Invoice Payments: Test Pool (ML-Generated)

  1. What happens when a payment is fully applied to an outstanding document? (Select all correct responses.)
    • The application records are released.
    • The statuses of the payment and the paid document are changed to Closed.
    • The payment status is changed to Open.
    • The balances of the paid document and the payment are increased.
    • The payment is canceled, and the outstanding document remains open.
  2. What settings does the system automatically fill in when you select a customer on the Payments and Applications form? (Select all correct responses.)
    • The current business date as the date of application and the corresponding post period
    • The settings of the customer record that are needed for processing the payment
    • The customer's billing address and contact information
    • The payment amount and currency
    • The customer's credit card information for payment processing
  3. What does the system do once the full payment amount is applied to documents? (Select all correct responses.)
    • Closes the payment
    • Decreases the balances of the invoice and the payment by the application amount
    • Generates a report summarizing the payment details
    • Automatically applies any remaining balance to future invoices
  4. What will happen to the customer's balance at the end of a financial period if all the documents have been paid within that period?
    • The balance will be 0.
    • The balance will be a negative amount.
    • The balance will remain the same as it was before.
    • The balance will increase in comparison with the balance at the start of the financial period.