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Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam cost is 150 USD.
NEW QUESTION 41
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 determines whether revenue for a good or service is recognized Over Time or Point in Time
- C. because it specifies whether revenue has been fully or partially recognized for a good or service
- D. because it calculates the amount of Total Transaction Price allocated to date
Answer: B
NEW QUESTION 42
Your organization Is selling a warranty plan to customers that covers appliances for one year. Revenue must be recognized gradually by month until the warranty expires.
Which Revenue Scheduling Rule Type needs to be defined for the Performance Satisfaction Plan?
- A. Daily Revenue Rate
- B. Fixed Schedule
- C. Partial Schedule
- D. Daily Revenue Rate, All Periods
- E. Daily Revenue Rate, Partial Periods
- F. Variable Schedule
Answer: B
NEW QUESTION 43
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 44
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. 90 User Extensible Fields
- B. 60 User Extensible Fields
- C. 10 User Extensible Fields
- D. 50 User Extensible Fields
Answer: C
NEW QUESTION 45
Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?
- A. allocates the SSP to various satisfaction events
- B. creates the accounting for the stages in the process
- C. creates customer contracts and performance obligations
- D. allocates the SSP to various performance obligations
- E. recognizes revenue if any satisfaction events exist
Answer: B
NEW QUESTION 46
Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?
- A. by only creating contracts that are source system specific
- B. by restricting users from excluding contract lines
- C. by allowing manual allocation of Total Transaction Price across performance obligations
- D. by calculating Total Transaction Price for contracts
- E. by grouping source document lines intro contracts for each identified customer
- F. by identifying and creating one or more performance obligations for a given accounting contract
Answer: A,C,E
NEW QUESTION 47
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 satisfaction events.
- B. The contract is missing Billing data.
- C. The total Transaction Price is over the user-defined threshold amount.
- D. The contract is missing standalone selling prices at the promised detail level or at obligation level.
Answer: C
Explanation:
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 48
What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?
- A. Using their existing primary ledger.
- B. Create a new primary ledger.
- C. Create a reporting ledger.
- D. Create a secondary ledger.
Answer: A
NEW QUESTION 49
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 Period
- C. when the Satisfaction Measurement Model is set to Amount
- D. when the Satisfaction Measurement Model Is set to Percentage
Answer: B
NEW QUESTION 50
A corporation uses a pricing policy that considers deal size to calculate price per unit for its products. For example:
Which Price Band Segment Label would be appropriate to use in this case?
- A. Set Band
- B. Deal Size Band
- C. Amount Band
- D. Quantity Band
Answer: C
NEW QUESTION 51
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 Query Required option
- C. the value sets
- D. the shape: Same number of segments and order
- E. the Displayed option
Answer: A,D
NEW QUESTION 52 
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
- B. You can add up to 5 Transaction Sources as part of your integration with 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. Revenue Management can only integrate to Fusion Receivables.
Answer: C,D
NEW QUESTION 53
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 "Period"
- B. by setting SM to "Allow Partial" and SMM to "Quantity"
- C. by setting SM to "Requires Complete" and SMM to "Period"
- D. by setting SM to "Requires Complete" and SMM to "Quantity"
- E. by setting SM to "Requires Complete" and SMM to "Percent"
Answer: C
NEW QUESTION 54
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?
- A. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
- B. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
- C. 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.
- D. You value the accrual at estimated consideration and it is a monetary debt.
- E. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
Answer: C
NEW QUESTION 55
Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?
- A. when a source document type is enabled to use pricing bands
- B. when a value set segment label of Set Band is used
- C. when a pricing dimension structure is enabled for pricing bands
- D. when a pricing dimension structure Instance Is enabled for pricing bands
Answer: C
NEW QUESTION 56
What is a Performance Obligation?
- A. a product code or SKU
- B. a promise to a customer on which either party has acted
- C. a promise to a customer
- D. a combination of customer type and product code
Answer: C
Explanation:
Explanation
https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP2456627
NEW QUESTION 57
A pricing dimension segment value combination is one of the factors to determine standalone selling prices.
This combination is based on the pricing dimension assignment setup.
What does the pricing dimension assignment match the pricing dimension segment combination to?
- A. the source document types
- B. pricing bands
- C. a pricing dimension structure
- D. a pricing dimension structure instance
Answer: B
NEW QUESTION 58
Which statement Is True regarding the Customer Contract Source Data Import Template?
- A. It is a predefined Java FBDI template.
- B. It is a custom template that you are required to build.
- C. It is a predefined Excel FBDI template.
- D. It Is a predefined HTML FBDI template.
Answer: C
NEW QUESTION 59
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS
15 versus the old standard?
- A. Expected consideration value is applicable to all industries.
- B. Revenue and performance obligation liabilities are not dependent on billing.
- C. Pricing estimates cannot be used In the absence of pricing data.
- D. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
Answer: A,C
NEW QUESTION 60
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 Type is Fixed or Variable
- B. when Context Values are populated
- C. when it is a business requirement
- D. when the Deferred Revenue box is checked
Answer: A
NEW QUESTION 61
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:
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 62
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. Source Document Type
- B. Priority
- C. Freeze Period
- D. Default Classification
Answer: B
NEW QUESTION 63
Which three attributes are helpful in defining a Contract Identification Rule?
- A. Ledger
- B. Bill To Customer
- C. Delivery Address
- D. Business Unit
- E. Quote Number
- F. Product Description
Answer: C,E,F
NEW QUESTION 64
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