Oracle 1z0-974 Test Prep 2021

NEW QUESTION 1
Which statement Is True regarding the Customer Contract Source Data Import Template?

• A. It is a predefined Excel FBDI template.
• B. It is a predefined Java FBDI template.
• C. It Is a predefined HTML FBDI template.
• D. It is a custom template that you are required to buil

Answer: A

NEW QUESTION 2
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

• A. You accrue for goods and services that you owe to customers because either you or they have relied on the contrac
• B. You no longer defer revenue.
• C. You value the accrual at estimated consideration and it is a monetary debt.
• D. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
• E. You calculate the liability at inception and book it when either party act
• F. An Act could be shipping or invoicing.
• G. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

Answer: C

NEW QUESTION 3
Which three tasks can be performed In the Revenue Management Work Area?

• A. Edit Contract Identification Rules.
• B. Review Observed Standalone Selling Prices.
• C. Manage contracts in "Pending Review" status.
• D. Manage contracts in "Pending Allocation" status.
• E. Review Performance Satisfaction Plans.
• F. Review Revenue Price Profile

Answer: BCD

NEW QUESTION 4
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 Satisfied
• B. Performance Obligation Billed
• C. Initial Performance
• D. Revenue Recognized
• E. Standalone Selling Prices Allocated

Answer: ACD

NEW QUESTION 5
You have defined 3 Contract Identification rules: Rule A, Rule B, and Rule C. You then decide that Rule C needs to be the first rule executed when the "Identify Customer Contracts" process runs. Which attribute needs to be updated to achieve this objective?

• A. Freeze Period
• B. Default Classification
• C. Source Document Type
• D. Priority

Answer: D

NEW QUESTION 6
What does a Variable Consideration require?

• A. an estimate of the consideration be made at inception only
• B. that the consideration be monetary
• C. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized
• D. a disclosure be made to the shareholders

Answer: A

NEW QUESTION 7
You define a Performance Obligation Identification Rule that uses the following matching attribute to group source document lines:
Extensible Line Character Attribute 7 Based on the data displayed:

• A. 3
• B. 4
• C. 2
• D. 1

Answer: A

NEW QUESTION 8
Why are Source Document Type Codes required when defining Source Document Types?

• A. Because they are Revenue Management Descriptive Flexfields.
• B. Because they are needed for integration with Product Management.
• C. Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.
• D. Because they provide uniqueness to the Source Document Type

Answer: D

NEW QUESTION 9
The Contracts Requiring Attention user Interface has three tabs: Pending Review, Pending Allocation, and Pending Revenue Recognition.
What would cause a contract to be In the Pending Review tab?

• A. The total Transaction Price is over the user-defined threshold amount.
• B. The contract is missing standalone selling prices at the promised detail level or at obligation level.
• C. The contract is missing satisfaction events.
• D. The contract is missing Billing dat

Answer: A

NEW QUESTION 10
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.
What needs to be done in Revenue Management to convert transaction amounts to the USD currency?

• A. Create source document types specifically for Euro documents.
• B. Populate exchange rates in Revenue Price Profile.
• C. Populate Conversion Rate Type in System Options.
• D. Create revenue prices in the Euro currenc

Answer: C

NEW QUESTION 11
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. Apply appropriate patches to EBS.
• B. Run the Deploy System Options process.
• C. Set the Profile Option AR: Source System Value for Revenue Management.
• D. Map the EBS Chart of Accounts to the Cloud General Ledger.
• E. Set the System Options in EBS Receivables on the Revenue Management ta

Answer: BD

NEW QUESTION 12
After analyzing sales documents for your organization, you conclude that it will be appropriate to group transaction lines by customer to create contracts In Revenue Management.
Which predefined Contract Identification Rule can be used in this case?

• A. Identify Customer Contract Based on Party
• B. Identify Customer Contract Based on Source Document Line
• C. Identify Customer Contract Based on Source Document
• D. Identify Customer Contract Based on Source System

Answer: A

NEW QUESTION 13
What is a Standalone Selling Price (SSP)?

• A. the average of your bundled price
• B. the sum of the SSPs of the components
• C. the list price
• D. the price you would use if you sold to a customer separately

Answer: D

NEW QUESTION 14
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 Discount Allocation Account at the contract line level.
• B. It tracks the difference in a Write-off Allocation Account at the contract level.
• C. It tracks the difference In a Discount Allocation Account at the contract level.
• D. It Tracks the difference in a Write-Off Allocation Account at the contract line leve

Answer: C

NEW QUESTION 15
The predefined Revenue Contract Account Activities report originally had only one output option of spreadsheet.
Which output option can you now also choose to assist In handling a large number of records?

• A. HTML
• B. PowerPoint
• C. Flat File
• D. PDF

Answer: C

NEW QUESTION 16
A furniture store Is running a promotion for a toaster with the purchase of a sofa or chair set. Data about the free toaster is not captured in any upstream application.
How should you handle this scenario In Revenue Management?

• A. Ignore the performance obligation for the toaster because it was free of cost to the customer.
• B. Define an Implied Performance Obligation Template to automatically add a performance obligation for the toaster.
• C. Create the performance obligation for the toaster manually.
• D. Define an adhoc rule in the Revenue Price Profile to include the toaste

Answer: B