In SAP Sales and Distribution, the Payer is the business partner responsible for settling the financial liabilities of a transaction. The system determines specific financial and billing-related data from the Payer's master record. The Payment terms, which dictate the conditions for payment (e.g., due dates, discounts), are a core financial attribute maintained in the Payer's master data. Similarly, the schedule for creating Invoicing lists (a consolidation of multiple billing documents into one) is also defined in the Payer's master record to streamline the payment process for that specific partner.

C. Billing plan: This is typically determined by the item category in the sales document and is related to the specific sales agreement for a product or service, not the Payer's master data.

D. Billing address: This address is taken from the master record of the Bill-to Party, which is the partner function designated to receive the physical or electronic invoice.

1. SAP S/4HANA Sales 2023 (TS462) Certification Material: Unit: Master Data in Sales and Distribution. The courseware explicitly states that the Payer partner function determines data such as payment terms and invoicing list schedules for the sales document.

2. SAP Help Portal for SAP S/4HANA: Document: Partner Determination in Sales and Distribution. This documentation details how data is copied into sales documents from the master records of different partner functions. It confirms that payment-related data originates from the Payer. (Path: Sales and Distribution (SD) -> Basic Functions and Master Data in SD Processing -> Master Data in Sales and Distribution -> Business Partners -> Partner Functions).

3. SAP Help Portal for SAP S/4HANA: Document: Invoicing List. The documentation specifies that the factory calendar for the invoicing list dates is maintained in the customer master record of the payer. (Path: Sales and Distribution (SD) -> Billing -> Invoicing List).