AP Bills: Test Pool (ML-Generated)

  1. When do you create an AP bill?
    • When you have received an invoice from a vendor
    • When you have received a payment from a customer
    • When you need to adjust the inventory levels
    • When you want to track expenses for tax purposes
  2. What does the system automatically assign to an AP bill when it is first saved?
    • A unique identifier
    • The due date
    • A vendor reference number
    • Credit terms
  3. Suppose that the Raise an Error on Duplicate Vendor Reference Number check box is cleared on the Accounts Payable Preferences form. What action will the system take on the Bills and Adjustments form if a user tries to enter a vendor reference number that has already been entered in the system?
    • Allows the user to enter the duplicate vendor reference number
    • Displays an error message
    • Automatically generates a new vendor reference number
    • Prompts the user to confirm if they want to overwrite the existing vendor reference number
  4. What does the On Hold status mean for an AP bill?
    • The bill is being edited and cannot be released.
    • The bill is pending approval.
    • The bill has been rejected by the responsible person.
    • The bill is ready and can be released or scheduled.
  5. Which status indicates that an AP bill is ready and can be released?
    • Balanced
    • On Hold
    • Open
    • Scheduled
  6. Suppose that the Hold Documents on Entry check box is cleared on the Accounts Payable Preferences form. What is the default status of a newly entered AP bill?
    • Balanced
    • On Hold
    • Pending Approval
    • Open
  7. What is the status of an AP bill after it has been released?
    • Open
    • Pending
    • Canceled
    • Paid
  8. Which accounts are usually involved when the system generates the GL batch for an AP bill? (Select all correct responses.)
    • The liability account specified in the AP Account box for the vendor on the Vendors form
    • The expense account specified for each bill line in the Account column
    • The revenue account specified in the AP Account box for the vendor on the Vendors form
    • The asset account specified for each bill line in the Account column
    • The equity account specified in the AP Account box for the vendor on the Vendors form
  9. On which forms can you review a vendor's balance after an AP bill has been released? (Select all correct responses.)
    • AP Balance by Vendor
    • Vendor Details
    • Vendor History
    • Bills and Adjustments