Finance - Collections - Quiz, Flashcards & Trivia

1. Reschedule/Termination cases should be forwarded to SBU head for further action.

True

False

2. In case of cheque bouncing, we should insist on a DD.

True

False

3. Which banks have the CMS facility for Mexus?

A. ICICI & HDFC

B. HDFC & SBI

C. SBI & ICICI

D. None of the above

4. Reenal/Hinal should be contacted for clarifications regarding AR,Invoices etc.

True

False

5. What is a payment schedule?

A. Information about the installments

B. Information about dates & amount to be collected

C. Information about the no. of installments to be collected

D. All the above

6. How many types of invoices are generated and what are those?

A. 2- Sales & Services

B. 2-Hardware & Software

C. 2-Content & Software

D. None of the above

7. What is it that will help finance to generate invoices?

A. TCC(Training Completion Certificate)

B. ICC(Implementation Completion Certificate)

C. Printing paper

D. None of the above

8. What is CMS?

A. Content Management System

B. Cash Management Services

C. Crew Management System

D. None of the above

9. Why is CMS used?

A. Helps clear the cheque on the same day

B. Bank sends collection MIS to the company

C. Both of the above

D. None of the above

10. What should be the aim w.r.t. to overall dues?

A. Bring it below 120 days

B. Bring it below 365 days

C. Bring it below 90 days

D. None of the above

11. What is AR?

Amount Received

Annual Rate

Account Receivable

None of the above

12. When is invoice generated?

A. After request sent by AIG

B. After TCC is received by Finance Dept.

C. After ICC is received by Finance Dept.

D. When the agreement is signed

13. In case invoice is not received, payment can still be collected.

True

False

14. How many sets of agreement are signed and what are those?

A. 2-Hardware & Software

B. 2-Right to use of copyright assets & Service agreement, transfer of right to use the hardware and outright purchase agreement

C. 2-Right to use of copyright assets agreement, transfer of right to use the hardware purchase agreement

D. None of the above

15. What is ageing w.r.t. to AR?

A. Days since Invoice submitted

B. Days since agreement

C. Days since TCC submitted

D. None of the above

16. What is the time-line for submission of TCC to finance?

A. Daily

B. Weekly

C. Monthly

D. Never

Finance - Collections

1. Reschedule/Termination cases should be forwarded to SBU head for further action.

2.

What first name or nickname would you like us to use?

2. In case of cheque bouncing, we should insist on a DD.

3. Which banks have the CMS facility for Mexus?

4. Reenal/Hinal should be contacted for clarifications regarding AR,Invoices etc.

5. What is a payment schedule?

6. How many types of invoices are generated and what are those?

7. What is it that will help finance to generate invoices?

8. What is CMS?

9. Why is CMS used?

10. What should be the aim w.r.t. to overall dues?

11. What is AR?

12. When is invoice generated?

13. In case invoice is not received, payment can still be collected.

14. How many sets of agreement are signed and what are those?

15. What is ageing w.r.t. to AR?

16. What is the time-line for submission of TCC to finance?