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| By Catherine Halcomb
Catherine Halcomb
Community Contributor
Quizzes Created: 1443 | Total Attempts: 6,714,231
| Attempts: 61 | Questions: 10
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1. If you deselect a time or disbursement entry it…

Explanation

When you deselect a time or disbursement entry, it goes back to WIP. This means that the entry is no longer considered as completed or finalized. Instead, it is returned to the Work in Progress (WIP) status, indicating that it is still in progress and can be further edited or modified. This allows for flexibility and the ability to make changes to the entry before finalizing it.

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About This Quiz
Tr - Fa8 - Billing - Quiz

This quiz, titled 'TR - FA8 - Billing', assesses knowledge on billing procedures within a finance system, including prebill requirements, bill posting, and mass edits. It's designed for learners to understand and manage billing activities effectively, focusing on practical applications in a corporate setting.

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2. The system requires you to print prebills and bills.

Explanation

The statement suggests that the system requires printing both prebills and bills. However, the correct answer is false, indicating that the system does not require printing prebills and bills.

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3. Bills can be posted via the Posting Manager.

Explanation

The statement "Bills can be posted via the Posting Manager" is incorrect. The correct answer is False. This means that bills cannot be posted using the Posting Manager.

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4. Prior to performing a mass edit to time details you must first select or __________ the details to be edited.

Explanation

Before performing a mass edit to time details, you must first select or "tag" the details to be edited. This means that you need to identify or label the specific time details that you want to edit before making any changes. By tagging the details, you can ensure that only the selected items will be affected by the mass edit, allowing for more efficient and accurate editing.

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5. Once you change a bill amount it cannot be undone.

Explanation

This statement is incorrect. It is possible to change a bill amount after it has been initially set. This can be done through various means such as requesting a refund, negotiating with the bill issuer, or disputing the charges. Therefore, the correct answer is False.

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6. The Billing   _______________________ is the home base for all billing activities.

Explanation

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7. Which view would be the best one to use to decrease the total for all copy charges?

Explanation

The Disbursement Summary view would be the best one to use to decrease the total for all copy charges. This view provides a summarized overview of all disbursements, including copy charges. By analyzing the Disbursement Summary, one can identify areas where copy charges are high and take necessary actions to reduce them, such as negotiating lower rates with copy vendors or implementing cost-saving measures.

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8. Which matters would be included on the same consolidated bill? Matter                    Bill Group              Bill Client               Consolidate Flag 1                              MAIN                      10000                    YES 2                              2                            10000                    YES 3                              MAIN                      10000                    YES 4                              MAIN                      10000                    NO 5                              MAIN                      20000                    YES 6                              2                            10000                     NO

Explanation

The matters that would be included on the same consolidated bill are 1 and 3. This is indicated by the "Consolidate Flag" column, where the value is "YES" for both matters 1 and 3.

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9. The Trust           __________                feature is used to apply payments to bills from trust during billing.

Explanation

The Trust Reserves feature is used to apply payments to bills from trust during billing. This means that when a client has funds in a trust account, those funds can be used to pay for any outstanding bills. The Reserves feature allows for the automatic allocation of trust funds to cover the expenses, ensuring that the client's trust account is properly utilized and that bills are paid in a timely manner.

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10. Match the name of the bill with the description of the bill.
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  • Jun 19, 2024
    Quiz Edited by
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  • Jul 06, 2012
    Quiz Created by
    Catherine Halcomb
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If you deselect a time or disbursement entry it…
The system requires you to print prebills and bills.
Bills can be posted via the Posting Manager.
Prior to performing a mass edit to time details you must first select...
Once you change a bill amount it cannot be undone.
The Billing   _______________________ is the home base for all...
Which view would be the best one to use to decrease the total for all...
Which matters would be included on the same consolidated bill?...
The Trust          ...
Match the name of the bill with the description of the bill.
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