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 #1

What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS 15 versus the old standard?

A. Pricing estimates cannot be used In the absence of pricing data.

B. Revenue and performance obligation liabilities are not dependent on billing.

C. Revenue can be recognized for performance obligations only using the "Point in Time" approach.

D. Expected consideration value is applicable to all industries.

Discussion 0

Correct Answer: A,D Vote an answer

Question #2

Which setup Is required to enable integration between Order Management and Revenue Management?

A. Configure settings In the Order Management section of the Manage Integrations for Revenue Management page.

B. Add Order Management in the Manage Trading Community Source Systems page.

C. Create custom program to extract sales order and fulfillment data from Order Management.

D. Assign Extraction Start Date for source document type DOO Sales Order in the Manage System Options for Revenue Management page.

E. Define a source document type for the Order Management application and set satisfaction measurement model to quantity.

F. Define an Implied performance obligation template to create performance obligations associated to sales orders and return material authorizations.

Discussion 0

Correct Answer: E Vote an answer

Question #3

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

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.

Discussion 0

Correct Answer: A,D Vote an answer

Question #4

You define a Contract Identification Rule that uses the following source document attributes to match transaction lines:
Bill-to Customer Party Identifier
Extensible Header Character Attribute 4
Based the data displayed:

How many contracts will be created In Revenue Management?

A. 4

B. 1

C. 3

D. 5

E. 0

Discussion 0

Correct Answer: C Vote an answer

Question #5

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?

A. when an invoice is issued on 20-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 the consultant is deployed to assist customer on 10-Sep-2017

Discussion 0

Correct Answer: D Vote an answer

Question #6

What is a Standalone Selling Price (SSP)?

A. the price you would use if you sold to a customer separately

B. the sum of the SSPs of the components

C. the average of your bundled price

D. the list price

Discussion 0

Correct Answer: A Vote an answer

Question #7

65-A business entity (your client) sells a computer, monitor, keyboard, and mouse as a single package to consumers. The entity has identified that this bundle is a distinct performance obligation. How would you configure the Performance Obligation Identification Rule to ensure correct grouping of these items?

A. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain the same value for that attribute

B. By defining an exclusion rule to exclude customer classes that are "Retail"

C. By defining a grouping rule on the customer class

D. By defining a grouping on an extensible line attribute and ensuring that the source lines for the specified items contain different values for that attribute

E. By defining an item group and assigning that to the rule

Discussion 0

Correct Answer: D Vote an answer

Question #8

A corporation uses a primary ledger with a currency of USD. The organization's data includes source document lines with amounts expressed in the Euro currency. However, Revenue Management calculates transaction totals, allocations, and creates accounting in the ledger currency.
Which two options are available In Revenue Management to convert transaction amounts to the USD currency?

A. Run the Revenue Management translation process.

B. Enter exchange rate information in Standalone Selling Price Profile.

C. Enter Conversion Rate Type in System Options.

D. Select Conversion Rate Type in the Source Document Type setup.

E. Provide currency conversion details in the Revenue Basis Data Import Template.

Discussion 0

Correct Answer: A,C Vote an answer

Question #9

Why Is Satisfaction Method a key element of a Performance Obligation?

A. because it calculates the amount of Total Transaction Price allocated to date

B. because it specifies whether revenue has been fully or partially recognized for a good or service

C. because it determines whether revenue for a good or service is recognized Over Time or Point in Time

D. because it calculates the percentage of Total Transaction Price allocated to date

Discussion 0

Correct Answer: C Vote an answer

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