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Accredited Payables Specialist (APS) Certification Exam Question and Answers

Accredited Payables Specialist (APS) Certification Exam

Last Update Nov 30, 2025
Total Questions : 100

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Questions 1

Which of the following accounting entries are necessary to record an expense from an incoming invoice?

Options:

A.  

A debit to the asset account and a corresponding debit to the expense account

B.  

A credit to the AP liability account and a corresponding credit to the expense account

C.  

A debit to expense and a credit to the AP liability account

D.  

A credit to expense and a debit to the AP liability account

Discussion 0
Questions 2

The Sarbanes-Oxley statute in the U.S. requires public companies to: I. Establish controls over accounts payable hiring; II. Use a recognized framework to design and test controls over financial reporting; III. Ensure that the company CFO is a CPA.

Options:

A.  

I and II only

B.  

II only

C.  

I, II, and III

D.  

I only

Discussion 0
Questions 3

What is a good strategy for dealing with the change that typically accompanies automation?

Options:

A.  

Request that you be reassigned to a role that is unaffected by automation

B.  

If you feel the change won’t be for the best, try to convince management to delay

C.  

Don’t worry about it until you must actually implement the changes

D.  

Understand and accept that it will take time to learn a new system

Discussion 0
Questions 4

Good vendor master file practices include each of the following, EXCEPT:

Options:

A.  

Having a vendor verification program

B.  

Blocking inactive vendors after a certain period

C.  

Finding and consolidating duplicate vendors

D.  

Deleting and re-entering vendors that move

Discussion 0
Questions 5

Payments by U.S. companies to U.S. unincorporated service providers must be reported to the IRS if they equal or exceed which of the following dollar amounts?

Options:

A.  

$600

B.  

$1,000

C.  

$500

D.  

$300

Discussion 0
Questions 6

Each of the following is one of the most common types of fraudulent expense reimbursement schemes, EXCEPT:

Options:

A.  

Personal expenses reported as business-related

B.  

Forged or modified travel receipts

C.  

Multiple reimbursements for the same expense

D.  

Lapping schemes for transportation cost

Discussion 0
Questions 7

Which of the following is true about a recurring wire transfer?

Options:

A.  

It is made at the same time each week

B.  

It is made to the same organization each time

C.  

It is made for the same amount each time

D.  

It must be made through CHIPS

Discussion 0
Questions 8

In the U.S., what type of information is HIPAA designed to protect?

Options:

A.  

Corporate whistleblower identities

B.  

External auditor findings

C.  

Private medical records

D.  

Electronic banking information

Discussion 0
Questions 9

IRS proposed penalties for missing or incorrect tax IDs on 1099 filings can be abated due to ‘reasonable cause,’ which can include each of the following, EXCEPT:

Options:

A.  

Proof of a successful TIN match prior to the date of assessment

B.  

Documentation showing the error rate to be less than 5% of total 1099s

C.  

The organization’s plan for improving the accuracy of future reporting

D.  

Steps the organization has taken in an attempt to obtain the correct payee information

Discussion 0
Questions 10

The general rule for determining independent contractor status looks at evidence in each of the following categories, EXCEPT:

Options:

A.  

The degree of control the employer exercises over the worker’s work results

B.  

The amount of control the employer has over the worker’s finances

C.  

The job title assigned to the worker

D.  

The type of relationship established between the parties

Discussion 0
Questions 11

Which of the following is a key reason for careful management of your vendor master file?

Options:

A.  

Control the number of vendor calls

B.  

Reduce the potential for fraud

C.  

Monitor vendor quality

D.  

Gain visibility into payment status

Discussion 0
Questions 12

Which of the following AP department procedures would reduce the number of vendor calls to the AP department?

Options:

A.  

I and II only (Provide access to a supplier portal, Assigning specific individuals to interact with specific vendors)

B.  

II and III only (Assigning specific individuals to interact with specific vendors, Including as much information as possible on the remittance advice)

C.  

I and III only (Provide access to a supplier portal, Including as much information as possible on the remittance advice)

D.  

I, II, and III (Provide access to a supplier portal, Assigning specific individuals to interact with specific vendors, Including as much information as possible on the remittance advice)

Discussion 0
Questions 13

In double-entry accounting, which of the following pairs of accounting entries are made when an invoice has been paid?

Options:

A.  

Credit cash and debit the asset account

B.  

Debit the expense and credit the AP liability account

C.  

