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Oracle 1Z1-1018 Exam Overview:

Oracle 1Z1-1018 Exam Syllabus Topics:

FAQs for Oracle Revenue Management Cloud Service 2018 Implementation Essentials Candidates

Oracle Revenue Management Cloud Service 2018 Implementation Essentials Sample Questions:

Question 1

Which, when transferred to a customer, allows you to recognize revenue?

A. an invoice
B. a performance obligation
C. promise detail
D. a shipment

Question 2

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. Source Document Type
C. Default Classification
D. Freeze Period

Question 3

When is it required to populate the number of periods and percentage of revenue (seen in the image below) while defining a revenue scheduling rule?

A. when Context Values are populated
B. when it is a business requirement
C. when the Deferred Revenue box is checked
D. when the Type is Fixed or Variable

Question 4

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

A. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
B. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
C. You value the accrual at estimated consideration and it is a monetary debt.
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.

Question 5

You define a Performance Obligation Identification Rule that uses the following matching attribute to group source document lines:
Extensible Line Character Attribute 7
Based on the data displayed:

A. 2
B. 3
C. 1
D. 4

Solutions: