[UPDATED] Oracle 1Z0-1059-24 Certification Exam Questions
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NEW QUESTION # 31
Which method is used to allocate total transaction price across performance obligations in Revenue Management?
- A. Residual Allocation Method
- B. Relative Allocation Method
- C. Two Step Allocation Method
- D. Alternative Allocation Method
- E. Inverted Allocation Method
Answer: C
NEW QUESTION # 32
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 Percentage
- B. when the Satisfaction Measurement Model is set to Quantity
- C. when the Satisfaction Measurement Model is set to Period
- D. when the Satisfaction Measurement Model is set to Amount
Answer: C
NEW QUESTION # 33
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
- A. your invoiced goods and services less those goods and services that you have not yet delivered
- B. your debt to customers for goods and services you are obliged to deliver to them by either party acting
- C. Unearned Revenue
- D. 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
Answer: B
NEW QUESTION # 34
Which three statements about Effective Periods are true?
- A. Effective Periods only define the rage where standalone selling prices of an item should be effective.
- B. You cannot have overlapping periods.
- C. If effective periods are not defined. Revenue Management uses the General Ledger calendar.
- D. Effective Periods are used for standalone selling prices and for creating journal entries.
- E. Gaps between periods are not allowed.
Answer: A,B,D
NEW QUESTION # 35
Which is a term under ASC 606 or IFRS 15?
- A. promise detail
- B. transaction price
- C. initial performance event
- D. requires complete
Answer: B
NEW QUESTION # 36
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. Revenue Recognized
- B. Initial Performance
- C. Standalone Selling Prices Allocated
- D. Performance Obligation Billed
- E. Performance Obligation Satisfied
Answer: A,B,E
NEW QUESTION # 37
Why are Source Document Type Codes required when defining Source Document Types?
- A. Because they provide uniqueness to the Source Document Types.
- B. Because they are needed for integration with Product Management.
- C. Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.
- D. Because they are Revenue Management Descriptive Flexfields.
Answer: B
NEW QUESTION # 38
Oracle Revenue Management is part of_____________________predefined offering.
- A. Enterprise Contracts
- B. Fusion Accounting Hub
- C. Financials
- D. Incentive Compensation
Answer: C
NEW QUESTION # 39
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. Navigate to the Revenue Management Work Area and enter estimated prices manually for a specific customer contract in the browser user Interface.
- B. Run the Calculate Observed Standalone Selling Prices program to derive prices.
- C. Navigate to the "Manage Standalone Selling Profiles" page and enter estimated prices manually for a given profile In the browser user Interface.
- D. Navigate to the "Manage Standalone Selling Profiles" page and download spreadsheet template to enter estimated prices manually.
- E. Load estimated process to table VRM_SOURCE_DOCUMENTS using SQL script.
- F. Use the Revenue Basis Data Import FBDI template to load unit standalone selling prices.
Answer: B,D
NEW QUESTION # 40
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 # 41
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 the consultant is deployed to assist customer on 10-Sep-2017
- B. when the sales order Is booked on 14-Sep-2017
- C. when an invoice is issued on 20-Sep-2017
- D. when the product is shipped on 15-Sep-2017
Answer: A
NEW QUESTION # 42
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 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.
- 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 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.
- D. 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.
Answer: D
NEW QUESTION # 43
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. Review the calculated OSSP.
- B. Categorize standalone sales by performance obligation.
- C. Run Create Accounting.
- D. Close the previous period.
- E. Approve the OSSP by establishing it.
- F. Run the Calculate Observed Standalone Selling Prices program.
Answer: B,F
NEW QUESTION # 44
At which level does Oracle Revenue management perform accounting?
- A. Legal entity level
- B. Contract level
- C. Performance obligation level
Answer: C
NEW QUESTION # 45
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 Write-off Allocation Account at the contract level.
- C. It tracks the difference in a Discount Allocation Account at the contract line level.
- D. It Tracks the difference in a Write-Off Allocation Account at the contract line level.
Answer: C
NEW QUESTION # 46
What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?
- A. Create a reporting ledger.
- B. Using their existing primary ledger.
- C. Create a new primary ledger.
- D. Create a secondary ledger.
Answer: B
NEW QUESTION # 47
A corporation does not have reliable historical Standalone Selling Prices stored In Its source systems. What option is available to help the corporation in this scenario?
- A. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.
- B. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.
- C. Run the Calculate Observed Standalone Selling Prices program to derive prices.
- D. Navigate to the "Manage Revenue Price Profiles" page and enter estimated prices manually in the browser user interface.
Answer: C
Explanation:
https://docs.oracle.com/cloud/farel12/financialscs_gs/OEDMF/VRM_CUSTOMER_CONTRACT_HEADERS_tbl.htm
NEW QUESTION # 48
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