| Exam Code | APS |
| Exam Name | Accredited Payables Specialist (APS) Certification Exam |
| Questions | 100 Questions Answers With Explanation |
| Update Date | July 16,2026 |
| Price |
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Ways to minimize the number of rush checks that are requested include:
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 arush check processing fee)
C. I, II, and III (Distribute the check run schedule with cut-off dates and times, Charge arush check processing fee, Publish the names of frequent rush check requestors)
D. II only (Charge a rush check processing fee)
Electronic Data Interchange (EDI) has not gained more widespread use, particularly by small and medium-size companies, in part because of:
A. Government regulations
B. Staff resistance
C. Costly technology
D. Security concerns
What is another term for “software-as-a-service”?
A. Perpetual software license
B. Onsite vendor support
C. Consultant-specific applications
D. On-demand software
What is blockchain?
A. A distributed ledger system
B. A random password generator
C. An internal audit methodology
D. An accounts payable collaborative
To protect your organization from employee fraud, which of the following controls should be employed?
A. Require that all potential employees sign an NDA prior to hire
B. Ensure all staff members have accounting degrees from accredited universities
C. Hire only temporary employees and rotate them out every six to eight months
D. Conduct detailed background checks on all new AP employees
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-todate
B. Submit a request to the Internal Revenue Service to do a Form 1120 search
C. Require a sworn affidavit from the vendor’s financial institution
D. Check the database of the Secretary of State where the vendor is registered
What is the current thinking regarding automation of T&E expense handling, reporting, and reimbursement?
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
Which of the following IRS documents addresses travel & entertainment (T&E) expenses?
A. Notice 1009
B. Publication 463
C. Advisory 972
D. Form 1046
What is an important reason an organization’s tolerance level for discrepancies between aPO and an invoice should be kept confidential?
A. To prevent vendor fraud
B. To keep procurement alert to not making mistakes
C. To avoid scrutiny by internal audit
D. To allow overages to be deposited into a secure fund for executive use
The COSO framework’s categories of internal controls include each of the followingEXCEPT:
A. Control environment
B. Information and communication
C. Risk assessment
D. Accounting principles
Good vendor master file practices include each of the following, EXCEPT:
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
Payments to non-resident aliens for services that are performed in the U.S. must be reported on Form 1042-S if the payment amount exceeds:
A. $1,000
B. $600
C. $0
D. $300
Cash management refers to an organization’s management of which of the following?
A. Payment terms
B. Payroll disbursements
C. Enterprise resource planning systems
D. Inflow and outflow of funds
What does the acronym “FIFO” mean?
A. First In, First Out
B. Fifty Invested, Five Optioned
C. Fraud In Financial Operations
D. Final Invoice For Offset
Sales and use taxes are levied by which of the following? I. Cities and towns; II. Federal government; III. States.
A. II and III only
B. III only
C. I and III only
D. I, II, and III
What is a good strategy for dealing with the change that typically accompanies automation?
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
COSO identifies each of the following elements as necessary for an effective control environment, EXCEPT:
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
Which of the following has significantly reduced the number of small dollar invoices to be processed?
A. Petty cash
B. Evaluated receipt settlement
C. Electronic data interchange
D. Payment cards
Examples of preventive controls include each of the following EXCEPT:
A. Use of approved vendor lists
B. Dollar limits on use of P-card
C. T&E expenditure guidelines
D. Account reconciliation
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 paymentelectronically; III. Mail the payment.
A. II and III only
B. I, II, and III
C. I and II only
D. I and III only
According to the ACFE, which of the following is the most common type of fraud scheme?
A. Asset misappropriation
B. Intellectual property fraud
C. Corruption (bribery)
D. Financial misstatement
When auditing expense reports, one thing to pay particular attention to is:
A. Restaurant receipts that include client names
B. Highly itemized receipt details
C. Amounts just below the approval threshold
D. Airfare expenses in combination with hotel costs
Which of the following are potential red flags for T&E expenses that fall outside of policy?
A. II and III only (Cab fares; Weekend stays)
B. I only (Charges for airline upgrades)
C. I and III only (Charges for airline upgrades; Weekend stays)
D. II only (Cab fares)
To establish a successful shared services center, each of the following is required EXCEPT
A. Performance metrics
B. A customer service orientation
C. A greenfield site
D. A change in mindset
Which of the following describes the possible consequences for anyone engaging in misconduct relating to the Sarbanes-Oxley Act?
A. Corporate dissolution
B. Criminal penalties
C. Industry blacklisting
D. Community service
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