Online Access Free 1Z0-1059-21 Practice Test

Which setup component Is NOT connected to a Revenue Price Profile?

• A.Items
• B.Contract Identification Rules
• C.Pricing Dimension Segments
• D.Source Document Types

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 an exclusion rule to exclude customer classes that are "Retail"
• B.By defining a grouping rule on the customer class
• C.By defining an item group and assigning that to the rule
• D.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
• E.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

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

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

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.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
• B.Payment-based contingencies do not always require payment before the contingency can be removed and revenue recognized
• C.Post-billing customer acceptance clauses must expire (implicit acceptance), or be manually accepted (explicit acceptance), before the contingency can be removed and revenue recognized.
• D.Time-based contingencies must not expire before the contingency can be removed and revenue recognized
• E.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 must occur before the contingency can be removed and the order can be imported into Receivables for invoicing.

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?

• A.the value sets
• B.whether Dynamic Combination Creation Allowed is enabled
• C.the shape: Same number of segments and order
• D.the Query Required option
• E.the Displayed option