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Free Accredited Payables Specialist (APS) Certification Exam Practice Questions

Question # 1

Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III. States.

Options:

A.  

II and III only

B.  

III only

C.  

I and III only

D.  

I, II, and III

Discussion 0
Question # 2

Which of the following describes the possible consequences for anyone engaging in misconduct relating to the Sarbanes-Oxley Act?

Options:

A.  

Corporate dissolution

B.  

Criminal penalties

C.  

Industry blacklisting

D.  

Community service

Discussion 0
Question # 3

Evaluated Receipt Settlement (ERS) requires which of the following?

Options:

A.  

Receipt and Invoice

B.  

PO and Receipt

C.  

PO and Invoice

D.  

PO, Receipt, and Invoice

Discussion 0
Question # 4

Filing for a VAT refund is difficult because: I. Invoices must include the name and address of the company filing for the refund; II. Only authorized agents may apply for the refunds; III. An original invoice must be submitted.

Options:

A.  

II only

B.  

I only

C.  

I and III only

D.  

II and III only

Discussion 0
Question # 5

The acronym GAAP stands for which of the following?

Options:

A.  

Government Accounting Acceptance Principles

B.  

Government Accounting Actuarial Program

C.  

General Accounting Administration Program

D.  

Generally Accepted Accounting Principles

Discussion 0
Question # 6

When dealing with a rush payment, which of the following are acceptable practices? I. Allow the payment to be picked up by the vendor; II. Insist on making the payment electronically; III. Mail the payment.

Options:

A.  

II and III only

B.  

I, II, and III

C.  

I and II only

D.  

I and III only

Discussion 0
Question # 7

Which of the following is necessary to prepare a 1099?

Options:

A.  

A PTIN for all reportable vendors

B.  

A W-4 for all reportable vendors

C.  

A TIN for all reportable vendors

D.  

A W-2 for all reportable vendors

Discussion 0
Question # 8

Key elements essential for an effective vendor fraud prevention program include each of the following practices, EXCEPT:

Options:

A.  

Confirmation of a physical address

B.  

Verifying that vendors are bonded

C.  

Checking government sanction lists

D.  

Requiring a W-9

Discussion 0
Question # 9

What is the current thinking regarding automation of T&E expense handling, reporting, and reimbursement?

Options:

A.  

While automation can be helpful, T&E processing still requires a lot of manual work

B.  

It opens too many loopholes for unauthorized expenses to sneak through

C.  

T&E automation solutions are still too new to evaluate accurately

D.  

It reduces processing costs, thereby increasing efficiency in handling T&E data

Discussion 0
Question # 10

Each of the following is a goal of a vendor management program, EXCEPT:

Options:

A.  

Reducing duplicate payments

B.  

Streamlining sales and use tax process

C.  

Collecting spend information for procurement

D.  

Compliance with laws and regulations

Discussion 0

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Exams4sure Dumps

Exam style questions across every APS domain

Last Update 3 days ago
Total Questions : 100

Start with our free APS practice questions, carefully crafted to mirror the domains, phrasing, and difficulty of the real Accounts Payable Certification exam. Each APS exam question comes with a detailed rationale that explains not just which answer is correct but why the others fall short. That's how concepts stick. Use the free set to benchmark yourself: identify your IOFM weak domains, see where you're losing marks, and build a focused study plan in minutes.

Free Exams Sample Questions