Online 1Z0-1059-25 Practice Test

Question 1

The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and

Pending Revenue Recognition.

What would cause a contract to be In the Pending Review tab?

Options :

A : The total Transaction Price is over the user-defined threshold amount.

B : The contract is missing standalone selling prices at the promised detail level or at obligation level.

C : The contract is missing satisfaction events.

D : The contract is missing Billing data.

Answer: A

Question 2

Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

Options :

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 P&L 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.

Answer: A

Question 3

Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?

Options :

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

Answer: B

Question 4

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

Options :

A : because it determines whether revenue for a good or service is recognized Over Time or 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

Answer: A

Question 5

Given Oracle Revenue Management Cloud has predefined integration with Oracle E-Business Suite Financials, which two steps are NOT part of the steps to configure EBS for integration with Revenue Management Cloud?

Options :

A : Apply appropriate patches to EBS.

B : Run the Deploy System Options process.

C : Set the Profile Option AR: Source System Value for Revenue Management.

D : Map the EBS Chart of Accounts to the Cloud General Ledger.

E : Set the System Options in EBS Receivables on the Revenue Management tab.

Answer: B,D

EXPERTY DESIGNED 1Z0-1059-25 PRACTICE TEST