1Z0-1059 Online Practice Questions and Answers

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.

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

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

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.

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"

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

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

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

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.

The predefined Revenue Contract Account Activities report originally had only one output option of spreadsheet.

Which output option can you now also choose to assist In handling a large number of records?

A. HTML

B. PowerPoint

C. Flat File

D. PDF

Which statement is NOT applicable to Performance Obligation Templates?

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.

Which three statements about Effective Periods are true?

A. If effective periods are not defined, Revenue Management uses the General Ledger calendar.

B. Effective Periods are used for standalone selling prices and for creating journal entries.

C. Gaps between periods are not allowed

D. You cannot have overlapping periods.

E. Effective Periods only define the rage where standalone selling prices of an item should be effective.