IOFM APS Value Pack (Frequently Bought Together)

No mistakes

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IOFM APS Exam Syllabus Topics:

IOFM Accredited Payables Specialist (APS) Certification Sample Questions:

1. To establish a successful shared services center, each of the following is required EXCEPT:

A) A greenfield site
B) A change in mindset
C) A customer service orientation
D) Performance metrics

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

A) Remittance advice
B) Receiving documents
C) Bank draft
D) P-card statement

3. What does the acronym "FIFO" mean?

A) Final Invoice For Offset
B) Fraud In Financial Operations
C) First In, First Out
D) Fifty Invested, Five Optioned

4. For a VAT invoice that contains what you believe to be a billing error, what is the only recommended solution?

A) Do not pay the invoice and report the transaction to the VAT administration
B) Do not pay the invoice and return it to the vendor for correction
C) Short pay or overpay as necessary and include an explanation of why you did so
D) Pay the incorrect amount and then send a formal written request for an adjustment

5. Which of the following IRS documents addresses travel & entertainment (T&E) expenses?

A) Publication 463
B) Form 1046
C) Advisory 972
D) Notice 1009

Solutions: