Oracle 1z0-974 Exam Questions and Answers 2021

NEW QUESTION 1
Which three statements about Effective Periods are true?

• A. If effective periods are not define
• B. Revenue Management uses the General Ledger calendar.
• C. Effective Periods are used for standalone selling prices and for creating journal entries.
• D. Gaps between periods are not allowed.
• E. You cannot have overlapping periods.
• F. Effective Periods only define the rage where standalone selling prices of an item should be effective.

Answer: CDE

NEW QUESTION 2
Which three types of reference data critical to the Integration of a source system need to be synchronized between an external system and Revenue Management?

• A. Suppliers
• B. Business Units
• C. Customers
• D. Inventory items
• E. Receivables configurations
• F. Banks, branches and bank accounts

Answer: BCD

NEW QUESTION 3
Why Is Satisfaction Method a key element of a Performance Obligation?

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

Answer: D

NEW QUESTION 4
Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which Is NOT a predefined Accounting Class?

• A. Contract Asset
• B. Contract Price Variance
• C. Contract Liability
• D. Contract Revenue
• E. Contract Expense
• F. Contract Clearing

Answer: E

NEW QUESTION 5
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 Standalone Selling Prices and is used for the Revenue Recognition amoun
• B. 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 uploa
• D. The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.
• E. The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculatio
• F. The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.
• G. The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amoun
• H. The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.

Answer: B

NEW QUESTION 6
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 is enabled for pricing bands
• B. when a source document type is enabled to use pricing bands
• C. when a pricing dimension structure Instance Is enabled for pricing bands
• D. when a value set segment label of Set Band is used

Answer: A

NEW QUESTION 7
Which, when transferred to a customer, allows you to recognize revenue?

• A. a shipment
• B. a performance obligation
• C. an invoice
• D. promise detail

Answer: B

NEW QUESTION 8
How many tabs does the Customer Contract Source Data Import Template have?

• A. four tabs that store data for theVRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, andVRM_PERF_OBLIG tables respectively
• B. three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively
• C. two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively
• D. one tab that stores data for the VRM_SOURCE_DOCUMENTS table

Answer: B

NEW QUESTION 9
Which statement is NOT applicable to Performance Obligation Templates?

• A. Oracle delivers three predefined Performance Obligation Templates,
• B. Performance Obligation Templates are specific to the business and cannot be predefined.
• C. Performance Obligation Templates take precedence over Performance Obligation Rules.
• D. Performance Obligation Templates can be associated to a Revenue Price Profil

Answer: A

NEW QUESTION 10
Which three attributes are helpful in defining a Contract Identification Rule?

• A. Product Description
• B. Quote Number
• C. Delivery Address
• D. Bill To Customer
• E. Ledger
• F. Business Unit

Answer: ABD

NEW QUESTION 11
Which three statements describe how Revenue Management creates accounting contracts to meet the new ASC 606 / IFRS 15 revenue recognition standards?

• A. by identifying and creating one or more performance obligations for a given accounting contract
• B. by calculating Total Transaction Price for contracts
• C. by only creating contracts that are source system specific
• D. by allowing manual allocation of Total Transaction Price across performance obligations
• E. by restricting users from excluding contract lines
• F. by grouping source document lines intro contracts for each identified customer

Answer: ABF

NEW QUESTION 12
Which two are intended uses for the Standalone Selling Price Report Dashboard?

• A. Review performance obligations by effective period.
• B. Diagnose revenue price profile.
• C. Drill down to data used to derive standalone selling prices.
• D. Monitor transaction price calculation and allocation.
• E. Analyze standalone selling prices for one or multiple effective period

Answer: CE

NEW QUESTION 13
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. Revenue can be recognized for performance obligations only using the "Point in Time" approach.
• C. Pricing estimates cannot be used In the absence of pricing data.
• D. Expected consideration value is applicable to all industrie

Answer: AD

NEW QUESTION 14
One way to upload customer contract data from a source system is through File Based Data Import (FBDI) using a spreadsheet template provided by Revenue Management.
What is the name of this spreadsheet template?

• A. Customer Contract Source Documents Import
• B. Customer Sales Source Data Import
• C. Customer Contract Source Data Import
• D. Customer Sales Data Source Documents Import

Answer: C

NEW QUESTION 15
Given your organization's Interactions with one of Its customers:
* A consultant is deployed to assist customer on 10-Sep-2021.
* A Sales order Is booked on 14-Sep-2021.
* The Product is shipped on 15-Sep-2021. An invoice is issued on 20-Sep-2021. When do you accrue the contract liability?

• A. when the consultant is deployed to assist customer on 10-Sep-2021
• B. when the product is shipped on 15-Sep-2021
• C. when the sales order Is booked on 14-Sep-2021
• D. when an invoice is issued on 20-Sep-2021

Answer: B

NEW QUESTION 16
Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?

• A. Revenue Management can only integrate to Fusion Receivables.
• B. You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.
• C. You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.
• D. You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.

Answer: AB