Online Access Free 1Z1-1059 Exam Questions

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

• A.Source System
• B.Currency code of source document
• C.Source Document Unique Identifier Number 1
• D.Source Document Type code
• E.Date of source Document
• F.Record Type

What is a contract modification?

• A.a change (modification) to the contract data
• B.an increase or decrease in expected collectability
• C.a change to the contract caused by negotiation with the customer
• D.a revision or correction to the estimate of variable consideration made at inception

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?

• A.HTML
• B.PDF
• C.Flat File
• D.PowerPoint

Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?

• A.You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
• B.You value the accrual at estimated consideration and it is a monetary debt.
• C.Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
• D.You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
• E.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.

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.3
• B.5
• C.0
• D.1
• E.4