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OMS Benchmark 1

On a statement, line item is just another term for transaction.
True
False
If a line item's total is a negative number, the line item can be referred to as a:
Credit
Debit
A receipt and a chit are synonymous.
True
False
Every line item should also have an associated chit.
True
False
The balance forward is the value of the member's balance COMING INTO the month.
True
False
The statement total is the value of the member's balance AT THE END of the month.
True
False
The statement total and the balance due don't refer to the same thing.
True
False
The balance due should always equal the sum of which of the following (select all that apply):
Balance forward
Current aging
30 day aging
60 day aging
60 day aging
90 day aging
120+ day aging
Member's can have up to 2 separate minimum periods.
True
False
A minimum period can be monthly or annually, but not quarterly.
True
False
The balance forward should always be equal to the previous month's balance due.
True
False
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