Question 1

Given your organization's Interactions with one of Its customers:A consultant is deployed to assist customer on 10-Sep-2017.A Sales order is booked on 14-Sep-2017.The Product is shipped on 15-Sep-2017.An Invoice is issued on 20-Sep-2017.When do you accrue the contract liability?

Options :

A : when the consultant is deployed to assist customer on 10-Sep-2017

B : when the product is shipped on 15-Sep-2017

C : when the sales order Is booked on 14-Sep-2017

D : when an invoice is issued on 20-Sep-2017

Answer: A

Question 2

In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must becompleted.Which two are NOT included in the four step process?

Options :

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 Accounting.

Answer: A,C

Question 3

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

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

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

Options :

A : Wether Dynamic Combination Creation Allowed is enabled

B : The value sets

C : The Query Required option

D : The Displayed option

E : The shape: Same nunmber of segments and order

Answer: A,B

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