Debit cash (asset) and credit the AP liability account

D.  

Credit cash and debit the AP liability account

Discussion 0
Questions 14

Which of the following techniques is NOT recommended to help protect confidential data?

Options:

A.  

When leaving your work area even briefly, lock your computer down

B.  

Save reports to a portable USB drive and give that to the requestor instead of emailing them

C.  

When approached at your desk, turn off your monitor and turn papers face down

D.  

Shred unneeded paper documents or put them in a secure disposal container

Discussion 0
Questions 15

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
Questions 16

Common elements required in a VAT-acceptable invoice include all of the following, EXCEPT:

Options:

A.  

The customer’s VAT identification number

B.  

The date of invoice issue

C.  

The VAT rate applied

D.  

The supplier’s banking information

Discussion 0
Questions 17

Which of the following are among the elements that the IRS considers in defining a T&E accountable plan?

Options:

A.  

I only (Expense substantiation)

B.  

I, II, and III (Expense substantiation; Business connection requirement; Return of unused cash advances on a timely basis)

C.  

II only (Business connection requirement)

D.  

I and III only (Expense substantiation; Return of unused cash advances on a timely basis)

Discussion 0
Questions 18

What is one department that can particularly benefit from specific insights provided by the vendor master file?

Options:

A.  

Manufacturing

B.  

Purchasing

C.  

Audit

D.  

Mailroom

Discussion 0
Questions 19

A three-way match is governed by the invoice, the purchase order, and which of the following?

Options:

A.  

Remittance advice

B.  

Bank draft

C.  

P-card statement

D.  

Receiving documents

Discussion 0
Questions 20

What is one concern accounts payable should have regarding international travel?

Options:

A.  

International travel vendors are known to be unscrupulous so expenses must be scrutinized

B.  

Employees must collect appropriate VAT information to allow reclaiming the tax

C.  

Significant differences in time zones can make communication with travelers difficult

D.  

Fluctuations in exchange rates must be considered to optimally schedule travel

Discussion 0
Questions 21

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
Questions 22

Which of the following are data security concerns?

Options:

A.  

I and II only (What data is being accessed; Who is accessing the data)

B.  

I and III only (What data is being accessed; For what purpose the data is being used)

C.  

II and III only (Who is accessing the data; For what purpose the data is being used)

D.  

I, II, and III (What data is being accessed; Who is accessing the data; For what purpose the data is being used)

Discussion 0
Questions 23

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
Questions 24

Which of the following is a part of a successful ERS (Evaluated Receipt Settlement) program?

Options:

A.  

Billing of miscellaneous charges separately

B.  

Receiving a complete invoice with the shipment

C.  

Exclusion of early pay discounts

D.  

Use of pro forma purchase orders

Discussion 0
Questions 25

Ways to minimize the number of rush checks that are requested include:

Options:

A.  

I only (Distribute the check run schedule with cut-off dates and times)

B.  

I and II only (Distribute the check run schedule with cut-off dates and times, Charge a rush check processing fee)

C.  

I, II, and III (Distribute the check run schedule with cut-off dates and times, Charge a rush check processing fee, Publish the names of frequent rush check requestors)

D.  

II only (Charge a rush check processing fee)

Discussion 0
Questions 26

COSO identifies each of the following elements as necessary for an effective control environment, EXCEPT:

Options:

A.  

Internal controls are monitored and evaluated

B.  

Staff work in self-directed teams

C.  

Information is distributed in a timely way

D.  

People know their responsibilities and limits of authority

Discussion 0
Questions 27

To date, the Streamlined Sales Tax Project has accomplished which of the following? I. Resolved the origin vs. destination question; II. Implemented a uniform exemption certificate; III. Created rate and boundary databases.

Options:

A.  

I only

B.  

I, II, and III

C.  

II only

D.  

II and III only

Discussion 0
Questions 28

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
Questions 29

Which of the following are reasons an employee should keep and submit T&E receipts, even if using a corporate travel card?

Options:

A.  

I, II, and III (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)

B.  

I and III only (There may be additional expenses for items paid out-of-pocket; The card information may not include the sufficient level of detail needed for approval)

C.  

I and II only (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones)

D.  

II and III only (Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)

Discussion 0
Questions 30

Which party is responsible for providing 1099 information for P-card transactions to the IRS?

Options:

A.  

Merchant

B.  

Card issuer

C.  

Card user

D.  

Accounts payable

Discussion 0