1Z0-1059-21 Practice Test Questions Updated 82 Questions
Oracle 1Z0-1059-21 Dumps - Secret To Pass in First Attempt
NEW QUESTION 11
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 only define the rage where standalone selling prices of an item should be effective.
- C. Gaps between periods are not allowed.
- D. You cannot have overlapping periods.
- E. Effective Periods are used for standalone selling prices and for creating journal entries.
Answer: B,D,E
NEW QUESTION 12
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 revenue prices in the Euro currency.
- B. Create source document types specifically for Euro documents.
- C. Populate Conversion Rate Type in System Options.
- D. Populate exchange rates in Revenue Price Profile.
Answer: C
Explanation:
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM2371348
NEW QUESTION 13
How many tabs does the Customer Contract Source Data Import Template have?
- A. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES 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. 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 - D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table
Answer: B
Explanation:
You can import source transactions using the Customer Contract Source Data Import process. Customer Contract Source Data Import uses three interface tables--one parent table and two child tables--to represent source documents, source document lines, and source document sub-lines. The parent table, VRM_SOURCE_DOCUMENTS contains the source document information. The child tables contain the following information for a given interface line record: VRM_SOURCE_DOC_LINES contains source document line details; VRM_SOURCE_DOC_SUB_LINES contains source document sub line details
NEW QUESTION 14
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. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.
- B. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.
- C. Run the Calculate Observed Standalone Selling Prices program to derive prices.
- D. Navigate to the "Manage Revenue Price Profiles" page and enter estimated prices manually in the browser user interface.
Answer: C
NEW QUESTION 15
What is the correct match sequence of the descriptions A, B and C against the titles?
- A. A, B, C
- B. C, A, B
- C. B, C, A
- D. A, C, B
- E. C, B, A
- F. B, A, C
Answer: F
NEW QUESTION 16
Oracle Revenue Management is part of_____________________predefined offering.
- A. Financials
- B. Fusion Accounting Hub
- C. Incentive Compensation
- D. Enterprise Contracts
Answer: A
NEW QUESTION 17
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 18
A Corporation has a business requirement to build a custom Revenue Management report that users could run from the Scheduled Processes page.
Which reporting tool must be used to address this business requirement?
- A. Business Intelligence Publisher
- B. Smart View
- C. Reporting Studio
- D. Oracle Transactional Business Intelligence
Answer: A
NEW QUESTION 19
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. Pricing estimates cannot be used In the absence of pricing data.
- C. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
- D. Revenue and performance obligation liabilities are not dependent on billing.
Answer: A,B
NEW QUESTION 20
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. The shape: Same nunmber of segments and order
- B. The Displayed option
- C. Wether Dynamic Combination Creation Allowed is enabled
- D. The value sets
- E. The Query Required option
Answer: A,D
NEW QUESTION 21
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?
- A. You value the accrual at estimated consideration and it is a monetary debt.
- B. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
- C. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
- D. 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.
- E. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
Answer: D
NEW QUESTION 22
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 Context Values are populated
- C. when it is a business requirement
- D. when the Type is Fixed or Variable
Answer: D
NEW QUESTION 23
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. Amount Band
- B. Deal Size Band
- C. Set Band
- D. Quantity Band
Answer: A
NEW QUESTION 24
What is a Standalone Selling Price (SSP)?
- A. the average of your bundled price
- B. the list price
- C. the price you would use if you sold to a customer separately
- D. the sum of the SSPs of the components
Answer: C
NEW QUESTION 25
Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which Is NOT a predefined Accounting Class?
- A. Contract Expense
- B. Contract Liability
- C. Contract Clearing
- D. Contract Asset
- E. Contract Price Variance
- F. Contract Revenue
Answer: A
NEW QUESTION 26
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 27
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 28
Which is NOT a Price Band Type?
- A. Percentage Band
- B. Set Band
- C. Quantity Band
- D. Amount Band
Answer: A
NEW QUESTION 29
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 30
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 31
Which is a term under ASC 606 or IFRS 15?
- A. requires complete
- B. promise detail
- C. initial performance event
- D. transaction price
Answer: D
NEW QUESTION 32
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 33
Which is NOT a predefined Accounting Class for Revenue Management?
- A. Contract Discount
- B. Contract Liability
- C. Contract Asset
- D. Contract Unearned Revenue
Answer: D
NEW QUESTION 34
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. Variable Schedule
- B. Daily Revenue Rate, All Periods
- C. Partial Schedule
- D. Fixed Schedule
- E. Daily Revenue Rate
- F. Daily Revenue Rate, Partial Periods
Answer: D
NEW QUESTION 35
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