[Oct 22, 2021] 1Z0-1059-21 Ultimate Study Guide - TorrentValid
Ultimate Guide to Prepare 1Z0-1059-21 Certification Exam for Oracle Cloud in 2021
NEW QUESTION 31
What is a Standalone Selling Price (SSP)?
- A. the list price
- B. the price you would use if you sold to a customer separately
- C. the sum of the SSPs of the components
- D. the average of your bundled price
Answer: B
NEW QUESTION 32
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, Partial Periods
- B. Partial Schedule
- C. Daily Revenue Rate, All Periods
- D. Variable Schedule
- E. Daily Revenue Rate
- F. Fixed Schedule
Answer: F
NEW QUESTION 33
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 calculates the percentage 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 calculates the amount of Total Transaction Price allocated to date
Answer: C
NEW QUESTION 34
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
- A. Oracle Receivables
- B. Oracle Subledger Accounting
- C. Oracle Revenue Management Cloud
- D. Oracle General Ledger
Answer: B,C
NEW QUESTION 35
What does a Variable Consideration require?
- A. a disclosure be made to the shareholders
- B. an estimate of the consideration be made at inception only
- C. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized
- D. that the consideration be monetary
Answer: B
NEW QUESTION 36
Which configuration component is Source Document Type NOT connected to?
- A. Revenue Management System Options
- B. Performance Obligation Template
- C. Revenue Price Profile
- D. Performance Obligation Identification Rules
- E. Contract Identification Rules
Answer: C
NEW QUESTION 37
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 "Requires Complete" and SMM to "Percent"
- B. by setting SM to "Requires Complete" and SMM to "Period"
- C. by setting SM to "Allow Partial" and SMM to "Period"
- D. by setting SM to "Requires Complete" and SMM to "Quantity"
- E. by setting SM to "Allow Partial" and SMM to "Quantity"
Answer: B
NEW QUESTION 38
Which setup component Is NOT connected to a Revenue Price Profile?
- A. Items
- B. Pricing Dimension Segments
- C. Contract Identification Rules
- D. Source Document Types
Answer: D
NEW QUESTION 39
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. 60 User Extensible Fields
- B. 50 User Extensible Fields
- C. 10 User Extensible Fields
- D. 90 User Extensible Fields
Answer: C
NEW QUESTION 40
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 the product is shipped on 15-Sep-2017
- B. when the sales order Is booked on 14-Sep-2017
- C. when an invoice is issued on 20-Sep-2017
- D. when the consultant is deployed to assist customer on 10-Sep-2017
Answer: D
NEW QUESTION 41
Revenue tracks several amounts associated to a customer contract, for example, selling amount, allocated amount, and billed amount. What is allocated amount?
- A. transaction price distributed to each performance obligation
- B. revenue recognized for each performance obligation
- C. transaction price derived from the source system line import
- D. stand-alone selling price assigned to the promised detail line
Answer: A
NEW QUESTION 42
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. Map the EBS Chart of Accounts to the Cloud General Ledger.
- B. Apply appropriate patches to EBS.
- C. Set the System Options in EBS Receivables on the Revenue Management tab.
- D. Run the Deploy System Options process.
- E. Set the Profile Option AR: Source System Value for Revenue Management.
Answer: A,D
NEW QUESTION 43
Which three attributes are helpful in defining a Contract Identification Rule?
- A. Delivery Address
- B. Bill To Customer
- C. Product Description
- D. Quote Number
- E. Ledger
- F. Business Unit
Answer: A,C,D
NEW QUESTION 44
A corporation wants to use any potential values In a segment of their Pricing Dimension Structure, as long as those values do not exceed a length of 50 characters.
Which validation type must be selected when defining this Value Set?
- A. Table
- B. Independent
- C. Dependent
- D. Format Only
- E. Subset
Answer: D
NEW QUESTION 45
Given the Standalone Selling Price Profile combines all the key setup attributes of pricing Into one place, you create all standalone selling prices from the Standalone Selling Price Profiles for all Items or groups of items.
Which three setup attributes are part of a Standalone Selling Price Profile?
- A. SSP Tolerance Usage
- B. Pricing Dimension Assignment
- C. Estimated Standalone Selling Prices
- D. Items
- E. Observed Standalone Selling Prices
Answer: B,C,E
NEW QUESTION 46
The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill.......
What is the difference between Selling Amount and Allocated Amount?
- A. The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amount. The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.
- B. The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document upload. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.
- C. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculation. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.
- D. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amount. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.
Answer: B
NEW QUESTION 47
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. 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 calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
- E. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
Answer: C
NEW QUESTION 48
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