Pre-assessment Test – Billing And Accounts Receivable
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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.
- 1.What is Aged A/R Report?
- 2.The information in Billing Master File defaults from ___________________.
- 3.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.
Header Information
- B.
Contract Information
- C.
Budget Information
- 4.______________ is initialized if you are required to attach a Certificate of Performance for Labor to your government billings.
- 5.
- A.
Prior Year's Billable Data
- B.
Current Year's Billable Data
- C.
Billng Master File
- 6._____________________ is used to review billing amounts and to identify unbilled costs.
- 7.Where does the address that prints on bills defaults from?
- A.
GL Control File
- B.
Contract Control File
- C.
AR Control File
- 8.Check which applies if you do not wish the provisional billing rate percentage to appear on the billings for the contract/task.
- A.
Suppress none
- B.
Suppress provisional billing rates
- C.
Suppress all
- 9.
- A.
Labor Detail by Category
- B.
T&M Supporting Schedule
- C.
Certificate of Performance - Labor
- 10.True or False. Billings can be computed as frequently as required.
- A.
True
- B.
False
- 11._______________ is used to generate a list, in receipt number order, of all receipts not posted to the GL.
- 12.
- A.
T&M Billing Rates File
- B.
Labor Category File
- C.
Contract Workforce File
- 13.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.
True
- B.
False
- 14.__________ 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.
- 15.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.
Normal Method
- B.
Based on Billings
- C.
Based on GL
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