Accounts Receivables Quiz

1. What is the primary purpose of an SOP (Standard Operating Procedure)?

• • To set company policies

• • To standardize processes and ensure consistency

• • To manage employee behavior

• • To reduce costs

1. Why are SOPs important in financial operations?

• • They ensure financial accuracy and compliance.

• • They help employees work faster.

• • They only focus on cutting costs.

• • They reduce the need for management oversight.

1. How do SOPs help in compliance and auditing?

• • By providing a documented process that can be followed and reviewed

• • By automating workflows

• • By assigning tasks to multiple employees

• • By increasing paperwork

4. What must be done before approving a new customer?

• • Inform management of the customer

• • Verify all documents and approval criteria

• • Register the customer directly in the CRM

• • Collect payment upfront

4. What is required from the salesperson when collecting documents from a new customer?

• • Only the trade license

• • Trade license, KYC form, VAT certificate, signed contract, and owner’s ID (if applicable)

• • Just a signed contract

• • Verbal confirmation of the customer’s identity

4. What system is used for managing customer details in the onboarding process?

• • Excel sheets

• • Zoho Books and CRM

• • Google Docs

• • Manual records

4. Who is responsible for verifying the new customer’s documents?

• • Sales Team

• • Accounts Team

• • Operations Team

• • SST

4. What is the target time for approving a new customer within the SOP?

• • 24 hours

• • 48 hours

• • 72 hours

• • 5 business days

4. Which key performance indicator (KPI) measures the speed of document collection for new customers?

• • Customer Communication Efficiency

• • Document Collection Completion Rate

• • Timeliness of Customer Approval

• • CRM Update Accuracy

4. What should happen if a new customer's documents are incomplete?

• • The customer is rejected immediately.

• • The accounts team requests the missing documents from the salesperson.

• • Sales submits the documents as is.

• • The customer approval proceeds without delay.