management the Selling Amount and Allocated Amount may be different. How does Revenue Management account for this difference?
- A. It tracks the difference In a Discount Allocation Account at the contract level.
- B. It tracks the difference in a Discount Allocation Account at the contract line level.
- C. It Tracks the difference in a Write-Off Allocation Account at the contract line level.
- D. It tracks the difference in a Write-off Allocation Account at the contract level.
Answer: B
NEW QUESTION 55
Which is a term under ASC 606 or IFRS 15?
- A. requires complete
- B. initial performance event
- C. transaction price
- D. promise detail
Answer: C
NEW QUESTION 56
Revenue Management integrates with the Subledger Accounting application. Which three services does Subledger Accounting provide to Revenue Management?
- A. stand-alone selling price derivation
- B. multiple accounting representations
- C. General Ledger journal creation
- D. revaluation of assets and liabilities
- E. centralized accounting solution
- F. General Ledger account derivation based on predefined events
Answer: B,C,D
NEW QUESTION 57
What is a Standalone Selling Price (SSP)?
- A. the list price
- B. the price you would use if you sold to a customer separately
- C. the sum of the SSPs of the components
- D. the average of your bundled price
Answer: B
NEW QUESTION 58
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: D
NEW QUESTION 59
Why Is Satisfaction Method a key element of a Performance Obligation?
- A. because it calculates the percentage of Total Transaction Price allocated to date
- B. because it determines whether revenue for a good or service is recognized Over Time or Point in Time
- C. because it specifies whether revenue has been fully or partially recognized for a good or service
- D. because it calculates the amount of Total Transaction Price allocated to date
Answer: B
NEW QUESTION 60
When is it required to populate a value for Performance Satisfaction Plan In a Source Document Type?
- A. when the Satisfaction Measurement Model is set to Quantity
- B. when the Satisfaction Measurement Model is set to Period
- C. when the Satisfaction Measurement Model is set to Amount
- D. when the Satisfaction Measurement Model Is set to Percentage
Answer: B
NEW QUESTION 61
Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?
- A. when a source document type is enabled to use pricing bands
- B. when a value set segment label of Set Band is used
- C. when a pricing dimension structure is enabled for pricing bands
- D. when a pricing dimension structure Instance Is enabled for pricing bands
Answer: C
NEW QUESTION 62
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 Party
- D. Identify Customer Contract Based on Source Document Line
Answer: A
NEW QUESTION 63
You define a Contract Identification Rule that uses the following source document attributes to match transaction lines:
Bill-to Customer Party Identifier
Extensible Header Character Attribute 4
Based the data displayed:
How many contracts will be created In Revenue Management?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: E
NEW QUESTION 64
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?
- A. Expected consideration value is applicable to all industries.
- B. Revenue and performance obligation liabilities are not dependent on billing.
- C. Pricing estimates cannot be used In the absence of pricing data.
- D. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
Answer: A,C
NEW QUESTION 65
Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
- A. require partial
- B. allow complete
- C. allow partial
- D. require complete
Answer: C,D
NEW QUESTION 66
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. 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.
- C. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
- D. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts Ul.
- E. Delete the source data that was imported into Revenue Management and import new source data.
Answer: B
NEW QUESTION 67
Revenue tracks several amounts associated to a customer contract, for example, selling amount, allocated amount, and billed amount. What is allocated amount?
- A. stand-alone selling price assigned to the promised detail line
- B. transaction price distributed to each performance obligation
- C. transaction price derived from the source system line import
- D. revenue recognized for each performance obligation
Answer: B
NEW QUESTION 68
Which is NOT a Price Band Type?
- A. Set Band
- B. Percentage Band
- C. Amount Band
- D. Quantity Band
Answer: B
NEW QUESTION 69
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