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1z0-1059-22 Questions and Answers

Question # 1

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

A.

by identifying and creating one or more performance obligations for a given accounting contract

B.

by calculating Total Transaction Price for contracts

C.

by only creating contracts that are source system specific

D.

by allowing manual allocation of Total Transaction Price across performance obligations

E.

by restricting users from excluding contract lines

F.

by grouping source document lines intro contracts for each identified customer

Question # 2

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.

Revenue can be recognized for performance obligations only using the "Point in Time" approach.

C.

Pricing estimates cannot be used In the absence of pricing data.

D.

Expected consideration value is applicable to all industries.

Question # 3

Which two settings are related to the "Invalid Line Handling" Revenue Management System Option?

A.

Void contract

B.

Preserve contract

C.

Reject line

D.

Reverse line

E.

Reject contract

Question # 4

1z0-1059-22 question answer

1z0-1059-22 question answer

What is the correct match sequence of the descriptions A, B andC against the titles?

A.

B, C, A

B.

A, C, B

C.

C, B, A

D.

C, A, B

E.

A, B, C

F.

B, A, C

Question # 5

Which isNOTa required piece of information when importing contract header Information from a source file?

A.

Date of Source Document

B.

Source Document Type code

C.

Record Type

D.

Source System

E.

Currency code of source document

F.

Source Document Unique Identifier Number 1

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