Online Access Free APS Exam Questions

When auditing expense reports, one thing to pay particular attention to is:

• A.Airfare expenses in combination with hotel costs
• B.Restaurant receipts that include client names
• C.Amounts just below the approval threshold
• D.Highly itemized receipt details

Detective controls do which of the following? I. Establish segregation of duties; II. Look for errors and irregularities; III. Determine if preventive controls are effective.

• A.I and III only
• B.I, II, and III
• C.II and III only
• D.I and II only

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

• A.I and III only (Expense substantiation; Return of unused cash advances on a timely basis)
• B.I only (Expense substantiation)
• C.I, II, and III (Expense substantiation; Business connection requirement; Return of unused cash advances on a timely basis)
• D.II only (Business connection requirement)

Which of the following federal laws was passed in the U.S. after September 11, 2001, to expedite check clearing by allowing check truncation at any point in the check clearing process?

• A.Sarbanes-Oxley
• B.Check 21
• C.The Patriot Act
• D.Gramm-Leach-Bliley

Cash management refers to an organization's management of which of the following?

• A.Inflow and outflow of funds
• B.Payroll disbursements
• C.Payment terms
• D.Enterprise resource planning systems