Refunds can be applied against receipts, credit notes, prepayments, and unapplied cash.

Question

BlackTom AI · Accepted Answer

The statement presented is: 'Refunds can be applied against receipts, credit notes, prepayments, and unapplied cash.'

Option 1 (True): This option is consistent with common accounting and ERP practices. Refunds are typically allocated against existing customer payment sources to reduce the amount owed or to clear a balance. These sources often include actual receipts (payments already recorded), credit notes (documented credits that can offset charges), prepayments (money paid in advance that can be reduced by a refund), and any unapplied cash (payments that have not yet been linked to a specific invoice or item). Therefore, categorically acknowledging that refunds can be posted against these categories aligns with standard redemption and offset rules in many financial systems.

Option 2 (False): This option would be incorrect because it denies at least part of what is commonly permitted. In most setups, refunds are not restricted from offsetting against receipts, credit notes, prepayments, or unapplied cash; rather, these are typical and valid offsets. Saying refunds cannot be applied to any of these sources overlooks the practical mechanisms by which refunds reduce or reverse prior payments and credits, and it ignores the existence of unapplied cash that can be allocated when a refund is issued.

In summary, the reasoning supports that refunds are generally applicable against the listed categories, and the alternative that it is not allowed would contradict standard financial clearing processes.

SG30018E3 - Sage 300 2018 Accounts Receivable Module 3 Quiz

Refunds can be applied against receipts, credit notes, prepayments, and unapplied cash.

查看解析

登录即可查看完整答案

类似问题

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

A product has a selling price of $20, a contribution margin ratio of 40% and fixed cost of $120,000. To make a profit of $30,000. The number of units that must be sold is: Type the number without $ and a comma. Eg: 20000

Which of the following statement regarding cost is correct:

Under the assumptions used in cost-volume-profit analysis, as the activity increases:

The CVP and break-even analysis are supported by a range of important assumptions. Which of the following is not an assumption of the CVP:

The break-even point is that at which:

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单