Online Access Free APS Exam Questions

According to the IRS definition of an accountable plan, how much time is given an employee to adequately account for business expenses after they are incurred?

• A.60 days
• B.30 days
• C.120 days
• D.90 days

In the U.S., what is the best way to verify a vendor's business registration?

• A.Send a letter to the vendor requesting written confirmation that the registration is up-to-date
• B.Require a sworn affidavit from the vendor's financial institution
• C.Submit a request to the Internal Revenue Service to do a Form 1120 search
• D.Check the database of the Secretary of State where the vendor is registered

When maintaining an audit trail of changes to the vendor master file, which of the following should be recorded? I. Who requested the change; II. Who actually made the change; III. The date the change was made.

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

When checking the address of a new vendor, what is one potential red flag?

• A.The vendor does not appear to use a post office box
• B.The vendor has the same address as one of the organization's own locations
• C.The vendor is located in an unincorporated area
• D.The vendor's warehouse and its accounts receivable address are different

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

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