Exam 11: The Billingaccounts Receivablecash Receipts Barcr Process

In an open-item accounts receivable system, customer statements display invoices (new or settled in the current period), along with payment details.

The accounts receivable system in which all the accounts receivable master data contains individual open invoices, against which payments and other adjustments are applied:

The ______________________________ data store contains the details of each payment as reflected on the remittance advice (RA) accompanying a payment.

An overall management objective is to:

The acronym ACH stands for ______________________________.

The accounts receivable system typically used by utilities is the:

Quantities of items shipped to a customer would typically be found in the relational table for:

Which control plan for the cash receipts function has as its primary control goal to ensure security of resources?

There are two types of electronic bill presentment and payment (EBPP) systems the ______________________________ method and the consolidation/aggregation method.

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

The principal master data that you would expect to see in a B/AR/CR process is the:

The acronym EFT stands for ______________________________.

The technology that allows information on documents to be converted into machine-readable data through a scanner is called a(n):

The acronym EFT stands for electronic funds transfer.

Which of the following normally would trigger the B/AR/CR process to record a customer payment?

A lockbox is a postal address maintained by a third party-typically a bank-which is used solely for the purpose of collecting checks.

In the billing process, the control plan of review shipped not billed sales orders (tickler file) helps to ensure:

The B/AR/CR process completes the order to cash process by accomplishing the activities of: ______________________________, managing customer accounts, and securing payment for goods or services rendered.

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.

The sales event data store contains invoice records.