Question 1

The two types of accounts receivable systems discussed in the text are the balance-forward and ____________________ systems.

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The answer of The two types of accounts receivable systems...

Question 2

In a(n) ____________________ billing system, invoices are prepared after the goods have been shipped and the sales order notification has been matched to the shipping's billing notification.

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The answer of In a(n) ____________________ billing system, invoices are...

Question 3

When customers pay with a _____________ card, float is eliminated.

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The answer of When customers pay with a _____________ card,...

Question 4

The acronym EFT stands for ________________________________________.

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The answer of The acronym EFT stands for ________________________________________....

Question 5

In a(n) ____________________ accounts receivable system, the customer statement displays invoices (new or settled in the current period), along with payment details.

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Question 6

Often times a stub is attached to the customer statement.This stub is also known as a ____________________ document.

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Question 7

Rejected sales requests are later processed through a separate ______________________________.

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The answer of Rejected sales requests are later processed through...

Question 8

A(n) _____________________________________ is an information systems extension that allows a customer to complete an inquiry or perform a task within an organization's business process without the aid of the organization's employees.

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Question 9

The ________________________________ is one of the earliest and most prominent methods for EFT in which the collector's bank account is credited and the payer's bank account is debited for the amount of a payment.

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Question 10

_____________________________________ allows banks to exchange check images electronically.

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Question 11

The __________________________________________________ is created as sales returns, bad debt write-offs, estimated doubtful accounts, or similar adjustments are processed.

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Question 12

The ____________________ event data contains invoice records.

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The answer of The ____________________ event data contains invoice records....

Question 13

The acronym ACH stands for ___________________________________.

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The answer of The acronym ACH stands for ___________________________________....

Question 14

The ________________________________________ store contains the details of each payment as reflected on the RA accompanying a payment

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The answer of The ________________________________________ store contains the details of...

Question 15

In a(n) ____________________ billing system, invoices are prepared upon acceptance of the customer order.

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Question 16

In a(n) ____________________ accounts receivable system, accounts receivable records consist of a customer's balance, categorized as current and past due, and current account activity, including such items as current charges, finance charges for past-due balances, and payments.

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The answer of In a(n) ____________________ accounts receivable system, accounts...

Question 17

A(n) _________________________ is a method of payment whereby a third party, for a fee, removes from the collector the risk of non-collection of the account receivable.

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Question 18

____________________ is a fraud resulting from the improper segregation of duties between the functions of handling cash and recording cash receipt events.

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Question 19

The ___________________________________ process supports the repetitive work routines of the credit department, the cashier, and the accounts receivable department.

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Question 20

A(n) _________________________ is a form of payment authorizing the collector to transfer funds electronically from the payer's bank account to the collector's bank account.

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The answer of A(n) _________________________ is a form of payment...

Quiz 11: The Billingaccounts Receivable Cash Receipts Barcr Process