What must be maintained for exceptions and specific billing requirements?

The correct choice for maintaining exceptions and specific billing requirements is the billing date determination profile. This profile is essential in the SAP Sales and Distribution (SD) module as it specifies the rules and procedures to determine the appropriate billing date for various transaction types.

Billing date determination profiles allow businesses to accommodate unique customer agreements, specific billing cycles, and adjust for conditions that may affect when bills are generated. This is particularly important in industries where billing cycles can vary greatly based on service agreements or customer preferences, making it necessary to establish a flexible and tailored approach to billing date determination.

In contrast, other options mentioned serve different purposes. The billing due list variant is utilized to view and manage due invoices more easily but does not handle the specifics of billing exceptions. Factory calendar adjustments relate to production scheduling and do not pertain directly to billing processes. Customer master records contain important information about customer accounts but do not specifically address how to handle exceptions in billing requirements or billing date determinations.

Thus, the billing date determination profile is crucial for ensuring compliance with all necessary billing exceptions and requirements.