1Z0-1059-22 Online Practice Questions and Answers

Which isNOTa required piece of information when importing contract header Information from a source file?

A. Date of Source Document

B. Source Document Type code

C. Record Type

D. Source System

E. Currency code of source document

F. Source Document Unique Identifier Number 1

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

A. Edit ContractIdentification 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 Profiles.

Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?

A. These accounts are optional in Revenue Management.

B. If nonexistent, these accounts need to be added to thechart of accounts.

C. If nonexistent, these accounts are added automatically to the chart of accounts.

D. These accounts are not relevant to Revenue Management.

How can you access an implementation task in Functional Setup Manager. (choose 3)

A. By navigating from the Implementation Project

B. By navigation to an offering's functional area

C. By navigating from the Welcome Springboard

D. By searching

Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which IsNOTa predefined Accounting Class?

A. Contract Asset

B. Contract Price Variance

C. Contract Liability

D. Contract Revenue

E. Contract Expense

F. Contract Clearing

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

The contract Promised Details tabs includes Selling Amount, Allocated Amount, RevenueRecognized, 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 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.

B. 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.

C. 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.

D. 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.

Your organization Is selling a warranty plan to customers that covers appliances for one year. Revenue must be recognized gradually by month until the warranty expires.

Which Revenue Scheduling Rule Type needs tobe defined for the Performance Satisfaction Plan?

A. Fixed Schedule

B. Variable Schedule

C. Daily Revenue Rate, All Periods

D. Daily Revenue Rate, Partial Periods

E. Partial Schedule

F. Daily Revenue Rate

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 contract. You no longer defer revenue.

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

C. You book the invoiced amount to the PandL when you meet the regulatory definition by Industry.

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

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

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. 10 User Extensible Fields

C. 90 User Extensible Fields

D. 50 User Extensible Fields

Which is aterm under ASC 606 or IFRS 15?

A. transaction price

B. promise detail

C. initial performance event

D. requires complete

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 currency.

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" processruns. Which attribute needs to be updated to achieve this objective?

A. Freeze Period

B. Default Classification

C. Source Document Type

D. Priority

After defining a pricing dimension structure for a customer, you must define a pricing dimensionstructure instance. Which two attributes on the structure instance are inherited from the structure definition?

A. whether Dynamic Combination Creation Allowed is enabled

B. the shape: Same number of segments and order

C. the Displayed option

D. the valuesets

E. the Query Required option

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