[Jan-2022] 1Z0-1059-21 Braindumps – 1Z0-1059-21 Questions to Get Better Grades
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Oracle 1Z0-1059-21 Exam Syllabus Topics:
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NEW QUESTION 33
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 34
Oracle Revenue Management is part of_____________________predefined offering.
- A. Incentive Compensation
- B. Fusion Accounting Hub
- C. Financials
- D. Enterprise Contracts
Answer: C
NEW QUESTION 35
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 36
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 37
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Contract Identification Rules
- B. Pricing Dimension Segments
- C. Source Document Types
- D. Items
Answer: C
NEW QUESTION 38
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 39
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. an estimate of the consideration be made at inception only
- C. a disclosure be made to the shareholders
- D. that the consideration be monetary
Answer: B
NEW QUESTION 40
The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill.......
What is the difference between Selling Amount and Allocated Amount?
- A. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amount. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.
- B. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculation. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.
- C. The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document upload. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.
- D. The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amount. The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.
Answer: C
NEW QUESTION 41
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 42
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 Line
- B. Identify Customer Contract Based on Source Document
- C. Identify Customer Contract Based on Party
- D. Identify Customer Contract Based on Source System
Answer: B
NEW QUESTION 43
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 the Deferred Revenue box is checked
- C. when it is a business requirement
- D. when Context Values are populated
Answer: A
NEW QUESTION 44
Which configuration component is Source Document Type NOT connected to?
- A. Performance Obligation Identification Rules
- B. Revenue Management System Options
- C. Revenue Price Profile
- D. Contract Identification Rules
- E. Performance Obligation Template
Answer: C
NEW QUESTION 45
Which three attributes are helpful in defining a Contract Identification Rule?
- A. Quote Number
- B. Business Unit
- C. Product Description
- D. Ledger
- E. Delivery Address
- F. Bill To Customer
Answer: A,C,E
NEW QUESTION 46
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?
- A. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
- B. Expected consideration value is applicable to all industries.
- C. Pricing estimates cannot be used In the absence of pricing data.
- D. Revenue and performance obligation liabilities are not dependent on billing.
Answer: B,C
NEW QUESTION 47
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 48
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 49
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
- A. your debt to customers for goods and services you are obliged to deliver to them by either party acting
- B. Unearned Revenue
- C. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered
- D. your invoiced goods and services less those goods and services that you have not yet delivered
Answer: A
NEW QUESTION 50
Your customer ships machines, and can recognize revenue for each machine after the machine has been delivered to a customer without waiting for complete satisfaction of an entire performance obligation. How would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for these performance obligations at a point in time?
- A. by setting SM to "Allow Partial" and SMM to "Quantity"
- B. by setting SM to "Allow Partial" and SMM to "Period"
- C. by setting SM to "Requires Complete" and SMM to "Quantity"
- D. by setting SM to "Requires Complete" and SMM to "Period"
- E. by setting SM to "Requires Complete" and SMM to "Percent"
Answer: D
NEW QUESTION 51
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