-billing process - CORRECT ANSWER -sales order entry process
Before a shipping notice is prepared during the revenue cycle, shipping department personnel should
match the inventory received from the warehouse to the
-sales order
-picking tickets
-picking tickets and sales order
-sales order and bill of lading - CORRECT ANSWER -picking ticket and sales order
What is the bill of lading? - CORRECT ANSWER a legal contract that defines responsibility for goods that
are in transit
What should be included with merchandise shipment to customer?
-picking ticket
-packing slip
-sales invoice - CORRECT ANSWER -packing slip
, What is the open-invoice method? - CORRECT ANSWER tracking accounts receivable where customers
pay according to individual sales invoices
The document a customer returns with their payment and that identifies the source and the amount of
the payment is called a
What two documents usually accompany the goods shipped to a customer?
-bill of lading and invoice
-packing slip and bill of lading
-invoice and packing slip - CORRECT ANSWER -packing slip and bill of lading
A ? system prepares and mails monthly statements to customers throughout the entire month, instead
at the end of the month
-continuous
-open-invoice
-cycle billing
-balance forward - CORRECT ANSWER -cycle billing
What is the counterpart activity in the revenue cycle compared to the receiving and storage of goods in
the expenditure cycle?
-sales order entry process
-shipping function
-cash collection activity
-cash payments activity - CORRECT ANSWER -shipping function
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