Oracle Revenue Management Cloud Service 2022 Implementation Professional

Question 1

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.
Which two options are available In Revenue Management to convert transaction amounts to the USD currency?

A. Enter exchange rate information in Standalone Selling Price Profile.

B. Provide currency conversion details in the Revenue Basis Data Import Template.

C. Enter Conversion Rate Type in System Options.

D. Select Conversion Rate Type in the Source Document Type setup.

E. Run the Revenue Management translation process.

Correct Answer: C,E

Question 2

What is a contract modification?

A. a change to the contract caused by negotiation with the customer

B. a change (modification) to the contract data

C. a revision or correction to the estimate of variable consideration made at inception

D. an increase or decrease in expected collectability

Correct Answer: A

Question 3

Given you can optionally use pricing bands to create standalone selling prices, which setting enables you to use pricing bands?

A. when a pricing dimension structure Instance Is enabled for pricing bands

B. when a value set segment label of Set Band is used

C. when a source document type is enabled to use pricing bands

D. when a pricing dimension structure is enabled for pricing bands

Correct Answer: D

Question 4

Using the two delivered Oracle Transactional Business Intelligence (OTBI) subject areas for Revenue Management, which two reporting objects can users build In the BI catalog?

A. Infolets

B. Infotile

C. Dashboards

D. Analysis

Correct Answer: C,D

Question 5

Which two settings are related to the "Invalid Line Handling" Revenue Management System Option?

A. Reverse line

B. Void contract

C. Preserve contract

D. Reject contract

E. Reject line

Correct Answer: D,E

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Question 6

Your customer ships machines, and can recognize revenue for each machine after the machine has been delivered to a customer without waiting for complete satisfaction of an entire performance obligation. How would
you configure Satisfaction Method (SM) and Satisfaction Measurement Model (SMM) in Revenue Management to recognize revenue for these performance obligations at a point in time?

A. by setting SM to "Allow Partial" and SMM to "Period"

B. by setting SM to "Requires Complete" and SMM to "Percent"

C. by setting SM to "Allow Partial" and SMM to "Quantity"

D. by setting SM to "Requires Complete" and SMM to "Period"

E. by setting SM to "Requires Complete" and SMM to "Quantity"

Correct Answer: D

Question 7

Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?

A. If nonexistent, these accounts need to be added to the chart of accounts.

B. These accounts are optional in Revenue Management.

C. If nonexistent, these accounts are added automatically to the chart of accounts.

D. These accounts are not relevant to Revenue Management.

Correct Answer: C

Question 8

Revenue tracks several amounts associated to a customer contract, for example, selling amount, allocated amount, and billed amount. What is allocated amount?

A. transaction price distributed to each performance obligation

B. transaction price derived from the source system line import

C. revenue recognized for each performance obligation

D. stand-alone selling price assigned to the promised detail line

Correct Answer: A

Question 9

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

A. You value the accrual at estimated consideration and it is a monetary debt.

B. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

C. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

D. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.

E. 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.

Correct Answer: E

Oracle Revenue Management Cloud Service 2022 Implementation Professional - 1z0-1059-22 Exam Practice Test

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