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Questions and Answers
What is the status of an invoice when it has been finalized but not yet paid by the customer?
What is the status of an invoice when it has been finalized but not yet paid by the customer?
- Open (correct)
- Draft
- Voided
- Paid
When can an invoice be voided?
When can an invoice be voided?
- When it is in the 'Uncollectible' status
- When it is in the 'Paid' status
- When it is in the 'Open' status (correct)
- When it is in the 'Draft' status
What is the purpose of updating an invoice status to 'Uncollectible'?
What is the purpose of updating an invoice status to 'Uncollectible'?
- To delete the invoice from the system
- To track the amount owed for reporting purposes as part of bad debt accounting process (correct)
- To indicate that the invoice has been paid in full
- To indicate that the invoice has been voided
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