1Z0-1059-22 Online Practice Questions and Answers

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 Timeor 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

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 Reviewtab?

A. The total Transaction Price is over the user-defined threshold amount.

B. The contract is missing standalone selling prices at the promised detail level or at obligation level.

C. The contract is missing satisfaction events.

D. The contract ismissing Billing data.

Which three tasks are associated with defining a Pricing Dimension Structure?

A. Define up to 30 segments and name them.

B. Define up to 20 segments and name them.

C. Analyze pricing policies across products and services.

D. Createmultiple instances for a given Pricing Dimension Structure.

E. Include user friendly prompts for each segment.

F. Assign required segment labels to each segment.

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 notyet delivered

B. 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

C. Unearned Revenue

D. your debt to customers for goods and services you are obliged to deliver to them by either party acting

What is the correct match sequence of the descriptions A, B andC 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

A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals,allocations,

and creates accounting in the ledger currency.

What needs to be done in Revenue Management to convert transaction amounts to the USD currency?

A. Create source document types specifically for Euro documents.

B. Populate exchange rates in Revenue Price Profile.

C. Populate Conversion Rate Type in System Options.

D. Create revenue prices in the Euro currency.

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" processruns. Which attribute needs to be updated to achieve this objective?

A. Freeze Period

B. Default Classification

C. Source Document Type

D. Priority

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

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 Deferred Revenue box is checked

B. when it is a business requirement

C. when Context Values are populated

D. when the Type is Fixed or Variable

What does a Variable Consideration require?

A. an estimate of the considerationbe made at inception only

B. that the consideration be monetary

C. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized

D. a disclosure be made to the shareholders