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Oracle 1z0-1059-22 Exam Syllabus Topics:TopicDetailsTopic 1Explain Contracts, Performance Obligations and Contract Maintenance Revenue Management OverviewTopic 2Standalone Selling Price and Related Configurations Analyze Accounting in Revenue ManagementTopic 3Configure The Revenue Management Application Process Customer Contract Source DocumentsTopic 4Explain Revenue Principles (including new revenue recognition guidance under ASC 606 and IFRS 15)Topic 5Configure and Manage Standalone Selling Prices Describe The Revenue Management User Interface
Oracle Revenue Management Cloud Service 2022 Implementation Professional Sample Questions (Q26-Q31):

NEW QUESTION # 26
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. Performance Obligation SatisfiedB. Standalone Selling Prices AllocatedC. Initial PerformanceD. Revenue RecognizedE. Performance Obligation Billed

Answer: A,C,D

NEW QUESTION # 27
Why Is Satisfaction Method a key element of a Performance Obligation?

A. because it calculates the percentage of Total Transaction Price allocated to dateB. because it specifies whether revenue has been fully or partially recognized for a good or serviceC. because it determines whether revenue for a good or service is recognized Over Time or Point in TimeD. because it calculates the amount of Total Transaction Price allocated to date

Answer: C

NEW QUESTION # 28
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. Using their existing primary ledger.C. Create a secondary ledger.D. Create a new primary ledger.

Answer: B

NEW QUESTION # 29
Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?

A. by calculating Total Transaction Price for contractsB. by identifying and creating one or more performance obligations for a given accounting contractC. by restricting users from excluding contract linesD. by allowing manual allocation of Total Transaction Price across performance obligationsE. by only creating contracts that are source system specificF. by grouping source document lines intro contracts for each identified customer

Answer: D,E,F

NEW QUESTION # 30
Oracle Revenue Management is part of_____________________predefined offering.

A. Incentive CompensationB. Enterprise ContractsC. FinancialsD. Fusion Accounting Hub

Answer: C

NEW QUESTION # 31
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