oracle 1z0-1059-21 practice test

Oracle Revenue Management Cloud Service 2021 Implementation Essentials Exam

Last exam update: May 14 ,2024
Page 1 out of 5. Viewing questions 1-15 out of 84

Question 1

At which level does Oracle Revenue management perform accounting?

  • A. Legal entity level
  • B. Contract level
  • C. Performance obligation level
Answer:

C

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Question 2

Which method is used to allocate total transaction price across performance obligations in Revenue
Management?

  • A. Inverted Allocation Method
  • B. Residual Allocation Method
  • C. Relative Allocation Method
  • D. Two Step Allocation Method
  • E. Alternative Allocation Method
Answer:

D

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Question 3

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.
Answer:

D, E

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Question 4

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
Answer:

B, E

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Question 5

Oracle Revenue Management is part of_____________________predefined offering.

  • A. Enterprise Contracts
  • B. Fusion Accounting Hub
  • C. Incentive Compensation
  • D. Financials
Answer:

D

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Question 6

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
Answer:

E

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Question 7

A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to
consumers. The entity has identified that this bundle is a distinct performance obligation. How
should
you
configure
Revenue management to ensure that these items are grouped into one performance obligation?

  • A. By defining a Revenue Item Group
  • B. By defining a Standalone Selling Price Profile.
  • C. By defining a Performance Obligation Template.
  • D. By defining a Contact Identification Rule.
Answer:

A

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Question 8

How can you access an implementation task in Functional Setup Manager. (choose 3)

  • A. By navigating from the Implementation Project
  • B. By navigation to an offering's functional area
  • C. By navigating from the Welcome Springboard
  • D. By searching
Answer:

A, B, D

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Question 9

Which is NOT a Price Band Type?

  • A. Amount Band
  • B. Set Band
  • C. Quantity Band
  • D. Percentage Band
Answer:

D

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Question 10

Your customer ships machines, and can recognize revenue for each machine after the machine has
been delivered to a customer without waiting for complete satisfaction of an entire performance
obligation.
How
would
you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue
Management to recognize revenue for these performance obligations at a point in time?

  • A. by setting SM to "Allow Partial" and SMM to "Quantity"
  • B. by setting SM to "Requires Complete" and SMM to "Period"
  • C. by setting SM to "Requires Complete" and SMM to "Quantity"
  • D. by setting SM to "Requires Complete" and SMM to "Percent"
  • E. by setting SM to "Allow Partial" and SMM to "Period"
Answer:

B

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Question 11

If the Contract Identification Rules that you defined for your customer did not group the source data
into customer as expected, how would you resolve the issue?

  • A. Delete the source data that was imported into Revenue Management and import new source data.
  • B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts Ul.
  • C. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher- priority Contract Identification Rule, and run The Identify Customer Contracts program again.
  • D. Delete Contracts from the Manage Customer Contracts Ul.
  • E. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
Answer:

C

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Question 12

65-A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package
to consumers. The entity has identified that this bundle is a distinct performance obligation. How
would
you
configure the Performance Obligation Identification Rule to ensure correct grouping of these items?

  • A. By defining a grouping rule on the customer class
  • B. By defining an exclusion rule to exclude customer classes that are "Retail"
  • C. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute
  • D. By defining an item group and assigning that to the rule
  • E. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute
Answer:

E

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Question 13

Which is NOT a predefined Accounting Class for Revenue Management?

  • A. Contract Discount
  • B. Contract Liability
  • C. Contract Unearned Revenue
  • D. Contract Asset
Answer:

C

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Question 14

Which is the following is NOT a feature of personalization

  • A. Selecting default language
  • B. Changing text font
  • C. Saving searches
  • D. Configuring table columns
Answer:

B

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Question 15

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
Answer:

A

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

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