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Accounts Payable Test (Upwork)
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Avg score: 30% • Most missed: “Why is the purchasing department critical to accounts payable?”

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Accounts Payable Test (Upwork)
Time left 00:00
25 Questions

1. True or False? A three-way match is a good way to protect a companies liabilites.
2. What is the definition of accounts payable?
3. What is one of the advantages of drop shipping?
4. What is an assumed receipt?
5. Why is the purchasing department critical to accounts payable?
6. What is a benefit of using a procurement card?
7. Which of the following is true about a voucher used in accounts payable?
8. What are payment gateways used for?
9. In the context of accounts payable
10. True or false? Another name for accounts payable is notes payable liabilities.
11. Accounts payable information is found reviewing the which of the following?
12. If your company is offering your customers a 2/10 net 30 discount
13. What is the definition of working capital?
14. True or False? A receiving report is essentially a document from a company that lists the goods it has received.
15. Accounts payable can usually be broken down into which two categories?
16. True or False? A vendor invoice is sent from a vendor to a company for some services or goods rendered.
17. True or False? Accounts payables are only limited to businesses.
18. What aspect is most important about the relationship between purchasing and accounts payable?
19. If a paycheck was automatically deposited
20. Per annum means which of the following?
21. What are procurement cards used for?
22. What three documents are included in a three-way match?
23. Your company accidentally sent a duplicate payment. Where is this money sent?
24. Which of the following are one of the steps in a Standard Monthly Accounting Closing Cycle?
25. What is the definition of working capital?

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