2022 Updated Verified Pass 1Z0-1059-21 Exam - Real Questions and Answers
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NEW QUESTION 21
Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?
- A. If nonexistent, these accounts need to be added to the chart of accounts.
- B. These accounts are optional in Revenue Management.
- C. These accounts are not relevant to Revenue Management.
- D. If nonexistent, these accounts are added automatically to the chart of accounts.
Answer: D
NEW QUESTION 22
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
- B. Revenue Management can only integrate to Fusion Receivables.
- C. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
- D. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
Answer: B,C
NEW QUESTION 23
What is a contract modification?
- A. a change to the contract caused by negotiation with the customer
- B. a change (modification) to the contract data
- C. a revision or correction to the estimate of variable consideration made at inception
- D. an increase or decrease in expected collectability
Answer: A
NEW QUESTION 24
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 Source Data Import
- B. Customer Contract Source Documents Import
- C. Customer Contract Source Data Import
- D. Customer Sales Data Source Documents Import
Answer: C
NEW QUESTION 25
Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?
- A. creates customer contracts and performance obligations
- B. allocates the SSP to various performance obligations
- C. creates the accounting for the stages in the process
- D. recognizes revenue if any satisfaction events exist
- E. allocates the SSP to various satisfaction events
Answer: C
NEW QUESTION 26
The Customer Contract Source Data Import Template contains three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively.
What data Is captured In the "Customer Contract Source Document Sub Lines" tab (VRM_SOURCE_DOC_SUB_LINES table)?
- A. Sub contract level details.
- B. Sales order header level data.
- C. Sales order line level data.
- D. Performance obligation satisfaction event details.
Answer: D
NEW QUESTION 27
Which, when transferred to a customer, allows you to recognize revenue?
- A. promise detail
- B. a performance obligation
- C. an invoice
- D. a shipment
Answer: B
NEW QUESTION 28
Why are Source Document Type Codes required when defining Source Document Types?
- A. Because they are needed for integration with Product Management.
- B. Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.
- C. Because they provide uniqueness to the Source Document Types.
- D. Because they are Revenue Management Descriptive Flexfields.
Answer: A
NEW QUESTION 29
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Items
- B. Contract Identification Rules
- C. Pricing Dimension Segments
- D. Source Document Types
Answer: D
NEW QUESTION 30
What is a Performance Obligation?
- A. a combination of customer type and product code
- B. a promise to a customer on which either party has acted
- C. a product code or SKU
- D. a promise to a customer
Answer: D
NEW QUESTION 31
Revenue Management integrates with the Subledger Accounting application. Which three services does Subledger Accounting provide to Revenue Management?
- A. centralized accounting solution
- B. stand-alone selling price derivation
- C. General Ledger account derivation based on predefined events
- D. General Ledger journal creation
- E. revaluation of assets and liabilities
- F. multiple accounting representations
Answer: D,E,F
NEW QUESTION 32
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. 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.
- 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. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
- E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized
Answer: B,D
NEW QUESTION 33
Why Is Satisfaction Method a key element of a Performance Obligation?
- A. because it calculates the percentage of Total Transaction Price allocated to date
- B. because it calculates the amount of Total Transaction Price allocated to date
- C. because it determines whether revenue for a good or service is recognized Over Time or Point in Time
- D. because it specifies whether revenue has been fully or partially recognized for a good or service
Answer: C
NEW QUESTION 34
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. whether Dynamic Combination Creation Allowed is enabled
- B. the Displayed option
- C. the Query Required option
- D. the value sets
- E. the shape: Same number of segments and order
Answer: A,E
NEW QUESTION 35
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: C
NEW QUESTION 36
What does the creation of an allocation allow you to determine?
- A. the maximum amount of revenue you can recognize soonest, postponing the minimum until later
- B. an allocation of the expected consideration over the performance obligations as if you had sold them separately
- C. the ability not to revise previously reported revenue for revision, corrections, and other changes
- D. the fair value of each performance obligation
Answer: D
NEW QUESTION 37
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