Question 1

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

Options :

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 data.

Answer: A

Question 2

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

Options :

A : HTML

B : PowerPoint

C : Flat File

D : PDF

Answer: C

Question 3

Which two are incorrect statements about the Oracle Fusion Receivables Transaction Sources section in the Manage Revenue Management System Options page?

Options :

A : Revenue Management can only integrate to Fusion Receivables.

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

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

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

Answer: A,D

Question 4

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

Options :

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: C

Question 5

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

Options :

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 P&L 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.

Answer: A

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