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Revenue Cycle I-A: Business Partner Master File Policy Quiz

10 Questions

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Revenue Cycle I-A: Business Partner Master File Policy Quiz

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Questions and Answers

What information must be contained in the Business Partner Master File?

Date of birth of the Business Partner

Number of children the Business Partner has

Email address of the Business Partner

Location of the Business Partner (correct)

Who is responsible for maintaining the Business Partner Master File?

Sales Department

Human Resources Department

IT Department

Finance Department (correct)

What transactions is the Business Partner Master File Administrator not allowed to process?

Generating financial reports

Preparing sales forecasts

Processing payments (correct)

Updating inventory records

Under what circumstances may a business partner's account be blacklisted?

Default in payment of accounts Signup and view all the answers

Why is access to the Business Partner Master File controlled?

To maintain the security and integrity of data Signup and view all the answers

What is the purpose of maintaining a Business Partner Library?

To standardize the code assigned to business partners of METS En Co. Signup and view all the answers

What type of documents must support new business partner additions in the Business Partner Master File?

Approved Customer Information Sheet Signup and view all the answers

How should a business partner code be formed according to the policy?

Including the first three characters of the vendor's name and a serial number padded with zeros Signup and view all the answers

What information should be added to the Business Partner Master File as per the policy statement?

Only information from an approved list of documents Signup and view all the answers

Why is it essential to maintain correct information in the Business Partner Master File?

To avoid errors in critical processes like setting up customer accounts Signup and view all the answers