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Exam Code: 1z0-1059-20
Exam Title: Oracle Revenue Management Cloud Service 2020 Implementation Essentials
Vendor: Oracle
Exam Questions: 74
Last Updated: December 18th,2024

Question 1

What is a contract modification?

A. a change to the contract caused by negotiation with the customer
B. a revision or correction to the estimate of variable consideration made at inception
C. a change (modification) to the contract data
D. an increase or decrease in expected collectability

Correct Answer:A

Question 2

Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?

A. by identifying and creating one or more performance obligations for a given accounting contract
B. by calculating Total Transaction Price for contracts
C. by only creating contracts that are source system specific
D. by allowing manual allocation of Total Transaction Price across performance obligations
E. by restricting users from excluding contract lines
F. by grouping source document lines intro contracts for each identified customer

Correct Answer:CDF

Question 3

Given your organization's Interactions with one of Its customers:
1Z0-1059-20 dumps exhibit A consultant is deployed to assist customer on 10-Sep-2017.
A Sales order is booked on 14-Sep-2017.
The Product is shipped on 15-Sep-2017.
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 4

Given the Standalone Selling Price Profile combines all the key setup attributes of pricing Into one place, you create all standalone selling prices from the Standalone Selling Price Profiles for all Items or groups of items.
Which three setup attributes are part of a Standalone Selling Price Profile?

A. Observed Standalone Selling Prices
B. Estimated Standalone Selling Prices
C. Pricing Dimension Assignment
D. SSP Tolerance Usage
E. Items

Correct Answer:ABC

Question 5

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

Correct Answer:D
https://docs.oracle.com/cloud/farel12/financialscs_gs/FAIRP/FAIRP2288193.htm#FAIRP2456627