[Apr 10, 2022] New Updated 1Z0-1059-21 Exam Questions 2022 [Q47-Q68]

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[Apr 10, 2022] New Updated 1Z0-1059-21 Exam Questions 2022

Updated Free Oracle 1Z0-1059-21 Test Engine Questions with 82 Q&As

NEW QUESTION 47
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?

whether Dynamic Combination Creation Allowed is enabled

the shape: Same number of segments and order

the Displayed option

the value sets

the Query Required option

NEW QUESTION 48
After analyzing sales documents for your organization, you conclude that it will be appropriate to group transaction lines by customer to create contracts In Revenue Management.
Which predefined Contract Identification Rule can be used in this case?

Identify Customer Contract Based on Party

Identify Customer Contract Based on Source Document Line

Identify Customer Contract Based on Source Document

Identify Customer Contract Based on Source System

NEW QUESTION 49
What is a Standalone Selling Price (SSP)?

the average of your bundled price

the sum of the SSPs of the components

the list price

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

NEW QUESTION 50
Given your organization’s Interactions with one of Its customers:
A consultant is deployed to assist customer on 10-Sep-2017.
A Sales order is booked on 14-Sep-2017.
The Product is shipped on 15-Sep-2017.
An Invoice is issued on 20-Sep-2017.
When do you accrue the contract liability?

when the consultant is deployed to assist customer on 10-Sep-2017

when the product is shipped on 15-Sep-2017

when the sales order Is booked on 14-Sep-2017

when an invoice is issued on 20-Sep-2017

NEW QUESTION 51
Revenue tracks several amounts associated to a customer contract, for example, selling amount, allocated amount, and billed amount. What is allocated amount?

stand-alone selling price assigned to the promised detail line

transaction price distributed to each performance obligation

transaction price derived from the source system line import

revenue recognized for each performance obligation

NEW QUESTION 52
Which method is used to allocate total transaction price across performance obligations in Revenue Management?

Inverted Allocation Method

Residual Allocation Method

Relative Allocation Method

Two Step Allocation Method

Alternative Allocation Method

NEW QUESTION 53
Which statement Is True regarding the Customer Contract Source Data Import Template?

It is a predefined Excel FBDI template.

It is a predefined Java FBDI template.

It Is a predefined HTML FBDI template.

It is a custom template that you are required to build.

NEW QUESTION 54
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?

60 User Extensible Fields

10 User Extensible Fields

90 User Extensible Fields

50 User Extensible Fields

NEW QUESTION 55
Which three statements about Effective Periods are true?

If effective periods are not defined. Revenue Management uses the General Ledger calendar.

Effective Periods are used for standalone selling prices and for creating journal entries.

Gaps between periods are not allowed.

You cannot have overlapping periods.

Effective Periods only define the rage where standalone selling prices of an item should be effective.

NEW QUESTION 56
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?

Navigate to the “Manage Revenue Price Profiles” page and enter estimated prices manually in the browser user interface.

Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.

Navigate to the “Manage Revenue Price Profiles” page and download spreadsheet template to enter estimated prices manually.

Run the Calculate Observed Standalone Selling Prices program to derive prices.

NEW QUESTION 57
Which setup component Is NOT connected to a Revenue Price Profile?

Contract Identification Rules

Items

Source Document Types

Pricing Dimension Segments

NEW QUESTION 58
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)

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

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

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

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.

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

NEW QUESTION 59
Why are Source Document Type Codes required when defining Source Document Types?

Because they are Revenue Management Descriptive Flexfields.

Because they are needed for integration with Product Management.

Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.

Because they provide uniqueness to the Source Document Types.

NEW QUESTION 60
Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.
Besides Unit SSP Price, Currency and Unit of Measure, which three additional attributes are required when loading prices for items, memo lines and/or Item groups?

Reason

Pricing Dimension

Item Identifier

Performance Obligation Template

Tolerance ranges

SSP Type

NEW QUESTION 61
You define a Performance Obligation Identification Rule that uses the following matching attribute to group source document lines:
Extensible Line Character Attribute 7
Based on the data displayed:

How many performance obligations will be created In Revenue Management?

NEW QUESTION 62
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?

Create source document types specifically for Euro documents.

Populate exchange rates in Revenue Price Profile.

Populate Conversion Rate Type in System Options.

Create revenue prices in the Euro currency.

NEW QUESTION 63
Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?

These accounts are optional in Revenue Management.

If nonexistent, these accounts need to be added to the chart of accounts.

If nonexistent, these accounts are added automatically to the chart of accounts.

These accounts are not relevant to Revenue Management.

NEW QUESTION 64
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?

By defining a Revenue Item Group

By defining a Standalone Selling Price Profile.

By defining a Performance Obligation Template.

By defining a Contact Identification Rule.

NEW QUESTION 65
How many tabs does the Customer Contract Source Data Import Template have?

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

three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively

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

one tab that stores data for the VRM_SOURCE_DOCUMENTS table

NEW QUESTION 66
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

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.

You value the accrual at estimated consideration and it is a monetary debt.

You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.

You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

NEW QUESTION 67
Which setup Is required to enable integration between Order Management and Revenue Management?

Configure settings In the Order Management section of the Manage Integrations for Revenue Management page.

Add Order Management in the Manage Trading Community Source Systems page.

Create custom program to extract sales order and fulfillment data from Order Management.

Assign Extraction Start Date for source document type DOO Sales Order in the Manage System Options for Revenue Management page.

Define an Implied performance obligation template to create performance obligations associated to sales orders and return material authorizations.

Define a source document type for the Order Management application and set satisfaction measurement model to quantity.

NEW QUESTION 68
What is a Performance Obligation?

a combination of customer type and product code

a product code or SKU

a promise to a customer on which either party has acted

a promise to a customer

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[Apr 10, 2022] New Updated 1Z0-1059-21 Exam Questions 2022 [Q47-Q68]

April 10, 2022

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[Apr 10, 2022] New Updated 1Z0-1059-21 Exam Questions 2022 [Q47-Q68]

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