1Z1-1059 by Oracle Actual Free Exam Q&As

Question 1

Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?

A. Initial Performance B. Performance Obligation Billed C. Revenue Recognized D. Standalone Selling Prices Allocated E. Performance Obligation Satisfied

Discussion 0

Correct Answer: A,C,E Vote an answer

Question 2

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. Priority B. Source Document Type C. Default Classification D. Freeze Period

Discussion 0

Correct Answer: A Vote an answer

Question 3

A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?

A. Define an adhoc rule in the Revenue Price Profile to include the toaster. B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster. C. Create the performance obligation for the toaster manually. D. Ignore the performance obligation for the toaster because it was free of cost to the customer.

Discussion 0

Correct Answer: B Vote an answer

Question 4

Which, when transferred to a customer, allows you to recognize revenue?

A. an invoice B. a performance obligation C. a shipment D. promise detail

Discussion 0

Correct Answer: B Vote an answer

Question 5

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 Context Values are populated B. when the Deferred Revenue box is checked C. when the Type is Fixed or Variable D. when it is a business requirement

Discussion 0

Correct Answer: C Vote an answer

Question 6

What does a Variable Consideration require?

A. that the consideration be monetary B. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized C. a disclosure be made to the shareholders D. an estimate of the consideration be made at inception only

Discussion 0

Correct Answer: D Vote an answer

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Question 7

Why Is Satisfaction Method a key element of a Performance Obligation?

A. because it calculates the amount of Total Transaction Price allocated to date B. because it calculates the percentage of Total Transaction Price allocated to date C. because it specifies whether revenue has been fully or partially recognized for a good or service D. because it determines whether revenue for a good or service is recognized Over Time or Point in Time

Discussion 0

Correct Answer: D Vote an answer

Question 8

Which setup component Is NOT connected to a Revenue Price Profile?

A. Pricing Dimension Segments B. Contract Identification Rules C. Items D. Source Document Types

Discussion 0

Correct Answer: D Vote an answer

Oracle Revenue Management Cloud 2019 Implementation Essentials - 1Z1-1059 Exam Practice Test