Online Access Free 1z0-1059-22 Exam Questions

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

• A.by calculating Total Transaction Price for contracts
• B.by restricting users from excluding contract lines
• C.by identifying and creating one or more performance obligations for a given accounting contract
• D.by grouping source document lines intro contracts for each identified customer
• E.by allowing manual allocation of Total Transaction Price across performance obligations
• F.by only creating contracts that are source system specific

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.Approve the OSSP by establishing it.
• B.Run the Calculate Observed Standalone Selling Prices program.
• C.Review the calculated OSSP.
• D.Run Create Accounting.
• E.Close the previous period.
• F.Categorize standalone sales by performance obligation.

Which configuration component is Source Document Type NOT connected to?

• A.Revenue Management System Options
• B.Performance Obligation Template
• C.Contract Identification Rules
• D.Revenue Price Profile
• E.Performance Obligation Identification Rules

In Revenue Management the Selling Amount and Allocated Amount may be different. How does Revenue Management account for this difference?

• A.It tracks the difference in a Discount Allocation Account at the contract line level.
• B.It tracks the difference in a Write-off Allocation Account at the contract level.
• C.It Tracks the difference in a Write-Off Allocation Account at the contract line level.
• D.It tracks the difference In a Discount Allocation Account at the contract level.

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

• A.Revenue and performance obligation liabilities are not dependent on billing.
• B.Pricing estimates cannot be used In the absence of pricing data.
• C.Expected consideration value is applicable to all industries.
• D.Revenue can be recognized for performance obligations only using the "Point in Time" approach.