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

Oracle 1Z0-1059-20 Online Questions & Answers

• Question 51:

  The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition.

  What would cause a contract to be In the Pending Review tab?

  A. The total Transaction Price is over the user-defined threshold amount.
  B. The contract is missing standalone selling prices at the promised detail level or at obligation level.
  C. The contract is missing satisfaction events.
  D. The contract is missing Billing data.
  A. The total Transaction Price is over the user-defined threshold amount.

• Question 52:

  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 source document types specifically for Euro documents.
  B. Populate exchange rates in Revenue Price Profile.
  C. Populate Conversion Rate Type in System Options.
  D. Create revenue prices in the Euro currency.
  C. Populate Conversion Rate Type in System Options.

• Question 53:

  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. Wether Dynamic Combination Creation Allowed is enabled
  B. The value sets
  C. The Query Required option
  D. The Displayed option
  E. The shape: Same nunmber of segments and order
  B. The value sets
  E. The shape: Same nunmber of segments and order

• Question 54:

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

• Question 55:

  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 are used for standalone selling prices and for creating journal entries.
  C. Gaps between periods are not allowed.
  D. You cannot have overlapping periods.
  E. Effective Periods only define the rage where standalone selling prices of an item should be effective.
  B. Effective Periods are used for standalone selling prices and for creating journal entries.
  D. You cannot have overlapping periods.
  E. Effective Periods only define the rage where standalone selling prices of an item should be effective.

• Question 56:

  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
  A. Amount Band

• Question 57:

  Which configuration component is Source Document Type NOT connected to?

  A. Revenue Management System Options
  B. Performance Obligation Template
  C. Contract Identification Rules
  D. Revenue Price Profile
  E. Performance Obligation Identification Rules
  D. Revenue Price Profile

• Question 58:

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

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

• Question 59:

  What does the creation of an allocation allow you to determine?

  A. the ability not to revise previously reported revenue for revision, corrections, and other changes
  B. the fair value of each performance obligation
  C. the maximum amount of revenue you can recognize soonest, postponing the minimum until later
  D. an allocation of the expected consideration over the performance obligations as if you had sold them separately
  B. the fair value of each performance obligation

• Question 60:

  Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

  A. 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.
  B. You value the accrual at estimated consideration and it is a monetary debt.
  C. You book the invoiced amount to the PandL when you meet the regulatory definition by Industry.
  D. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
  E. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
  A. 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.