Oracle 1z0-974 Free Practice Questions

NEW QUESTION 1
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?

• A. pricing bands
• B. a pricing dimension structure
• C. the source document types
• D. a pricing dimension structure instance

Answer: A

NEW QUESTION 2
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 3
In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.
Which two are NOT included in the four step process?

• A. Close the previous period.
• B. Review the calculated OSSP.
• C. Categorize standalone sales by performance obligation.
• D. Approve the OSSP by establishing it.
• E. Run the Calculate Observed Standalone Selling Prices program.
• F. Run Create Accountin

Answer: AF

NEW QUESTION 4
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 5
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 6
A corporation does not have reliable historical Standalone Selling Prices stored In Its source systems. What option is available to help the corporation in this scenario?

• A. Navigate to the "Manage Revenue Price Profiles" page and enter estimated prices manually in the browser user interface.
• B. Load estimated prices to table VRM_SOURCE_DOCUMENTS using SQL script.
• C. Navigate to the "Manage Revenue Price Profiles" page and download spreadsheet template to enter estimated prices manually.
• D. Run the Calculate Observed Standalone Selling Prices program to derive price

Answer: C

NEW QUESTION 7
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 8
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?

• A. SSP Type
• B. Pricing Dimension
• C. Performance Obligation Template
• D. Unit of Measure
• E. Item Identifier

Answer: DE

NEW QUESTION 9
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?

• A. Observed Standalone Selling Prices
• B. Estimated Standalone Selling Prices
• C. Pricing Dimension Assignment
• D. SSP Tolerance Usage
• E. Items

Answer: ACE

NEW QUESTION 10
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 11
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 12
Which three statements about Effective Periods are true?

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

Answer: ACE

Explanation: 20. Which three tasks are associated with defining a Pricing Dimension Structure?
A. Define up to 30 segments and name them.
B. Define up to 20 segments and name them.
C. Analyze pricing policies across products and services.
D. Create multiple instances for a given Pricing Dimension Structure.
E. Include user friendly prompts for each segment.
F. Assign required segment labels to each segment.

NEW QUESTION 13
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 14
When is it required to populate a value for Performance Satisfaction Plan In a Source Document Type?

• A. when the Satisfaction Measurement Model is set to Amount
• B. when the Satisfaction Measurement Model is set to Period
• C. when the Satisfaction Measurement Model is set to Quantity
• D. when the Satisfaction Measurement Model Is set to Percentage

Answer: B

NEW QUESTION 15
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 16
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