Oracle 1Z0-1059-20 Online Practice Questions and Exam Preparation

Oracle 1Z0-1059-20 Online Questions & Answers

• Question 1:

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

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

• Question 2:

  Which is NOT a Price Band Type?

  A. Amount Band
  B. Set Band
  C. Quantity Band
  D. Percentage Band
  D. Percentage Band

• Question 3:

  What does a Variable Consideration require?

  A. an estimate of the consideration be made at inception only
  B. that the consideration be monetary
  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. a disclosure be made to the shareholders
  A. an estimate of the consideration be made at inception only

• Question 4:

  A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How should you configure Revenue management to ensure that these items are grouped into one performance obligation?

  A. By defining a Revenue Item Group
  B. By defining a Standalone Selling Price Profile.
  C. By defining a Performance Obligation Template.
  D. By defining a Contact Identification Rule.
  A. By defining a Revenue Item Group

• Question 5:

  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. 3
  B. 4
  C. 2
  D. 1
  A. 3

• Question 6:

  Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?

  A. when a pricing dimension structure is enabled for pricing bands
  B. when a source document type is enabled to use pricing bands
  C. when a pricing dimension structure Instance Is enabled for pricing bands
  D. when a value set segment label of Set Band is used
  A. when a pricing dimension structure is enabled for pricing bands

• Question 7:

  What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

  A. Revenue and performance obligation liabilities are not dependent on billing.
  B. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
  C. Pricing estimates cannot be used In the absence of pricing data.
  D. Expected consideration value is applicable to all industries.
  C. Pricing estimates cannot be used In the absence of pricing data.
  D. Expected consideration value is applicable to all industries.

• Question 8:

  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. Smart View
  B. Business Intelligence Publisher
  C. Oracle Transactional Business Intelligence
  D. Reporting Studio
  B. Business Intelligence Publisher

• Question 9:

  Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?

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

• Question 10:

  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 it is a business requirement
  C. when Context Values are populated
  D. when the Type is Fixed or Variable
  D. when the Type is Fixed or Variable