Free Oracle 1Z0-1059-21 Practice Test & Real Exam Questions

Exam Code/Number: 1Z0-1059-21
Exam Name/Title: Oracle Revenue Management Cloud Service 2021 Implementation Essentials
Certification Provider: Oracle
Corresponding Certification: Oracle Cloud

Exam Questions: 82
Updated On: Aug 04, 2026

Question #10

Given It Is critical to capture common link values In one or more attributes on the source document lines in order to build effective Performance Obligation Identification Rules, how many User Extensible Fields does Revenue Management provide to facilitate the capture of this data?

A. 10 User Extensible Fields

B. 50 User Extensible Fields

C. 60 User Extensible Fields

D. 90 User Extensible Fields

Discussion 0

Correct Answer: A Vote an answer

Question #11

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. Run the Deploy System Options process.

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

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.

Discussion 0

Correct Answer: A,D Vote an answer

Question #12

Which statement is true regarding natural accounts: Contract Liability, Contract Asset, Price Variance, and Contract Discount?

A. These accounts are not relevant to Revenue Management.

B. These accounts are optional in Revenue Management.

C. If nonexistent, these accounts are added automatically to the chart of accounts.

D. If nonexistent, these accounts need to be added to the chart of accounts.

Discussion 0

Correct Answer: C Vote an answer

Question #13

Which is NOT a Price Band Type?

A. Set Band

B. Percentage Band

C. Amount Band

D. Quantity Band

Discussion 0

Correct Answer: B Vote an answer

Question #14

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

A. by grouping source document lines intro contracts for each identified customer

B. by calculating Total Transaction Price for contracts

C. by identifying and creating one or more performance obligations for a given accounting contract

D. by restricting users from excluding contract lines

E. by only creating contracts that are source system specific

F. by allowing manual allocation of Total Transaction Price across performance obligations

Discussion 0

Correct Answer: A,E,F Vote an answer

Question #15

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 secondary ledger.

B. Using their existing primary ledger.

C. Create a reporting ledger.

D. Create a new primary ledger.

Discussion 0

Correct Answer: B Vote an answer

Question #16

When deciding how to set up the system to recognize revenue, it is important to understand the extent of revenue deferral and the subsequent timing of revenue recognition. Which two statements are true when you consider that recognition depends on the nature of the contingency? (Choose two)

A. Pre-billing customer acceptance clauses require the recording of customer acceptance in the feeder system, or its expiration, before importing into Receivables for invoicing. Customer acceptance or its expiration must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

B. Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.

C. Time-based contingencies can expire, but the contingency will have to be removed manually before the revenue is recognized if payment is not due yet

D. Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized

E. Time-based contingencies must not expire before the contingency can be removed and revenue recognized

Discussion 0

Correct Answer: A,B Vote an answer

Question #17

At which level does Oracle Revenue management perform accounting?

A. Contract level

B. Legal entity level

C. Performance obligation level

Discussion 0

Correct Answer: C Vote an answer

Question #18

Before uploading Estimated Standalone Selling Prices (SSP), you must populate a spreadsheet with some required data.
Besides Unit SSP Price, Currency and Unit of Measure, which three additional attributes are required when loading prices for items, memo lines and/or Item groups?

A. Pricing Dimension

B. Item Identifier

C. Tolerance ranges

D. Performance Obligation Template

E. Reason

F. SSP Type

Discussion 0

Correct Answer: A,C,F Vote an answer

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