Oracle 1Z0-1059-21 Online Practice Questions and Exam Preparation

Oracle 1Z0-1059-21 Online Questions & Answers

• Question 41:

  Which three types of reference data critical to the Integration of a source system need to be synchronized between an external system and Revenue Management?

  A. Suppliers
  B. Business Units
  C. Customers
  D. Inventory items
  E. Receivables configurations
  F. Banks, branches and bank accounts
  B. Business Units
  C. Customers
  D. Inventory items

• Question 42:

  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 43:

  Which is Not a required piece of information when importing contract header information from a source file?

  A. Source System
  B. Source Document Type code
  C. Record Type
  D. Currency code of source document
  E. Source Document Unique Identifier Number 1
  F. Date of source Document
  E. Source Document Unique Identifier Number 1

• Question 44:

  One way to upload customer contract data from a source system is through File Based Data Import (FBDI) using a spreadsheet template provided by Revenue Management.

  What is the name of this spreadsheet template?

  A. Customer Contract Source Documents Import
  B. Customer Sales Source Data Import
  C. Customer Contract Source Data Import
  D. Customer Sales Data Source Documents Import
  C. Customer Contract Source Data Import

• Question 45:

  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

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  Reference: https://docs.oracle.com/en/cloud/saas/financials/r13- update18a/fafrm/recognize-revenue.html#FAFRM2321853

• Question 46:

  A corporation does not have reliable historical Standalone Selling Prices stored In Its source systems. What option is available to help the corporation in this scenario?

  A. Navigate to the "Manage Revenue Price Profiles" page and enter estimated prices manually in the browser user interface.
  B. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.
  C. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.
  D. Run the Calculate Observed Standalone Selling Prices program to derive prices.
  D. Run the Calculate Observed Standalone Selling Prices program to derive prices.

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  https://docs.oracle.com/cloud/farel12/financialscs_gs/OEDMF/VRM_CUSTOMER_CONTR ACT_HEADERS_tbl.htm

• Question 47:

  

  Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?

  A. Revenue Management can only integrate to Fusion Receivables.
  B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
  C. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
  D. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
  A. Revenue Management can only integrate to Fusion Receivables.
  D. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.

• Question 48:

  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
  D. a promise to a customer

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

• Question 49:

  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 50:

  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. Unearned Revenue
  D. your debt to customers for goods and services you are obliged to deliver to them by either party acting
  D. your debt to customers for goods and services you are obliged to deliver to them by either party acting