Question 1

Which three statements about Effective Periods are true?

Options :

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: A,B,D

Question 2

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 : whether Dynamic Combination Creation Allowed is enabled

B : the shape: Same number of segments and order

C : the Displayed option

D : the value sets

E : the Query Required option

Answer: A,B

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

Given Revenue Management uses the Subledger Accounting engine to create journal entries from customer contracts, which Is NOT a predefined Accounting Class?

Options :

A : Contract Asset

B : Contract Price Variance

C : Contract Liability

D : Contract Revenue

E : Contract Expense

F : Contract Clearing

Answer: A

Question 5

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

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