Exam 11: The Billingaccounts Receivablecash Receipts Barcrprocess

The goal for treasurers,who are responsible for managing an organization's cash resources,is to make funds available so that they can be used to acquire revenue-generating assets,be invested to earn interest,or be used to reduce debt,thus saving interest charges.

In a pre-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.

The ______________________________ data is a repository of all unpaid invoices issued by an organization and awaiting final disposition.

The B/AR/CR process comprises three different but related processes-namely,billing,accounts receivable,and cash receipts.Which of the following would not be an operations process goal for these three processes?

Which control is most effective in contributing to the goal of ensure input accuracy in the billing function?

The B/AR/CR system supports the repetitive work routines of the credit department,the cashier,and the accounts receivable department.

The credit department uses accounts receivable master data to complete several of their activities.

The ______________________________ type of accounts receivable systems is appropriate in situations where invoices are prepared and sent for each sale (i.e. ,each shipment),and the customer typically makes payments for specific invoices when those invoices are due.

Organizations should monitor ______________________________ to ensure that cash is received in a timely manner.

Often times a stub is attached to the customer statement.This stub is also known as a(n)______________________________ document.

According to the concept of segregation of duties,which of the following managers should report to the controller rather than to the treasurer?

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.

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

Electronic bill presentment and payment (EBPP)systems are B2B systems that use a Web site to post customers' bills and to receive their electronic payments.

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

An invoice record usually contains all of the following elements except:

Which of the following statements regarding Check 21 is false?

Which of the following control plans is most likely to appear in the input validity and input accuracy columns,but not in the input completeness column of a control matrix for the billing process?

TB Figure 11.11 is a systems flowchart for the billing process with letters indicating omitted descriptions.Fill in the omitted descriptions in the flowchart by matching the numbers from the list below with the letters on the flowchart.

The control plan ______________________________ ensures that invoices,accounts receivable,and revenue reflect prices,terms,freight,and discounts authorized by management.