1z1-974 by Oracle Valid Free Exam Practice Test

Question 1

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

Correct Answer: C

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Question 2

What should E-Business Suite General Ledger and Oracle Cloud General Ledger do as part of the transition to the new standard strategy under ASC 606 and IFRS 15?

A. Create a new primary ledger. B. Using their existing primary ledger. C. Create a secondary ledger. D. Create a reporting ledger.

Correct Answer: B

Question 3

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 HTML FBDI template. C. It is a predefined Java FBDI template. D. It is a custom template that you are required to build.

Correct Answer: A

Question 4

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

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

Correct Answer: B,C,E

Question 5

What is a Standalone Selling Price (SSP)?

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

Correct Answer: D

Question 6

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

Correct Answer: B,D

Oracle Revenue Management Cloud Service 2017 Implementation Essentials - 1z1-974 Exam Practice Test