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How to Prepare For Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam
Preparation Guide for Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam
Introduction
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NEW QUESTION 42
If the Contract Identification Rules that you defined for your customer did not group the source data into customer as expected, how would you resolve the issue?
- A. Delete Contracts from the Manage Customer Contracts Ul.
- B. Delete the performance obligations from the relevant contracts through the Manage Customer Contracts Ul.
- C. Run the Discard Customer Contracts program for the relevant contracts, define a new, higher-priority Contract Identification Rule, and run The Identify Customer Contracts program again.
- D. Delete the source data that was imported into Revenue Management and import new source data.
- E. Run the Discard Customer Contracts program for the relevant contracts and run the Identify Customer contracts program again.
Answer: C
NEW QUESTION 43
Revenue Management creates journal entries from a contract In order to recognize revenue properly. Which three event types are used by Revenue Management to create these journal entries?
- A. Standalone Selling Prices Allocated
- B. Revenue Recognized
- C. Performance Obligation Billed
- D. Performance Obligation Satisfied
- E. Initial Performance
Answer: B,D,E
NEW QUESTION 44
Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?
- A. when a value set segment label of Set Band is used
- B. when a source document type is enabled to use pricing bands
- C. when a pricing dimension structure Instance Is enabled for pricing bands
- D. when a pricing dimension structure is enabled for pricing bands
Answer: D
NEW QUESTION 45
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?
- A. The contract is missing standalone selling prices at the promised detail level or at obligation level.
- B. The contract is missing Billing data.
- C. The contract is missing satisfaction events.
- D. The total Transaction Price is over the user-defined threshold amount.
Answer: D
Explanation:
Explanation
Accounting contracts with a total transaction price that is greater than the user-defined threshold amount you defined in your system options. Contracts in this list are significant value contracts.
NEW QUESTION 46
A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?
- A. Create source document types specifically for Euro documents.
- B. Populate Conversion Rate Type in System Options.
- C. Create revenue prices in the Euro currency.
- D. Populate exchange rates in Revenue Price Profile.
Answer: B
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/define-revenue-management.html#FAFRM
NEW QUESTION 47
What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?
- A. Create a reporting ledger.
- B. Create a secondary ledger.
- C. Using their existing primary ledger.
- D. Create a new primary ledger.
Answer: C
NEW QUESTION 48
Which three tasks are associated with defining a Pricing Dimension Structure?
- A. Analyze pricing policies across products and services.
- B. Define up to 30 segments and name them.
- C. Assign required segment labels to each segment.
- D. Define up to 20 segments and name them.
- E. Create multiple instances for a given Pricing Dimension Structure.
- F. Include user friendly prompts for each segment.
Answer: A,B,C
NEW QUESTION 49
Which is Not a required piece of information when importing contract header information from a source file?
- A. Currency code of source document
- B. Source Document Type code
- C. Source System
- D. Source Document Unique Identifier Number 1
- E. Record Type
- F. Date of source Document
Answer: D
NEW QUESTION 50
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 level.
- B. It Tracks the difference in a Write-Off Allocation Account at the contract line level.
- C. It tracks the difference in a Discount Allocation Account at the contract line level.
- D. It tracks the difference in a Write-off Allocation Account at the contract level.
Answer: C
NEW QUESTION 51
You define a Contract Identification Rule that uses the following source document attributes to match transaction lines:
Bill-to Customer Party Identifier
Extensible Header Character Attribute 4
Based the data displayed:
How many contracts will be created In Revenue Management?
- A. 0
- B. 1
- C. 2
- D. 3
- E. 4
Answer: A
NEW QUESTION 52
Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
- A. allow partial
- B. require partial
- C. require complete
- D. allow complete
Answer: A,C
Explanation:
Explanation
https://docs.oracle.com/en/cloud/saas/financials/r13-update18a/fafrm/recognize-revenue.html#FAFRM2321853
NEW QUESTION 53
Which three statements about Effective Periods are true?
- A. You cannot have overlapping periods.
- B. Gaps between periods are not allowed.
- C. If effective periods are not defined. Revenue Management uses the General Ledger calendar.
- D. Effective Periods only define the rage where standalone selling prices of an item should be effective.
- E. Effective Periods are used for standalone selling prices and for creating journal entries.
Answer: A,D,E
NEW QUESTION 54
A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How should you configure Revenue management to ensure that these items are grouped into one performance obligation?
- A. By defining a Contact Identification Rule.
- B. By defining a Performance Obligation Template.
- C. By defining a Standalone Selling Price Profile.
- D. By defining a Revenue Item Group
Answer: D
NEW QUESTION 55
Which is a term under ASC 606 or IFRS 15?
- A. initial performance event
- B. promise detail
- C. requires complete
- D. transaction price
Answer: D
NEW QUESTION 56
A furniture store is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?
- A. Define an adhoc rule in the Revenue Price Profile to include the toaster.
- B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.
- C. Ignore the performance obligation for the toaster because it was free of cost to the customer.
- D. Create the performance obligation for the toaster manually.
Answer: B
NEW QUESTION 57 
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
- A. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.
- B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
- C. Revenue Management can only integrate to Fusion Receivables.
- D. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
Answer: A,C
NEW QUESTION 58
Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?
- A. your debt to customers for goods and services you are obliged to deliver to them by either party acting
- B. Unearned Revenue
- C. your debt to customers for goods and services you are obliged to deliver to them by either party acting less your right to invoice them for those goods and services once delivered
- D. your invoiced goods and services less those goods and services that you have not yet delivered
Answer: A
NEW QUESTION 59
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. Run the Calculate Observed Standalone Selling Prices program to derive prices.
- B. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.
- C. Navigate to the "Manage Revenue Price Profiles" page and enter estimated prices manually in the browser user interface.
- D. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.
Answer: A
Explanation:
Explanation
https://docs.oracle.com/cloud/farel12/financialscs_gs/OEDMF/VRM_CUSTOMER_CONTRACT_HEADERS_
NEW QUESTION 60
Which three tasks can be performed In the Revenue Management Work Area?
- A. Edit Contract Identification Rules.
- B. Review Performance Satisfaction Plans.
- C. Manage contracts in "Pending Review" status.
- D. Review Revenue Price Profiles.
- E. Review Observed Standalone Selling Prices.
- F. Manage contracts in "Pending Allocation" status.
Answer: C,E,F
NEW QUESTION 61
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?
- A. Oracle Revenue Management Cloud
- B. Oracle Receivables
- C. Oracle General Ledger
- D. Oracle Subledger Accounting
Answer: A,D
NEW QUESTION 62
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Introduction to Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam
Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Exam is designed for candidates who have knowledge and skills in revenue management of the Oracle cloud services or candidates who willing to have a strong understanding of revenue and cost management of the Oracle cloud services can go ahead and appear for this exam.
Oracle Revenue Management Cloud Service 2020 Implementation Essentials 1z0-1059-20 Certification Path
The 1z0-1059-20 Certification is basic level certification organized by Oracle mainly focussing on revenue management of the Oracle cloud services skillset. There is no prerequisite for this exam.
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