We're so confident of our products that we provide no hassle product exchange.
IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. COSO identifies each of the following elements as necessary for an effective control environment, EXCEPT:
A) Internal controls are monitored and evaluated
B) Information is distributed in a timely way
C) Staff work in self-directed teams
D) People know their responsibilities and limits of authority
2. Which of the following best describes ERP systems?
A) They link together business functions with real-time data flow
B) They provide a sophisticated means of fraud detection
C) They are popular methods of tracking continuous improvement
D) They are payment systems designed exclusively for cryptocurrency
3. Payment of invoices when it is assumed that the goods have been received is referred to as which of the following?
A) II and III only (Negative Assurance, Assumed Receipt)
B) III only (Assumed Receipt)
C) I, II, and III (Positive Payment, Negative Assurance, Assumed Receipt)
D) I only (Positive Payment)
4. All of the following are examples of key performance indicators (KPIs) EXCEPT:
A) Invoices paid on time
B) Lost discounts
C) Positive pay
D) Cost per invoice
5. Payments to non-resident aliens for services that are performed in the U.S. must be reported on Form 1042-S if the payment amount exceeds:
A) $300
B) $0
C) $1,000
D) $600
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: B |
By Sharon
