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Pre-assessment Test – Billing And Accounts Receivable

15 Questions  I  By Manelleangeles
Pre-Assessment Test – Billing and Accounts Receivable
This pre-test will gauge your basic understanding on Billing and AR module based on the webinars and recordings you listened during the first week of onboarding.   The instructor will use this tool to determine which area or topic within the module will spend more time for the 1:1 training.

Note:  This is scored exam.   You can no longer go back, if you skip a question, it's already considered wrong.

  
Changes are done, please start the quiz.


Question Excerpt

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1.  _____________________ is used to review billing amounts and to identify unbilled costs.
2.  This details the timesheet dates, hours, billed amounts, billing rate and labor category of each employee who has charged to a specific contract within a range of timesheet dates. This is also use as supporting document for T&M billing.
A.
B.
C.
3.  What is Aged A/R Report?
4.  All prior year billing amounts for T&M contracts, including billings in the current year, should be entered in Current Year's Billable Data file.  True or False 
A.
B.
5.  Where does the address that prints on bills defaults from?
A.
B.
C.
6.  This File is use to enter billing rates and ceilings for each labor category on T&M contracts  and to enter labor hour budgets by category for all types of contract.
A.
B.
C.
7.  _______________ is used to generate a list, in receipt number order, of all receipts not posted to the GL.
8.  ______________ is initialized if you are required to attach a Certificate of Performance for Labor to your government billings.
9.  Check which applies if you do not wish the provisional billing rate percentage to appear on the billings for the contract/task.
A.
B.
C.
10.  __________ are entered for billed receivables such as the suffix 11 account. Once entered, this are kept in an edit file until posted to GL and are used to update the A/R files via the Cash Receipts Journal.
11.  This is used to initialize some or all of the year-to-date current year’s billing amounts for CPFF and Fixed Price Contract.
A.
B.
C.
12.  Select which applies - this Revenue Basis option in Contract Master File, billings must be computed and posted to GL before you compute the revenue.
A.
B.
C.
13.  True or False. Billings can be computed as frequently as required.
A.
B.
14.  This is a three-line billing description that will print at the top of the bill. This description includes prime and other contract number, billing address and contract/task name.
A.
B.
C.
15.  The information in Billing Master File defaults from ___________________. 
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