Oracle Exam 1Z0-1059-22 Topic 3 Question 10 Discussion

Actual exam question for Oracle's 1Z0-1059-22 exam

Question #: 10
Topic #: 3

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

AYou 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.

BYou value the accrual at estimated consideration and it is a monetary debt.

CYou book the invoiced amount to the P&L when you meet the regulatory definition by Industry.

DYou calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.

ELiability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.

Show Suggested Answer

Suggested Answer: A

by Felix at Oct 17, 2022, 05:08 PM

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