Question 1

What is an invoice?

Accepted Answer

It is a time-stamped commercial document that itemizes and records a transaction between a buyer and a seller.

Answer

It refers to all the steps companies must take from the moment they receive an order until the items land in customers' hands

Answer

It is a document that is issued by the shipping line which confirms that the equipment and the space on the vessel are available.

Question 2

Name three basic components of an invoice

Accepted Answer

Timing and Printing, Invoice Date, Proforma

Answer

Credit, Invoice Date, Proforma

Answer

Debit, Timing and Printing, Invoice Date

Question 3

It is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods. It corresponds to

Accepted Answer

Pro Forma Invoice

Answer

Procurement

Answer

Journal Entry

Question 4

It is a form of electronic billing that generates, stores, and monitors transaction-related documents between parties and ensures the terms of their agreements are fulfilled. It corresponds to

Accepted Answer

Electronic invoicing

Answer

Procurement

Answer

Pro Forma Invoice

Question 5

Name one advantage of E-Invoicing

Accepted Answer

Ease of searching and sorting for specific names, terms, or dates

Answer

To bill customers for goods or services

Answer

The process of receiving the order from the customer, fulfilling that order by providing the goods/services required and receiving payments from the customers for the goods/services provided.

Question 6

Mail, Email and Invoicing software are ways to Send an Invoice

Accepted Answer

Answer

<P>False</P>

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