22 December, 2020

A Review Of Printable 1z0-974 Free Practice Questions

Passleader offers free demo for 1z0-974 exam. "Oracle Revenue Management Cloud Service 2017 Implementation Essentials", also known as 1z0-974 exam, is a Oracle Certification. This set of posts, Passing the Oracle 1z0-974 exam, will help you answer those questions. The 1z0-974 Questions & Answers covers all the knowledge points of the real exam. 100% real Oracle 1z0-974 exams and revised by experts!

Online 1z0-974 free questions and answers of New Version:

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Total 60 questions Full Exam Access

Question 1

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:
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Question 2

Which statement is NOT applicable to Performance Obligation Templates?

Oracle delivers three predefined Performance Obligation Templates,

Performance Obligation Templates are specific to the business and cannot be predefined.

Performance Obligation Templates take precedence over Performance Obligation Rules.

Performance Obligation Templates can be associated to a Revenue Price Profil

Question 3

Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.
In addition to the SSP Value (price) and Currency, which two are required?

SSP Type

Pricing Dimension

Performance Obligation Template

Unit of Measure

Item Identifier

Question 4

What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

Revenue and performance obligation liabilities are not dependent on billing.

Revenue can be recognized for performance obligations only using the "Point in Time" approach.

Pricing estimates cannot be used In the absence of pricing data.

Expected consideration value is applicable to all industrie

Question 5

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

four tabs that store data for theVRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, VRM_SOURCE_DOC_SUB_UNES, andVRM_PERF_OBLIG tables respectively

three tabs that store data for the VRM_SOURCE_DOCUMENTS, VRM_SOURCE_DOC_LINES, and VRM_SOURCE_DOC_SUB_LINES tables respectively

two tabs that store data for the VRM_SOURCE_DOCUMENTS and VRM_SOURCE_DOC_LINES tables respectively

one tab that stores data for the VRM_SOURCE_DOCUMENTS table

Question 6

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

You accrue for goods and services that you owe to customers because either you or they have relied on the contrac

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 act

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.

Question 7

Which configuration component is Source Document Type NOT connected to?

Revenue Management System Options

Performance Obligation Template

Contract Identification Rules

Revenue Price Profile

Performance Obligation Identification Rules

Question 8

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?

Customer Contract Source Documents Import

Customer Sales Source Data Import

Customer Contract Source Data Import

Customer Sales Data Source Documents Import

Question 9

In Revenue Management the Selling Amount and Allocated Amount may be different. How does
Revenue Management account for this difference?

It tracks the difference in a Discount Allocation Account at the contract line level.

It tracks the difference in a Write-off Allocation Account at the contract level.

It tracks the difference In a Discount Allocation Account at the contract level.

It Tracks the difference in a Write-Off Allocation Account at the contract line leve

Question 10

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

Product Description

Quote Number

Delivery Address

Bill To Customer

Ledger

Business Unit

Question 11

Which three statements about Effective Periods are true?

If effective periods are not define

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.

Question 12

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

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

the fair value of each performance obligation

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

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

Question 13

A pricing dimension segment value combination is one of the factors to determine standalone selling prices. This combination is based on the pricing dimension assignment setup.
What does the pricing dimension assignment match the pricing dimension segment combination to?

pricing bands

a pricing dimension structure

the source document types

a pricing dimension structure instance

Question 14

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?

Create source document types specifically for Euro documents.

Populate exchange rates in Revenue Price Profile.

Populate Conversion Rate Type in System Options.

Create revenue prices in the Euro currenc

Question 15

Why are Source Document Type Codes required when defining Source Document Types?

Because they are Revenue Management Descriptive Flexfields.

Because they are needed for integration with Product Management.

Because they are needed for the VRM_SOURCE_DOCUMENTS table to populate extensible attributes.

Because they provide uniqueness to the Source Document Type

Question 16

What is a contract modification?

a change to the contract caused by negotiation with the customer

a revision or correction to the estimate of variable consideration made at inception

a change (modification) to the contract data

an increase or decrease in expected collectability

Question 17

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

It is a predefined Excel FBDI template.

It is a predefined Java FBDI template.

It Is a predefined HTML FBDI template.

It is a custom template that you are required to buil

Question 18

What is the correct match sequence of the descriptions A, B and C against the titles?

B, C, A

A, C, B

C, B, A

C, A, B

A, B, C

B, A, C

Question 19

Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?
1Z0-974 dumps exhibit

Revenue Management can only integrate to Fusion Receivables.

You can add up to 5 Transaction Sources as part of your integration with Fusion Receivables.

You can choose which Transaction Sources in Fusion Receivables integrate to Revenue Management.

You can define date filters in order to consider only relevant data needed to comply with the new revenue recognition standards.

Question 20

Given the Identify Customer Contracts Job set performs many different processes, which action Is NOT performed by this job set?

allocates the SSP to various satisfaction events

creates the accounting for the stages in the process

allocates the SSP to various performance obligations

recognizes revenue if any satisfaction events exist

creates customer contracts and performance obligations

Question 21

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

your invoiced goods and services less those goods and services that you have not yet delivered

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

Unearned Revenue

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

Question 22

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?

Identify Customer Contract Based on Party

Identify Customer Contract Based on Source Document Line

Identify Customer Contract Based on Source Document

Identify Customer Contract Based on Source System

Question 23

Which three statements about Effective Periods are true?

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.

Question 24

Given the Standalone Selling Price Profile combines all the key setup attributes of pricing Into one place, you create all standalone selling prices from the Standalone Selling Price Profiles for all Items or groups of items.
Which three setup attributes are part of a Standalone Selling Price Profile?

Observed Standalone Selling Prices

Estimated Standalone Selling Prices

Pricing Dimension Assignment

SSP Tolerance Usage

Items

Question 25

The contract Promised Details tabs includes Selling Amount, Allocated Amount, Revenue Recognized, and Bill…….
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What is the difference between Selling Amount and Allocated Amount?

The Selling Amount is calculated based on Standalone Selling Prices and is used for the Revenue Recognition amoun

The Allocated Amount is based on the source document sales lines amounts and is ultimately used to tie back to your source document upload.

The Selling Amount is calculated based on the source document sales lines amounts and is used to tie back to your source document uploa

The Allocated Amount is based on Standalone Selling Price and is ultimately used for the Revenue Recognition amount.

The Selling Amount is calculated based on Standalone Selling Prices and is used to tie back to your SSP upload or calculatio

The Allocated Amount is based on the Billed amount and is ultimately used for the Revenue Recognition amount.

The Selling Amount is calculated based on the source document sales lines amount and is used for the Revenue Recognition amoun

The Allocated Amount is based on the Billed Amount and Is used to tie back to your Billing source document upload.

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Total 60 questions Full Exam Access