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  4. 1z0-1059-24 - Oracle Revenue Management Cloud Service 2024Implementation Essentials

Oracle 1z0-1059-24 Oracle Revenue Management Cloud Service 2024Implementation Essentials Exam Practice Test

Demo: 24 questions
Total 83 questions
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Oracle Revenue Management Cloud Service 2024Implementation Essentials Questions and Answers

Question 1

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

Options:

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 tabs that 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

Question 2

Which three attributes are helpful in defining a Contract Identification Rule?

Options:

A.

Product Description

B.

Quote Number

C.

Delivery Address

D.

Bill To Customer

E.

Ledger

F.

Business Unit

Question 3

Revenue Management integrates with the Subledger Accounting application. Which three services does Subledger Accounting provide to Revenue Management?

Options:

A.

General Ledger account derivation based on predefined events

B.

centralized accounting solution

C.

General Ledger journal creation

D.

multiple accounting representations

E.

revaluation of assets and liabilities

F.

stand-alone selling price derivation

Question 4

Which is NOT a predefined Accounting Class for Revenue Management?

Options:

A.

Contract Discount

B.

Contract Liability

C.

Contract Unearned Revenue

D.

Contract Asset

Question 5

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?

Options:

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

Question 6

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?

Options:

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

Question 7

Oracle Revenue Management is part of_____________________predefined offering.

Options:

A.

Enterprise Contracts

B.

Fusion Accounting Hub

C.

Incentive Compensation

D.

Financials

Question 8

Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?

Options:

A.

Revenue Management can only integrate to Fusion Receivables.

B.

You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.

C.

You can choose which Transaction Sources in Fusion Receivables integrate to Revenue

Management.

D.

You can define date filters in order to consider only relevant data needed to comply with the

new revenue recognition standards.

Question 9

Which is Not a required piece of information when importing contract header information from a source file?

Options:

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

Question 10

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?

Options:

A.

Reason

B.

Pricing Dimension

C.

Item Identifier

D.

Performance Obligation Template

E.

Tolerance ranges

F.

SSP Type

Question 11

What is the correct match sequence of the descriptions A, B and C against the titles?

Options:

A.

B, C, A

B.

A, C, B

C.

C, B, A

D.

C, A, B

E.

A, B, C

F.

B, A, C

Question 12

Which, when transferred to a customer, allows you to recognize revenue?

Options:

A.

a shipment

B.

a performance obligation

C.

an invoice

D.

promise detail

Question 13

Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?

Options:

A.

your invoiced goods and services less those goods and services that you have not yet delivered

B.

your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered

C.

Unearned Revenue

D.

your debt to customers for goods and services you are obliged to deliver to them by either party acting

Question 14

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.

Which two options are available In Revenue Management to convert transaction amounts to the USD currency?

Options:

A.

Select Conversion Rate Type in the Source Document Type setup.

B.

Run the Revenue Management translation process.

C.

Enter Conversion Rate Type in System Options.

D.

Provide currency conversion details in the Revenue Basis Data Import Template.

E.

Enter exchange rate information in Standalone Selling Price Profile.

Question 15

What is a Standalone Selling Price (SSP)?

Options:

A.

the average of your bundled 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

Question 16

What does a Variable Consideration require?

Options:

A.

an estimate of the consideration be made at inception only

B.

that the consideration be monetary

C.

an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized

D.

a disclosure be made to the shareholders

Question 17

You have defined 3 Contract Identification rules: Rule A, Rule B, and Rule C. You then decide that Rule C needs to be the first rule executed when the "Identify Customer Contracts" process runs.

Which attribute needs to be updated to achieve this objective?

Options:

A.

Freeze Period

B.

Default Classification

C.

Source Document Type

D.

Priority

Question 18

Which is the following is NOT a feature of personalization

Options:

A.

Selecting default language

B.

Changing text font

C.

Saving searches

D.

Configuring table columns

Question 19

Why are Source Document TypeCodesrequired when defining Source Document Types?

Options:

A.

Because they are Revenue Management Descriptive Flexfields.

B.

Because they are needed for integration with Product Management.

C.

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

D.

Because they provide uniqueness to the Source Document Types.

Question 20

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

Options:

A.

These accounts are optional in Revenue Management.

B.

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

C.

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

D.

These accounts are not relevant to Revenue Management.

Question 21

What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

Options:

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.

Question 22

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

Options:

A.

It is a predefined Excel FBDI template.

B.

It is a predefined Java FBDI template.

C.

It Is a predefined HTML FBDI template.

D.

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

Question 23

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

Options:

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 P&L 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.

Question 24

Which is a term under ASC 606 or IFRS 15?

Options:

A.

transaction price

B.

promise detail

C.

initial performance event

D.

requires complete

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