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Quiz

Module 5

Catherine Tumanguil 10 questions

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Questions in this quiz (10)

  1. 11) Which activity is part of the sales order entry process?

    1. Aa) Setting customer credit limits
    2. Bb) Preparing a bill of lading
    3. Cc) Checking customer credit
    4. Dd) Approving sales returns
  2. 22) Which document often accompanies merchandise shipped to a customer?

    1. Aa) Picking ticket
    2. Bb) Packing slip
    3. Cc) Credit memo or note
    4. Dd) Sales order
  3. 33) Which method is most likely used when a company offers customers discounts for prompt payment?
    1. Aa) Open-voice method
    2. Bb) Balance-forward method
    3. Cc) Accounts receivable ageing method
    4. Dd) Cycle billing method
  4. 44) Which of the following techniques is the most efficient way to process customer payments and update accounts receivable?
    1. Aa) EFT
    2. Bb) CRM
    3. Cc) FEDI
    4. Dd) ACPA
  5. 55) Which of the following revenue sub cycle activities can potentially be eliminated by technology?

    1. Aa) Sales order entry
    2. Bb) Shipping
    3. Cc) Billing
    4. Dd) Cash collection
  6. 66) Agency cost is the cost that may be incurred when
    1. Aa) An agent charges a fee for work done
    2. Bb) Managers run a business for owners
    3. Cc) A firm is formed to reduce costs
    4. Dd) All of the responses
  7. 77) Which document is used to authorise the release of merchandise from inventory control (warehouse) to shipping?
    1. Aa) Picking ticket
    2. Bb) Packing slip
    3. Cc) Shipping order
    4. Dd) Sales invoice
  8. 88) Which of the following provides a means both to improve the efficiency of processing customer payments and also to enhance control over those payments?
    1. Aa) CRM
    2. Bb) Lockboxes
    3. Cc) Ageing accounts receivable
    4. Dd) EDI
  9. 99) Who should approve credit notes?

    1. Aa) Credit manager
    2. Bb) Sales manager
    3. Cc) Billing manager
    4. Dd) Control
  10. 1010) For customer remittances, a mailroom clerk should separate cheques from remittance advices and send customer payments to which department?
    1. Aa) Billing
    2. Bb) Accounts receivable
    3. Cc) Cashier
    4. Dd) Sales

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Description
accounting Quiz on Module 5, created by Catherine Tumanguil on 02/11/2016.
Language
English
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