1 Which of the following statements is false? Cash receipts events data are comp
ID: 2415677 • Letter: 1
Question
1
Which of the following statements is false?
Cash receipts events data are comprised of one or more invoice records.
None of these answers are correct
The typical B/AR/CR system assists in preparing internal and external reports.
Cash receipts can be accelerated by using some form of EFT.
The two types of adjustments that commonly result from a periodic review of the aging details of customer account balances are a recurring entry for estimated bad debts and a bad debt write-off.
2
Which of the following statements is true?
The billing system in which the invoice is prepared after goods have been shipped and the sales order notification has been matched to shipping's billing notification is called a post-billing system.
The billing system in which the invoice is prepared after goods have been shipped and the sales order notification has been matched to shipping's billing notification is called a pre-billing system.
The billing system in which the invoice is prepared after goods have been shipped and the sales order notification has been matched to shipping's billing notification is called a open-item system.
The billing system in which the invoice is prepared after goods have been shipped and the sales order notification has been matched to shipping's billing notification is called a balance-forward system.
None of these answers are correct.
3
Which of the following is not an operations process goal for the Billing/Accounts Receivable/Cash Receipts process?
Ensure security of resources
Ensure efficient employment of resources
Ensure AR master data update accuracy
None of these answers are correct
Ensure effectiveness of operations
4
Which of the following statements is false?
Pre-formatted screens in the OE/S process are a control plan that involves the detailed comparison of the individual elements appearing on two source documents.
An invoice is a business document---either paper or electronic transmission---used to notify the customer of an obligation to pay the seller for merchandise which was ordered and shipped.
Depending on how the OE/S process is designed, the sales order master data may be updated at least twice¾once when a new sales order is created and later to reflect the shipment of that order.
None of these answers are correct.
Funds on deposit and available for use are known as good funds.
5
Which of the following statement is false?
The AR master file address is a postal address, maintained by the firm's bank, which is used solely for the purpose of collecting checks.
None of these answers are correct
The customer master data is a data store that contains data identifying the particular characteristics of each customer.
EFT includes wire transfers, credit and debit card processing, as well as payments made via the ACH Network.
A tickler file is one that is reviewed on a current and regular basis for the purpose of taking action to clear the items from that file.
Explanation / Answer
1) Cash receipts events data are comprised of one or more invoice records.False
2) The billing system in which the invoice is prepared after goods have been shipped and the sales order notification has been matched to shipping's billing notification is called a post-billing system. True
3) Ensure security of resources is not a operations process goal for the Billing/Accounts Receivable/Cash Receipts process.
4) Depending on how the OE/S process is designed, the sales order master data may be updated at least twice¾once when a new sales order is created and later to reflect the shipment of that order. False master data is not updated by sales order process
5) A tickler file is one that is reviewed on a current and regular basis for the purpose of taking action to clear the items from that file. False trickler file is for future time purpose.
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