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  • Question
  • Explain What is Customer Master record?


  • Correct Answer
  • A Customer Master Record is a permanent record that contains key information about a business partner or a material This information must be entered into the system before any transactions can take place involving the business partner [customer] or a material Entering all the information about a customer or a material into the system before making transactions insures that subsequent transactions or inquiries will have consistent data and reports and analyses can be done in an orderly way Master Records can be edited or changed when necessary Changing master records is frequently called "Maintaining" in SAP 


  • Accounting and Finance problems


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    • 1. What is factoring?
    • Discuss
    • 2. What do you mean by Credit Management under AR in Professional field?
    • Discuss
    • 3. What is reconciliation?
    • Discuss
    • 4. Explain What is the difference between debenture holders and creditors?
    • Discuss
    • 5. What are the components or materials used by Accounts receivable departments?
    • Discuss
    • 6. What is the Auto Invoice? What are the setup Steps for Auto Invoice?
    • Discuss
    • 7. Who is responsible for maintaining the Accounts receivable in an organization?
    • Discuss
    • 8. Which of the following statements about market segmentation is true?

    • Options
    • A. It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
    • B. It is a process of creating an image or identity of the product in the minds of the target market.
    • C. It is a process of evaluating each segment's attractiveness and selecting one or more to enter.
    • D. It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
    • Discuss
    • 9. When an account becomes uncollectible and must be written off

    • Options
    • A. Accounts Receivable should be credited
    • B. Sales Revenue should be debited
    • C. Allowance for Doubtful Accounts should be credited
    • D. Bad Debt Expense should be credited
    • Discuss
    • 10. Which of the following is not economic investment?

    • Options
    • A. the piling up of inventories on a grocer's shelf
    • B. the purchase of a drill press by the Ajax Manufacturing Company
    • C. construction of a suburban housing project
    • D. the purchase of 100 shares of AT&T by a retired business executive
    • Discuss


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