1Z0-1059-22 Online Practice Questions and Answers

What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy underASC 606 and IFRS 15?

A. Create a reporting ledger.

B. Create a new primary ledger.

C. Create a secondary ledger.

D. Using their existing primary ledger.

Given the Identify Customer Contracts Job set performs many different processes, which action IsNOTperformed by this job set?

A. allocates the SSP to various satisfaction events

B. creates the accounting for the stages in the process

C. allocates the SSP to various performance obligations

D. recognizes revenue if any satisfaction events exist

E. creates customer contracts and performance obligations

Why Is Satisfaction Method a key element of a Performance Obligation?

A. because it determines whether revenue for a good or service is recognized Over Timeor Point in Time

B. because it calculates the amount of Total Transaction Price allocated to date

C. because it calculates the percentage of Total Transaction Price allocated to date

D. because it specifies whether revenue has been fully or partially recognized for a good or service

Which configuration component is Source Document TypeNOTconnected to?

A. Revenue Management System Options

B. Performance Obligation Template

C. Contract Identification Rules

D. Revenue Price Profile

E. Performance Obligation Identification Rules

Which three tasks can be performed In the Revenue Management Work Area?

A. Edit ContractIdentification 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.

Which is NOT a predefined Accounting Class for Revenue Management?

A. Contract Discount

B. Contract Liability

C. Contract Unearned Revenue

D. Contract Asset

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?

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.

What is a Performance Obligation?

A. a combination of customer type and product code

B. a product code or SKU

C. a promise to a customer on which either party has acted

D. a promise to a customer

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?

A. Reason

B. Pricing Dimension

C. Item Identifier

D. Performance Obligation Template

E. Tolerance ranges

F. SSP Type

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

A. a shipment

B. a performance obligation

C. an invoice

D. promisedetail