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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:

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 3:

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 4:

Given your organization\’s Interactions with one of Its customers:

1.

A consultant is deployed to assist customer on 10-Sep-2017.

2.

A Sales order is booked on 14-Sep-2017.

3.

The Product is shipped on 15-Sep-2017.

4.

An Invoice is issued on 20-Sep-2017.

When do you accrue the contract liability?

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

B. when the product is shipped on 15-Sep-2017

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

D. when an invoice is issued on 20-Sep-2017

Correct Answer: A


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?

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 6:

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 7:

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 8:

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

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.

Correct Answer: ACF

Reference: https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP20 10696


Question 9:

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 10:

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 11:

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 12:

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?

A. Freeze Period

B. Default Classification

C. Source Document Type

D. Priority

Correct Answer: D


Question 13:

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 14:

Your customer ships machines, and can recognize revenue for each machine after the machine has been delivered to a customer without waiting for complete satisfaction of an entire performance obligation. How would you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for these performance obligations at a point in time?

A. by setting SM to “Allow Partial” and SMM to “Quantity”

B. by setting SM to “Requires Complete” and SMM to “Period”

C. by setting SM to “Requires Complete” and SMM to “Quantity”

D. by setting SM to “Requires Complete” and SMM to “Percent”

E. by setting SM to “Allow Partial” and SMM to “Period”

Correct Answer: B


Question 15:

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?

A. Identify Customer Contract Based on Party

B. Identify Customer Contract Based on Source Document Line

C. Identify Customer Contract Based on Source Document

D. Identify Customer Contract Based on Source System

Correct Answer: C

Reference: https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP24 33444


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