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Exam Name:	Oracle Revenue Management Cloud Service 2024Implementation Essentials
Exam Code:	1z0-1059-24 Dumps
Vendor:	Oracle	Certification:	Revenue Management Cloud
Questions:	83 Q&A's	Shared By:	katie

Question 16

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

Options:

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.

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

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

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

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

Discussion

Question 17

Which three statements about Effective Periods are true?

Options:

If effective periods are not defined. Revenue Management uses the General Ledger calendar.

Effective Periods are used for standalone selling prices and for creating journal entries.

Gaps between periods are not allowed.

You cannot have overlapping periods.

Effective Periods only define the rage where standalone selling prices of an item should be effective.

Discussion

Question 18

The predefined Revenue Contract Account Activities Report provides data extracted from which two sources?

Options:

Oracle Revenue Management Cloud

Oracle Receivables

Oracle General Ledger

Oracle Subledger Accounting

Discussion

Question 19

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?

Options:

when the consultant is deployed to assist customer on 10-Sep-2017

when the product is shipped on 15-Sep-2017

when the sales order Is booked on 14-Sep-2017

when an invoice is issued on 20-Sep-2017

Discussion

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