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Exam 1Z0-1059-20 Topic 3 Question 70 Discussion

Actual exam question for Oracle's 1Z0-1059-20 exam
Question #: 70
Topic #: 3
What are two major changes when comparing the new revenue recognition guidance under ASC 606 and IFRS
15 versus the old standard?

Suggested Answer: A,B Vote an answer

by doerganesh.oracleconsultant at Jun 08, 2026, 01:04 AM

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doerganesh.oracleconsultant
2026-06-08 01:04:27
Selected Answer: AC
A. Expected consideration value is applicable to all industries. ✅
ASC 606/IFRS 15 introduced a single revenue model across industries and requires estimation of variable consideration.
B. Pricing estimates cannot be used in the absence of pricing data. ❌
Incorrect. ASC 606 allows estimation methods (Expected Value, Adjusted Market Assessment, Residual Approach, etc.) when pricing data is not directly available.
C. Revenue and performance obligation liabilities are not dependent on billing. ✅
Correct. Revenue recognition is based on satisfying performance obligations, not on invoicing or billing events.
D. Revenue can be recognized for performance obligations only using the "Point in Time" approach. ❌
Incorrect. Revenue can be recognized over time or at a point in time.
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Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

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