1Z0-1059-21 Dumps Updated Nov 19, 2021 Practice Test and 82 unique questions
2021 Latest 100% Exam Passing Ratio - 1Z0-1059-21 Dumps PDF
NEW QUESTION 38
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. Map the EBS Chart of Accounts to the Cloud General Ledger.
- B. Run the Deploy System Options process.
- C. Set the System Options in EBS Receivables on the Revenue Management tab.
- D. Apply appropriate patches to EBS.
- E. Set the Profile Option AR: Source System Value for Revenue Management.
Answer: A,B
NEW QUESTION 39
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 Amount
- C. when the Satisfaction Measurement Model is set to Period
- D. when the Satisfaction Measurement Model Is set to Percentage
Answer: C
NEW QUESTION 40
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 41
The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition.
What would cause a contract to be In the Pending Review tab?
- A. The contract is missing standalone selling prices at the promised detail level or at obligation level.
- B. The contract is missing Billing data.
- C. The contract is missing satisfaction events.
- D. The total Transaction Price is over the user-defined threshold amount.
Answer: D
Explanation:
Accounting contracts with a total transaction price that is greater than the user-defined threshold amount you defined in your system options. Contracts in this list are significant value contracts.
NEW QUESTION 42
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 43
One way to upload customer contract data from a source system is through File Based Data Import (FBDI) using a spreadsheet template provided by Revenue Management.
What is the name of this spreadsheet template?
- A. Customer Sales Data Source Documents Import
- B. Customer Contract Source Data Import
- C. Customer Sales Source Data Import
- D. Customer Contract Source Documents Import
Answer: B
NEW QUESTION 44
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 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
Which is NOT a predefined Accounting Class for Revenue Management?
- A. Contract Discount
- B. Contract Unearned Revenue
- C. Contract Asset
- D. Contract Liability
Answer: B
NEW QUESTION 47
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 48
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 49
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 50
Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
- A. allow partial
- B. require partial
- C. require complete
- D. allow complete
Answer: A,C
NEW QUESTION 51
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 52
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 53
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