Oracle Enterprise Resource Planning (ERP) 1Z0-1059-21 Questions & Answers

• Question 1:

  Which statement is NOT applicable to Performance Obligation Templates?

  A. Oracle delivers three predefined Performance Obligation Templates,

  B. Performance Obligation Templates are specific to the business and cannot be predefined.

  C. Performance Obligation Templates take precedence over Performance Obligation Rules.

  D. Performance Obligation Templates can be associated to a Revenue Price Profile.

  Correct Answer: A

• Question 2:

  What is a Performance Obligation?

  A. a combination of customer type and product code

  B. a product code or SKU

  C. a promise to a customer on which either party has acted

  D. a promise to a customer

  Correct Answer: D

  https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP24 56627

• Question 3:

  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.

  Correct Answer: CDE

• Question 4:

  You define a Contract Identification Rule that uses the following source document attributes to match

  transaction lines:

  Bill-to Customer Party Identifier

  Extensible Header Character Attribute 4

  Based the data displayed: How many contracts will be created In Revenue Management?

  

  A. 3

  B. 1

  C. 5

  D. 0

  E. 4

  Correct Answer: A

• Question 5:

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

  A. a shipment

  B. a performance obligation

  C. an invoice

  D. promise detail

  Correct Answer: B

  Reference: https://docs.oracle.com/cloud/r13_update17b/financialscs_gs/FAFRM/FAFRM2462439.htm

• Question 6:

  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. Subset

  C. Independent

  D. Format Only

  E. Dependent

  Correct Answer: D

• Question 7:

  Which three attributes are helpful in defining a Contract Identification Rule?

  A. Product Description

  B. Quote Number

  C. Delivery Address

  D. Bill To Customer

  E. Ledger

  F. Business Unit

  Correct Answer: ABC

• Question 8:

  Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?

  A. require complete

  B. allow partial

  C. allow complete

  D. require partial

  Correct Answer: AB

  Explanation: https://docs.oracle.com/en/cloud/saas/financials/r13- update18a/fafrm/recognizerevenue.html#FAFRM2321853

• Question 9:

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

  A. Contract Identification Rules

  B. Items

  C. Source Document Types

  D. Pricing Dimension Segments

  Correct Answer: C

• Question 10:

  Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?

  A. allocates the SSP to various satisfaction events

  B. creates the accounting for the stages in the process

  C. allocates the SSP to various performance obligations

  D. recognizes revenue if any satisfaction events exist

  E. creates customer contracts and performance obligations

  Correct Answer: B