Oracle Oracle Certifications 1Z0-1059-22 Questions & Answers

• Question 51:

  How many tabs does the Customer Contract Source Data Import Template have?

  A. four tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, and VRM_PERF_OBLIG tables respectively

  B. three tabsthat store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively

  C. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively

  D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table

  Correct Answer: B

  You can import source transactions using the Customer Contract Source Data Import process. Customer Contract Source Data Import uses three interface tables--one parent table and two child tables--to represent source documents, source document lines, and source document sub-lines. The parent table, VRM_SOURCE_DOCUMENTS contains the source document information. The child tables contain the following information for a given interface line record: VRM_SOURCE_DOC_LINES contains source document line details; VRM_SOURCE_DOC_SUB_LINES contains source document sub line details

• Question 52:

  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 53:

  Using the two delivered Oracle Transactional Business Intelligence (OTBI) subject areas for Revenue Management, which two reporting objects can users build In the BI catalog?

  A. Infolets

  B. Dashboards

  C. Infotile

  D. Analysis

  Correct Answer: BD

• Question 54:

  What is a Standalone Selling Price (SSP)?

  A. the average of yourbundled price

  B. the sum of the SSPs of the components

  C. the list price

  D. the price you would use if you sold to a customer separately

  Correct Answer: D

• Question 55:

  Which is aterm under ASC 606 or IFRS 15?

  A. transaction price

  B. promise detail

  C. initial performance event

  D. requires complete

  Correct Answer: A

  Reference:https://cloud.oracle.com/_downloads/Datasheet_Financials_3_RevenueMgmt/Revenue_Management_Datasheet.pdf

• Question 56:

  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 57:

  In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.

  Which twoareNOTincluded in the four step process?

  A. Close the previous period.

  B. Review the calculated OSSP.

  C. Categorize standalone sales by performance obligation.

  D. Approve the OSSP by establishing it.

  E. Run the Calculate Observed Standalone Selling Prices program.

  F. Run Create Accounting.

  Correct Answer: CE

• Question 58:

  Your organization Is selling a warranty plan to customers that covers appliances for one year. Revenue must be recognized gradually by month until the warranty expires.

  Which Revenue Scheduling Rule Type needs tobe defined for the Performance Satisfaction Plan?

  A. Fixed Schedule

  B. Variable Schedule

  C. Daily Revenue Rate, All Periods

  D. Daily Revenue Rate, Partial Periods

  E. Partial Schedule

  F. Daily Revenue Rate

  Correct Answer: A

  Reference:https://fusionhelp.oracle.com/fscmUI/topic/TopicId_P_888B257D55BE0BBDE040D30A68813B17

• Question 59:

  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.

  Correct Answer: A

• Question 60:

  What is a contract modification?

  A. a change to the contract caused by negotiation with the customer

  B. a revision or correction to the estimate of variable consideration made at inception

  C. a change (modification) to the contract data

  D. an increase or decrease inexpected collectability

  Correct Answer: A

  Reference:https://docs.oracle.com/en/cloud/saas/financials/r13-update17d/fafrm/manage-revenue-management.html#FAFRM2684195