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Exam 1z0-962 topic 1 question 59 discussion

Actual exam question from Oracle's 1z0-962
Question #: 59
Topic #: 1
[All 1z0-962 Questions]

An invoice for $100 USD has revenue deferred due to unmet payment-based contingencies and the Invoice Accounting Used for Credit Memos profile option is set to Yes. A credit memo of $50 USD has been issued against this invoice.
Explain how revenue accounting will occur.

  • A. Earned revenue will be debited for $50 USD.
  • B. Unearned revenue will be credited for $100 USD.
  • C. Earned revenue will be credited for $50 USD.
  • D. Unearned revenue will be debited for $50 USD.
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Suggested Answer: C 🗳️
by Pasha at Aug. 2, 2019, 9:18 a.m.

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Pasha
Highly Voted 5 years, 9 months ago
D https://docs.oracle.com/en/cloud/saas/financials/18b/faofc/manage-revenue-for-receivables.html#FAOFC162835 Payment-based contingencies: If revenue on this invoice was deferred due to unmet payment-based contingencies, then Receivables always debits the unearned revenue account for the full amount of the credit memo, according to the initially assigned revenue scheduling rules.
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