[Dec-2021] 1Z0-1059-20 Exam Dumps Pass with Updated 2021 Oracle Revenue Management Cloud Service 2020 Implementation Essentials
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Topics of Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam
Candidates must know the exam topics before they start of preparation. Our 1z0-1059-20 Dumps will include the following topics:
1. Revenue Management Overview
- Explain Revenue Management Integration Requirements
- Explain Revenue Principles (including new revenue recognition guidance under ASC 606 and IFRS 15)
2. Standalone Selling Prices
- Setup Revenue Management and configure standalone pricing
3. Revenue Management Reporting
- Explain how to create OTBI reporting objects
- Explain delivered reports uses and processes
4. Revenue Management Setup and Configuration
- Configure Revenue Management Cloud Services
- NOTE: Placeholder for future Objective for another skill under Setup and Config
5. Revenue Contracts
- Manage contracts and Revenue
NEW QUESTION 23
Which is NOT a predefined Accounting Class for Revenue Management?
- A. Contract Discount
- B. Contract Unearned Revenue
- C. Contract Liability
- D. Contract Asset
Answer: B
NEW QUESTION 24
Why Is Satisfaction Method a key element of a Performance Obligation?
- A. because it calculates the percentage of Total Transaction Price allocated to date
- B. because it determines whether revenue for a good or service is recognized Over Time or Point in Time
- C. because it specifies whether revenue has been fully or partially recognized for a good or service
- D. because it calculates the amount of Total Transaction Price allocated to date
Answer: B
NEW QUESTION 25
Which two are intended uses for the Standalone Selling Price Report Dashboard?
- A. Monitor transaction price calculation and allocation.
- B. Drill down to data used to derive standalone selling prices.
- C. Diagnose revenue price profile.
- D. Review performance obligations by effective period.
- E. Analyze standalone selling prices for one or multiple effective periods.
Answer: C,E
NEW QUESTION 26
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 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.
- B. 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.
- C. 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.
- D. 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.
Answer: D
NEW QUESTION 27
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?
- A. Customer Contract Source Data Import
- B. Customer Sales Data Source Documents Import
- C. Customer Contract Source Documents Import
- D. Customer Sales Source Data Import
Answer: A
NEW QUESTION 28
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. Revenue Recognized
- B. Performance Obligation Billed
- C. Standalone Selling Prices Allocated
- D. Performance Obligation Satisfied
- E. Initial Performance
Answer: A,D,E
NEW QUESTION 29
What is a contract modification?
- A. a change to the contract caused by negotiation with the customer
- B. an increase or decrease in expected collectability
- C. a revision or correction to the estimate of variable consideration made at inception
- D. a change (modification) to the contract data
Answer: A
NEW QUESTION 30
What is a Performance Obligation?
- A. a product code or SKU
- B. a promise to a customer on which either party has acted
- C. a promise to a customer
- D. a combination of customer type and product code
Answer: C
Explanation:
Explanation
https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP2456627
NEW QUESTION 31
How can you access an implementation task in Functional Setup Manager. (choose 3)
- A. By navigation to an offering's functional area
- B. By searching
- C. By navigating from the Welcome Springboard
- D. By navigating from the Implementation Project
Answer: A,B,D
NEW QUESTION 32
When is it required to populate a value for Performance Satisfaction Plan In a Source Document Type?
- A. when the Satisfaction Measurement Model is set to Quantity
- B. when the Satisfaction Measurement Model is set to Period
- C. when the Satisfaction Measurement Model is set to Amount
- D. when the Satisfaction Measurement Model Is set to Percentage
Answer: B
NEW QUESTION 33 
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
- B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
- C. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
- D. Revenue Management can only integrate to Fusion Receivables.
Answer: C,D
NEW QUESTION 34
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?
- A. Daily Revenue Rate
- B. Fixed Schedule
- C. Partial Schedule
- D. Daily Revenue Rate, All Periods
- E. Daily Revenue Rate, Partial Periods
- F. Variable Schedule
Answer: B
NEW QUESTION 35
Which, when transferred to a customer, allows you to recognize revenue?
- A. an invoice
- B. a performance obligation
- C. a shipment
- D. promise detail
Answer: B
NEW QUESTION 36
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. The Displayed option
- B. Wether Dynamic Combination Creation Allowed is enabled
- C. The shape: Same nunmber of segments and order
- D. The Query Required option
- E. The value sets
Answer: C,E
NEW QUESTION 37
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS
15 versus the old standard?
- A. Expected consideration value is applicable to all industries.
- B. Revenue and performance obligation liabilities are not dependent on billing.
- C. Pricing estimates cannot be used In the absence of pricing data.
- D. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
Answer: A,C
NEW QUESTION 38
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?
- A. Smart View
- B. Oracle Transactional Business Intelligence
- C. Business Intelligence Publisher
- D. Reporting Studio
Answer: C
NEW QUESTION 39
Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.
In addition to the SSP Value (price) and Currency, which two are required?
- A. Performance Obligation Template
- B. Item Identifier
- C. Unit of Measure
- D. Pricing Dimension
- E. SSP Type
Answer: B,C
Explanation:
Explanation
https://docs.oracle.com/cloud/r13_update17b/financialscs_gs/FAFRM/FAFRM2340000.htm#FAFRM2339998
NEW QUESTION 40
A corporation wants to use any potential values In a segment of their Pricing Dimension Structure, as long as those values do not exceed a length of 50 characters.
Which validation type must be selected when defining this Value Set?
- A. Format Only
- B. Subset
- C. Table
- D. Dependent
- E. Independent
Answer: A
NEW QUESTION 41
Why are Source Document Type Codes required when defining Source Document Types?
- A. Because they provide uniqueness to the Source Document Types.
- B. Because they are needed for integration with Product Management.
- C. Because they are Revenue Management Descriptive Flexfields.
- D. Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.
Answer: B
NEW QUESTION 42
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 Query Required option
- C. the value sets
- D. the shape: Same number of segments and order
- E. the Displayed option
Answer: A,D
NEW QUESTION 43
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?
- A. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
- B. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
- C. 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.
- D. You value the accrual at estimated consideration and it is a monetary debt.
- E. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
Answer: C
NEW QUESTION 44
Oracle Revenue Management is part of_____________________predefined offering.
- A. Enterprise Contracts
- B. Incentive Compensation
- C. Financials
- D. Fusion Accounting Hub
Answer: C
NEW QUESTION 45
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. Using their existing primary ledger.
- B. Create a new primary ledger.
- C. Create a reporting ledger.
- D. Create a secondary ledger.
Answer: A
NEW QUESTION 46
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?
- A. By defining a Standalone Selling Price Profile.
- B. By defining a Contact Identification Rule.
- C. By defining a Revenue Item Group
- D. By defining a Performance Obligation Template.
Answer: C
NEW QUESTION 47
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
- A. Oracle General Ledger
- B. Oracle Subledger Accounting
- C. Oracle Receivables
- D. Oracle Revenue Management Cloud
Answer: B,D
NEW QUESTION 48
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Introduction to Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam
Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam is designed for candidates who have knowledge and skills in revenue management of the Oracle cloud services or candidates who willing to have a strong understanding of revenue and cost management of the Oracle cloud services can go ahead and appear for this exam.
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