Page 52 - Unanet GovCon Using Billing Revenue - Participant Guide ebook

Check Your Understanding

1. What are the Project Types in Unanet?
a) Time and Materials (T&M)/Cost Plus (CP)/Fixed Price (FP)
b) Direct and Indirect
c) Billable and Non-billable

2. In Unanet, what is defined as Unbilled Billings?
a) Amounts on a non-complete invoice
b) Billable amounts posted in Billing & Revenue Post, but are not on an
invoice
c) Amounts that are on a completed invoice

3. In Unanet, what is defined as Draft Billings?
a) Amounts on a non-complete invoice
b) Billable amounts posted in Billing & Revenue Post, but are not on an
invoice
c) Amounts that are on a completed invoice

4. In Unanet, what is defined as Billed Billings?
a) Amounts on a non-complete invoice
b) Billable amounts posted in Billing & Revenue Post, but are not on an
invoice
c) Amounts that are on a completed invoice

5. In Unanet, what is defined as Deferred Revenue?
a) Additional Items or Write-offs included on draft invoices
b) Unearned, but billable amounts
c) Amount of Revenue posted via the Billing & Revenue Post and Invoice
Completion processes

6. In Unanet, what is defined as Draft Revenue?
a) Fixed Price items with a Revenue Recognition Method of “When Billed”
or any Additional Items or Write-offs included on draft invoices
b) Unearned, but billable amounts
c) Amounts on a non-complete invoice

7. In Unanet, what is defined as Recognized Revenue?
a) Additional Items or Write-offs included on draft invoices
b) Unearned, but billable amounts
c) Amount of Revenue posted via the Billing & Revenue Post and/or
Invoice Completion processes

LESSON 4 REVENUE RECOGNITION
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