Question 1

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 2

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 3

Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?

Options :

A : require complete

B : allow partial

C : allow complete

D : require partial

Answer: A,B

Question 4

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?

Options :

A : Apply appropriate patches to EBS.

B : Run the Deploy System Options process.

C : Set the Profile Option AR: Source System Value for Revenue Management.

D : Map the EBS Chart of Accounts to the Cloud General Ledger.

E : Set the System Options in EBS Receivables on the Revenue Management tab.

Answer: B,D

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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