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Question 1:

Which is a term 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_M anagement_Datasheet.pdf


Question 2:

A corporation uses a pricing policy that considers deal size to calculate price per unit for its products. For example:

Which Price Band Segment Label would be appropriate to use in this case?

A. Amount Band

B. Deal Size Band

C. Set Band

D. Quantity Band

Correct Answer: A


Question 3:

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

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.

Correct Answer: A

Reference: https://www.google.com/url?sa=tandrct=jandq=andesrc=sandsource=webandcd=1andcad=rjaanduact=8andv ed=2ahUKEwjQrM7ImKzdAhUHxYUKHbYLBpAQFjAAegQIBBACandurl=http://w ww.oracle.com /webfolder/technetwork/docs% 2Ffbdi- r11/fbdi/xlsm% 2FRevenueDataImportTemplate.xlsmandusg=AOvVaw2kKXNI1OQEF 9K6p7rBAEwz


Question 4:

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

Correct Answer: D


Question 5:

What is a Standalone Selling Price (SSP)?

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

Correct Answer: D


Question 6:

What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?

A. Create a reporting ledger.

B. Create a new primary ledger.

C. Create a secondary ledger.

D. Using their existing primary ledger.

Correct Answer: D


Question 7:

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. whether Dynamic Combination Creation Allowed is enabled

B. the shape: Same number of segments and order

C. the Displayed option

D. the value sets

E. the Query Required option

Correct Answer: AB


Question 8:

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

Correct Answer: B


Question 9:

Which three tasks can be performed In the Revenue Management Work Area?

A. Edit Contract Identification Rules.

B. Review Observed Standalone Selling Prices.

C. Manage contracts in “Pending Review” status.

D. Manage contracts in “Pending Allocation” status.

E. Review Performance Satisfaction Plans.

F. Review Revenue Price Profiles.

Correct Answer: BCD


Question 10:

The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill…….

What is the difference between Selling Amount and Allocated Amount?

A. The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amount. The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.

B. The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document upload. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.

C. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculation. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.

D. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amount. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.

Correct Answer: B


Question 11:

A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application. How should you handle this scenario In Revenue Management?

A. Ignore the performance obligation for the toaster because it was free of cost to the customer.

B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.

C. Create the performance obligation for the toaster manually.

D. Define an adhoc rule in the Revenue Price Profile to include the toaster.

Correct Answer: B


Question 12:

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

A. B, C, A

B. A, C, B

C. C, B, A

D. C, A, B

E. A, B, C

F. B, A, C

Correct Answer: F


Question 13:

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?

A. The total Transaction Price is over the user-defined threshold amount.

B. The contract is missing standalone selling prices at the promised detail level or at obligation level.

C. The contract is missing satisfaction events.

D. The contract is missing Billing data.

Correct Answer: A

Explanation: Accounting contracts with a total transaction price that is greater than the user-defined

threshold amount you defined in your system options. Contracts in this list are significant value contracts.

Reference:

https://docs.oracle.com/cloud/farel12/financialscs_gs/FAOFC/FAOFC2288367.htm#FAOF C2288367


Question 14:

Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?

A. Performance Obligation Satisfied

B. Performance Obligation Billed

C. Initial Performance

D. Revenue Recognized

E. Standalone Selling Prices Allocated

Correct Answer: ACD


Question 15:

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


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