1Z0-1059-20 Exam Training Practice Tests (Oracle Revenue Management Cloud Service 2020 Implementation Essentials)]

Question 1

What is the correct match sequence of the descriptions A, B and C against the titles?

A. C, B, A B. C, A, B C. A, B, C D. B, A, C E. B, C, A F. A, C, B

Correct Answer: D

Question 2

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 grouping source document lines intro contracts for each identified customer C. by allowing manual allocation of Total Transaction Price across performance obligations D. by identifying and creating one or more performance obligations for a given accounting contract E. by restricting users from excluding contract lines F. by calculating Total Transaction Price for contracts

Correct Answer: A,B,C

Question 3

The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?

A. Oracle General Ledger B. Oracle Revenue Management Cloud C. Oracle Receivables D. Oracle Subledger Accounting

Correct Answer: B,D

Question 4

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. Set the System Options in EBS Receivables on the Revenue Management tab. C. Map the EBS Chart of Accounts to the Cloud General Ledger. D. Run the Deploy System Options process. E. Set the Profile Option AR: Source System Value for Revenue Management.

Correct Answer: C,D

Question 5

Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?

A. your invoiced goods and services less those goods and services that you have not yet delivered B. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered C. your debt to customers for goods and services you are obliged to deliver to them by either party acting D. Unearned Revenue

Correct Answer: C

Question 6

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

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

Correct Answer: B

Question 7

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

A. Inverted Allocation Method B. Two Step Allocation Method C. Residual Allocation Method D. Alternative Allocation Method E. Relative Allocation Method

Correct Answer: B

Question 8

Given your organization's Interactions with one of Its customers:
* A consultant is deployed to assist customer on 10-Sep-2017.
* A Sales order is booked on 14-Sep-2017.
* The Product is shipped on 15-Sep-2017.
* An Invoice is issued on 20-Sep-2017.
When do you accrue the contract liability?

A. when an invoice is issued on 20-Sep-2017 B. when the sales order Is booked on 14-Sep-2017 C. when the consultant is deployed to assist customer on 10-Sep-2017 D. when the product is shipped on 15-Sep-2017

Correct Answer: C

Oracle Revenue Management Cloud Service 2020 Implementation Essentials - 1Z0-1059-20 Exam Practice Test