Free Oracle Revenue Management Cloud Service 2021 Implementation Essentials Exam 1Z0-1059-21 Exam Practice Test

Which two settings are related to the "Invalid Line Handling" Revenue Management System Option?

• Void contract
• Preserve contract
• Reject line
• Reverse line
• Reject contract

Why Is Satisfaction Method a key element of a Performance Obligation?

• because it determines whether revenue for a good or service is recognized Over Time or Point in Time
• because it calculates the amount of Total Transaction Price allocated to date
• because it calculates the percentage of Total Transaction Price allocated to date
• because it specifies whether revenue has been fully or partially recognized for a good or service

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.

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.

Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?

• by identifying and creating one or more performance obligations for a given accounting contract
• by calculating Total Transaction Price for contracts
• by only creating contracts that are source system specific
• by allowing manual allocation of Total Transaction Price across performance obligations
• by restricting users from excluding contract lines
• by grouping source document lines intro contracts for each identified customer

A pricing dimension segment value combination is one of the factors to determine standalone selling prices. This combination is based on the pricing dimension assignment setup. What does the pricing dimension assignment match the pricing dimension segment combination to?

• pricing bands
• a pricing dimension structure
• the source document types
• a pricing dimension structure instance

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

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?

• Apply appropriate patches to EBS.
• Run the Deploy System Options process.
• Set the Profile Option AR: Source System Value for Revenue Management.
• Map the EBS Chart of Accounts to the Cloud General Ledger.
• Set the System Options in EBS Receivables on the Revenue Management tab.

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.

The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition. What would cause a contract to be In the Pending Review tab?

• The total Transaction Price is over the user-defined threshold amount.
• The contract is missing standalone selling prices at the promised detail level or at obligation level.
• The contract is missing satisfaction events.
• The contract is missing Billing data.