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

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Total 83 questions

Oracle Revenue Management Cloud Service 2024Implementation Essentials Questions and Answers

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Question 1

Using the two delivered Oracle Transactional Business Intelligence (OTBI) subject areas for Revenue Management, which two reporting objects can users build In the BI catalog?

Options:

A.

Infolets

B.

Dashboards

C.

Infotile

D.

Analysis

Question 2

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?

Options:

A.

60 User Extensible Fields

B.

10 User Extensible Fields

C.

90 User Extensible Fields

D.

50 User Extensible Fields

Question 3

In Revenue Management the Selling Amount and Allocated Amount may be different. How does Revenue Management account for this difference?

Options:

A.

It tracks the difference in a Discount Allocation Account at the contract line level.

B.

It tracks the difference in a Write-off Allocation Account at the contract level.

C.

It tracks the difference In a Discount Allocation Account at the contract level.

D.

It Tracks the difference in a Write-Off Allocation Account at the contract line level.

Question 4

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

Options:

A.

Contract Identification Rules

B.

Items

C.

Source Document Types

D.

Pricing Dimension Segments

Question 5

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?

Options:

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.

Question 6

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 7

Your organization Is selling a warranty plan to customers that covers appliances for one year. Revenue must be recognized gradually by month until the warranty expires.

Which Revenue Scheduling Rule Type needs to be defined for the Performance Satisfaction Plan?

Options:

A.

Fixed Schedule

B.

Variable Schedule

C.

Daily Revenue Rate, All Periods

D.

Daily Revenue Rate, Partial Periods

E.

Partial Schedule

F.

Daily Revenue Rate

Question 8

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)

Options:

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.

Question 9

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 10

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?

Options:

A.

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

B.

Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.

C.

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

D.

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

Question 11

In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.

Which two areNOTincluded in the four step process?

Options:

A.

Close the previous period.

B.

Review the calculated OSSP.

C.

Categorize standalone sales by performance obligation.

D.

Approve the OSSP by establishing it.

E.

Run the Calculate Observed Standalone Selling Prices program.

F.

Run Create Accounting.

Question 12

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?

Options:

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.

Question 13

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

Options:

A.

stand-alone selling price assigned to the promised detail line

B.

transaction price distributed to each performance obligation

C.

transaction price derived from the source system line import

D.

revenue recognized for each performance obligation

Question 14

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 15

Which isNOTa required piece of information when importing contract header Information from a source file?

Options:

A.

Date of Source Document

B.

Source Document Type code

C.

Record Type

D.

Source System

E.

Currency code of source document

F.

Source Document Unique Identifier Number 1

Question 16

Which statement is NOT applicable to Performance Obligation Templates?

Options:

A.

Oracle delivers three predefined Performance Obligation Templates,

B.

Performance Obligation Templates are specific to the business and cannot be predefined.

C.

Performance Obligation Templates take precedence over Performance Obligation Rules.

D.

Performance Obligation Templates can be associated to a Revenue Price Profile.

Question 17

Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?

Options:

A.

require complete

B.

allow partial

C.

allow complete

D.

require partial

Question 18

A Corporation has a business requirement to build a custom Revenue Management report that users could run from the Scheduled Processes page.

Which reporting tool must be used to address this business requirement?

Options:

A.

Smart View

B.

Business Intelligence Publisher

C.

Oracle Transactional Business Intelligence

D.

Reporting Studio

Question 19

Which three tasks are associated with defining a Pricing Dimension Structure?

Options:

A.

Define up to 30 segments and name them.

B.

Define up to 20 segments and name them.

C.

Analyze pricing policies across products and services.

D.

Create multiple instances for a given Pricing Dimension Structure.

E.

Include user friendly prompts for each segment.

F.

Assign required segment labels to each segment.

Question 20

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?

Options:

A.

Performance Obligation Satisfied

B.

Performance Obligation Billed

C.

Initial Performance

D.

Revenue Recognized

E.

Standalone Selling Prices Allocated

Question 21

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

Options:

A.

by identifying and creating one or more performance obligations for a given accounting contract

B.

by calculating Total Transaction Price for contracts

C.

by only creating contracts that are source system specific

D.

by allowing manual allocation of Total Transaction Price across performance obligations

E.

by restricting users from excluding contract lines

F.

by grouping source document lines intro contracts for each identified customer

Question 22

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?

Options:

A.

6

B.

4

C.

5

D.

3

Question 23

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 24

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?

Options:

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

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Total 83 questions