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what is the correct answer for question $19$ to $25?$ Question $19$

A standing order to purchase specified products at a designated price, from a particular

supplier for a set period of time, is called a

A$.$ service level agreement $($SLA$).$

B$.$ purchase order.

C$.$ customer purchase order.

D$.$ blanket purchase order.

E$.$ None of the above.

Question $20$

Which of the following typically comes last in the order to cash process?

A$.$ Check inventory levels

B$.$ Record data from a customer order

C$.$ Record an approved sales order

D$.$ Check customer credit

E$.$ Record receipt of goods Question $21$

A vendor is using advanced shipping notices $($ASNs$)$ to notify customers. The customers are

likely using which of the following approaches to liability recognition?

A$.$ Two$-$way matching

B$.$ Three$-$way matching

C$.$ Specific authorization

D$.$ Voucher system

E$.$ Advance shipping notice use is compatible with all of the above.

Question $22$

Which of the following provides a means to improve the efficiency of processing customer

payments and also enhances control over the receipt of payments?

A$.$ CRM $($Customer Relationship Management$)$

B$.$ Lockboxes

C$.$ EDI

D$.$ Specific Invoicing

E$.$ None of the above Question $23$

The general ledger is updated

A$.$ during the record shipment information process

B$.$ during the record sales quote information process

C$.$ during the record sales order information process

D$.$ during the record billing information process

E$.$ None of the above

Question $24$

Which of the following is a benefit for a company that uses a $2-$way match to record a liability

related to a purchase of goods?

A$.$ There is no need to review the vendor's invoice, as the liability has already been recorded

B$.$ It does not require a company to obtain evidence of an open purchase order

C$.$ It reduces the time lag between the receipt of goods and recording the financial measurement of

the liability

D$.$ Both A and $C$ are benefits of using a $2-$way match

E$.$ All of the above are benefits of using a $2-$way match Question $25$

What is the preferred method of preventing the unauthorized shipment of goods?

A$.$ Require that a valid, open sales order exists before the goods are billed$/$invoiced$.$

B$.$ Require that a valid, open customer order exists before the goods are shipped.

C$.$ Require that a valid, open purchase order exists before the goods are shipped.

D$.$ Require that a valid, open sales order exists before the goods are shipped.

E$.$ None of the above.

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