1Z0-1059-20 Online Practice Questions and Answers

What is the correct match sequence of the descriptions A, B and C against the titles?

A. B, C, A

B. A, C, B

C. C, B, A

D. C, A, B

E. A, B, C

F. B, A, C

Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

A. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.

B. You value the accrual at estimated consideration and it is a monetary debt.

C. You book the invoiced amount to the PandL when you meet the regulatory definition by Industry.

D. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

E. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

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. Time-based contingencies must not expire before the contingency can be removed and revenue recognized

C. 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

D. 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.

E. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

How many tabs does the Customer Contract Source Data Import Template have?

A. four tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, and VRM_PERF_OBLIG tables respectively

B. three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively

C. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively

D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table

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 line 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 level.

D. It Tracks the difference in a Write-Off Allocation Account at the contract line level.

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 enter estimated prices manually in the browser user interface.

B. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.

C. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.

D. Run the Calculate Observed Standalone Selling Prices program to derive prices.

Oracle Revenue Management is part of_____________________predefined offering.

A. Enterprise Contracts

B. Fusion Accounting Hub

C. Incentive Compensation

D. Financials

Why Is Satisfaction Method a key element of a Performance Obligation?

A. because it determines whether revenue for a good or service is recognized Over Time or Point in Time

B. because it calculates the amount of Total Transaction Price allocated to date

C. because it calculates the percentage of Total Transaction Price allocated to date

D. because it specifies whether revenue has been fully or partially recognized for a good or service

Which two are intended uses for the Standalone Selling Price Report Dashboard?

A. Review performance obligations by effective period.

B. Diagnose revenue price profile.

C. Drill down to data used to derive standalone selling prices.

D. Monitor transaction price calculation and allocation.

E. Analyze standalone selling prices for one or multiple effective periods.

Which, when transferred to a customer, allows you to recognize revenue?

A. a shipment

B. a performance obligation

C. an invoice

D. promise detail