1Z0-1059 Online Practice Questions and Answers

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 "Requires Complete" 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 "Percent"

E. by setting SM to "Allow Partial" and SMM to "Period"

What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

A. Revenue and performance obligation liabilities are not dependent on billing.

B. Revenue can be recognized for performance obligations only using the "Point in Time" approach.

C. Pricing estimates cannot be used In the absence of pricing data.

D. Expected consideration value is applicable to all industries.

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. Apply appropriate patches to EBS.

B. Run the Deploy System Options process.

C. Set the Profile Option AR: Source System Value for Revenue Management.

D. Map the EBS Chart of Accounts to the Cloud General Ledger.

E. Set the System Options in EBS Receivables on the Revenue Management tab.

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 Contract Source Documents Import

B. Customer Sales Source Data Import

C. Customer Contract Source Data Import

D. Customer Sales Data Source Documents Import

Given It Is critical to capture common link values In one or more attributes on the source document lines in order to build effective Performance Obligation Identification Rules, how many User Extensible Fields does Revenue Management provide to facilitate the capture of this data?

A. 60 User Extensible Fields

B. 10 User Extensible Fields

C. 90 User Extensible Fields

D. 50 User Extensible Fields

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.

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. Close the previous period.

B. Review the calculated OSSP.

C. Categorize standalone sales by performance obligation.

D. Approve the OSSP by establishing it.

E. Run the Calculate Observed Standalone Selling Prices program.

F. Run Create Accounting.

After defining a pricing dimension structure for a customer, you must define a pricing dimension structure instance. Which two attributes on the structure instance are inherited from the structure definition?

A. Wether Dynamic Combination Creation Allowed is enabled

B. The value sets

C. The Query Required option

D. The Displayed option

E. The shape: Same nunmber of segments and order

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 three statements about Effective Periods are true?

A. If effective periods are not defined, Revenue Management uses the General Ledger calendar.

B. Effective Periods are used for standalone selling prices and for creating journal entries.

C. Gaps between periods are not allowed

D. You cannot have overlapping periods.

E. Effective Periods only define the rage where standalone selling prices of an item should be effective.