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1z0-1059-24
Oracle Revenue Management Cloud Service 2024Implementation Essentials Questions and Answers

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Questions # 1:

Which, when transferred to a customer, allows you to recognize revenue?

Options:

a shipment

a performance obligation

an invoice

promise detail

Answer

Explanation

[Reference:https://docs.oracle.com/cloud/r13_update17b/financialscs_gs/FAFRM/FAFRM2462439.htm, , ]

Questions # 2:

Which method is used to allocate total transaction price across performance obligations in Revenue Management?

Options:

Inverted Allocation Method

Residual Allocation Method

Relative Allocation Method

Two Step Allocation Method

Alternative Allocation Method

Answer

Questions # 3:

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:

Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized

Time-based contingencies must not expire before the contingency can be removed and revenue recognized

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

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.

Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

Answer

D, E

Questions # 4:

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

Options:

Contract Identification Rules

Items

Source Document Types

Pricing Dimension Segments

Answer

Questions # 5:

Which setup Is required to enable integration between Order Management and Revenue Management?

Options:

Configure settings In the Order Management section of the Manage Integrations for Revenue Management page.

Add Order Management in the Manage Trading Community Source Systems page.

Create custom program to extract sales order and fulfillment data from Order Management.

Assign Extraction Start Date for source document type DOO Sales Order in the Manage System Options for Revenue Management page.

Define an Implied performance obligation template to create performance obligations associated to sales orders and return material authorizations.

Define a source document type for the Order Management application and set satisfaction measurement model to quantity.

Answer

Questions # 6:

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

Options:

stand-alone selling price assigned to the promised detail line

transaction price distributed to each performance obligation

transaction price derived from the source system line import

revenue recognized for each performance obligation

Answer

Questions # 7:

Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.

Besides Unit SSP Price, Currency and Unit of Measure, which three additional attributes are required when loading prices for items, memo lines and/or Item groups?

Options:

Reason

Pricing Dimension

Item Identifier

Performance Obligation Template

Tolerance ranges

SSP Type

Answer

B, E, F

Questions # 8:

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?