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Oracle - 1Z0-1059-24 - Pass-Sure Valid Oracle Revenue Management Cloud Service 2024 Implementation Professional Test Questions

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Oracle Revenue Management Cloud Service 2024 Implementation Professional Sample Questions (Q59-Q64):

NEW QUESTION # 59
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

A. Revenue and performance obligation liabilities are not dependent on billing.
B. Pricing estimates cannot be used In the absence of pricing data.
C. Expected consideration value is applicable to all industries.
D. Revenue can be recognized for performance obligations only using the "Point in Time" approach.

Answer: B,C

NEW QUESTION # 60
What is a Standalone Selling Price (SSP)?

A. the sum of the SSPs of the components
B. the price you would use if you sold to a customer separately
C. the average of your bundled price
D. the list price

Answer: B

NEW QUESTION # 61
When is it required to populate the number of periods and percentage of revenue (seen in the image below) while defining a revenue scheduling rule?

A. when Context Values are populated
B. when the Deferred Revenue box is checked
C. when the Type is Fixed or Variable
D. when it is a business requirement

Answer: C

NEW QUESTION # 62
The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?

A. Oracle Revenue Management Cloud
B. Oracle Subledger Accounting
C. Oracle General Ledger
D. Oracle Receivables

Answer: A,B

NEW QUESTION # 63
Given your organization's Interactions with one of Its customers:
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 product is shipped on 15-Sep-2017
B. when the sales order Is booked on 14-Sep-2017
C. when an invoice is issued on 20-Sep-2017
D. when the consultant is deployed to assist customer on 10-Sep-2017

Answer: D

NEW QUESTION # 64
......

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