Oracle Revenue Management Cloud Service 2017 Implementation Essentials (1z1-974) Free Practice Test

Question 1

What does the creation of an allocation allow you to determine?

A. the ability not to revise previously reported revenue for revision, corrections, and other changes

B. the fair value of each performance obligation

C. an allocation of the expected consideration over the performance obligations as if you had sold them separately

D. the maximum amount of revenue you can recognize soonest, postponing the minimum until later

Correct Answer: B

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Question 2

The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill.......

What is the difference between Selling Amount and Allocated Amount?

A. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amount. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.

B. The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amount. The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.

C. The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document upload. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.

D. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculation. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.

Correct Answer: C

Question 3

Which is the correct definition of the Performance Obligation Liability on the balance sheet, replacing the Deferred Revenue liability?

A. Unearned Revenue

B. your debt to customers for goods and services you are obliged to deliver to them by either party acting

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

Correct Answer: B

Question 4

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 Write-off 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 Discount Allocation Account at the contract level.

Correct Answer: C

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?

A. Run the Deploy System Options process.

B. Map the EBS Chart of Accounts to the Cloud General Ledger.

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

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

E. Apply appropriate patches to EBS.

Correct Answer: A,B

Question 6

Given It Is critical to capture common link values In one or more attributes on the source document lines in order to build effective Performance Obligation Identification Rules, how many User Extensible Fields does Revenue Management provide to facilitate the capture of this data?

A. 60 User Extensible Fields

B. 90 User Extensible Fields

C. 10 User Extensible Fields

D. 50 User Extensible Fields

Correct Answer: C

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Oracle Revenue Management Cloud Service 2017 Implementation Essentials (1z1-974) Free Practice Test