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| Section | Objectives |
|---|---|
| Revenue Recognition Processing | - Revenue recognition events
|
| Implementation and Configuration | - Setup and functional configuration
|
| Revenue Management Cloud Service Fundamentals | - Core concepts of Revenue Management Cloud
|
| Integration and Reporting | - Integration with Oracle Cloud ERP
|
1. After analyzing sales documents for your organization, you conclude that it will be appropriate to group transaction lines by customer to create contracts In Revenue Management.
Which predefined Contract Identification Rule can be used in this case?
A) Identify Customer Contract Based on Source System
B) Identify Customer Contract Based on Source Document Line
C) Identify Customer Contract Based on Party
D) Identify Customer Contract Based on Source Document
2. 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) Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
B) 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
C) Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized
D) 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
E) Time-based contingencies must not expire before the contingency can be removed and revenue recognized
3. Which two are choices for the Satisfaction Method when defining a Performance Obligation Identification Rule?
A) allow complete
B) allow partial
C) require complete
D) require partial
4. In order to have Revenue Management calculate Observed Standalone Selling Prices, four steps must be completed.
Which two are NOT included in the four step process?
A) Run the Calculate Observed Standalone Selling Prices program.
B) Close the previous period.
C) Categorize standalone sales by performance obligation.
D) Approve the OSSP by establishing it.
E) Run Create Accounting.
F) Review the calculated OSSP.
5. You have defined 3 Contract Identification rules: Rule A, Rule B, and Rule C. You then decide that Rule C needs to be the first rule executed when the "Identify Customer Contracts" process runs.
Which attribute needs to be updated to achieve this objective?
A) Priority
B) Default Classification
C) Freeze Period
D) Source Document Type
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A,B | Question # 3 Answer: B,C | Question # 4 Answer: A,C | Question # 5 Answer: A |
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