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

• Question 41:

  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

  Correct Answer: A

  Reference: https://docs.oracle.com/cloud/r13_update17b/financialscs_gs/FAFRM/FAFRM2339999.htm #FAFRM1360704

• Question 42:

  Which is NOT a predefined Accounting Class for Revenue Management?

  A. Contract Discount

  B. Contract Liability

  C. Contract Unearned Revenue

  D. Contract Asset

  Correct Answer: C

• Question 43:

  When is it required to populate a value for Performance Satisfaction Plan In a Source Document Type?

  

  A. when the Satisfaction Measurement Model is set to Amount

  B. when the Satisfaction Measurement Model is set to Period

  C. when the Satisfaction Measurement Model is set to Quantity

  D. when the Satisfaction Measurement Model Is set to Percentage

  Correct Answer: B

• Question 44:

  Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which Is NOT a predefined Accounting Class?

  A. Contract Asset

  B. Contract Price Variance

  C. Contract Liability

  D. Contract Revenue

  E. Contract Expense

  F. Contract Clearing

  Correct Answer: E

  Reference: https://docs.oracle.com/en/cloud/saas/financials/r13- update18a/fafrm/financials-cloud-usingrevenue-management.pdf

• Question 45:

  When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition. Which two statements are true when you

  consider that recognition depends on the nature of the contingency? (Choose two)

  A. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized

  B. Time-based contingencies must not expire before the contingency can be removed and revenue recognized

  C. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet

  D. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

  E. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

  Correct Answer: DE

• Question 46:

  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.

  Correct Answer: C

  Explanation: https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define- revenuemanagement.html#FAFRM2371348

• Question 47:

  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. 10 User Extensible Fields

  C. 90 User Extensible Fields

  D. 50 User Extensible Fields

  Correct Answer: B

• Question 48:

  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

  Correct Answer: C

• Question 49:

  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. Apply appropriate patches to EBS.

  B. Run the Deploy System Options process.

  C. Set the Profile Option AR: Source System Value for Revenue Management.

  D. Map the EBS Chart of Accounts to the Cloud General Ledger.

  E. Set the System Options in EBS Receivables on the Revenue Management tab.

  Correct Answer: BD

• Question 50:

  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.

  Correct Answer: CD