Question 1

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 2

The predefined Revenue Contract Account Activities report originally had only one output option of

spreadsheet.

Which output option can you now also choose to assist In handling a large number of records?

Options :

A : HTML

B : PowerPoint

C : Flat File

D : PDF

Answer: C

Question 3

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

Question 4

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

Options :

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.

Answer: A,D

Question 5

Which is Not a required piece of information when importing contract header information from a source file?

Options :

A : Source System

B : Source Document Type code

C : Record Type

D : Currency code of source document

E : Source Document Unique Identifier Number 1

F : Date of source Document

Answer: A

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