Process Financial Documents MB-800 Practice Questions (Page 7)

Questions 31–35

1. 31application · medium

   A custom furniture manufacturer requires customers to pay 30% of the order value before production begins. The sales team wants to record the advance payment and later apply it to the final invoice. What should the sales team do?

   • ACreate a sales prepayment invoice for 30% of the order, then create the final invoice and apply the prepayment.
   • BCreate a sales invoice for the full amount and mark it as prepaid.
   • CPost a general journal receipt for the 30% and later apply it to the invoice.
   • DCreate a sales credit memo for 30% and apply it to the final invoice.
   Reveal Solution Discussion Select an answer first
2. 32foundation · easy

   You have released a purchase order but need to make changes to it. What should you do?

   • ADelete the purchase order and create a new one
   • BReopen the purchase order
   • CPost the purchase order first
   • DCreate a purchase credit memo
   Reveal Solution Discussion Select an answer first
4. 33application · medium

   A customer returns a defective product that was sold on a posted sales invoice. The company wants to issue a document that reduces the customer's balance and updates inventory. What should the sales administrator create?

   • AA general journal entry to reduce the customer's balance.
   • BA purchase credit memo for the returned item.
   • CA sales credit memo that references the original invoice and includes the returned item.
   • DA sales invoice with a negative line for the returned item.
   Reveal Solution Discussion Select an answer first
5. 34application · medium

   A sales manager at a distribution company wants to invoice a customer once a week for all shipments made that week. The sales orders are released and shipped daily. What is the most efficient way to achieve this?

   • AUse the Combine Shipments action on the customer's sales orders to combine the shipments into one invoice.
   • BCreate a new sales invoice for each shipment and then delete the duplicates.
   • CPost the sales orders as invoices directly without shipping.
   • DReopen each sales order and change the shipment date to the same day.
   Reveal Solution Discussion Select an answer first
6. 35expert · medium

   A company requires a 50% prepayment on all custom sales orders. A sales order is created with a prepayment percentage of 50. The customer pays the prepayment invoice, but later the order is cancelled before shipment. The sales manager needs to refund the prepayment. What should the sales manager do?

   • ADelete the prepayment invoice and the sales order.
   • BUse the Correct action on the prepayment invoice to reverse it.
   • CPost a negative sales invoice for the prepayment amount.
   • DCreate a sales credit memo for the prepayment amount and apply it to the prepayment invoice.
   Reveal Solution Discussion Select an answer first