13. Checking of credit limit must be done by

a. Sales personnel, since he/she receives the order from the customer, she must be efficient by checking the customers credit limit too

b. An automated system, hence, all companies, big or small, must avail of automated systems in checking credit limit

c. By personnel from the credit check function, separately from the Receive Sales Function

d. The Sales manager, because approval matrix must always include managerial positions

14. Which of the following documents travel with the goods and ultimately lands on the hands of the buying customer?

a. Shipping Log

b. Shipping Notice

c. Bill of Lading

d. Packing Slip

15. This document establishes legal ownership and responsibility for assets in transit

a. Shipping Log

b. Shipping Notice

c. Bill of Lading

d. Packing Slip

16. Ideally, back-ordered items are shipped, before new sales are processed. Why?

a. Because back ordered items are already billed to customers, hence, must be prioritized

b. Because Revenue Cycle must impose a Last-In First-Out policy

c. Because inventory must be filled first before confirming orders

d. Because back ordered items are considered sales returns and must be processed first for refund before proceeding to new sale transaction