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IOFM Accredited Payables Specialist (APS) Certification Sample Questions:
1. What is another term for "software-as-a-service"?
A) Consultant-specific applications
B) On-demand software
C) Onsite vendor support
D) Perpetual software license
2. Which party is responsible for providing 1099 information for P-card transactions to the IRS?
A) Card issuer
B) Accounts payable
C) Card user
D) Merchant
3. Common elements required in a VAT-acceptable invoice include all of the following, EXCEPT:
A) The supplier's banking information
B) The VAT rate applied
C) The customer's VAT identification number
D) The date of invoice issue
4. All of the following are examples of key performance indicators (KPIs) EXCEPT:
A) Positive pay
B) Lost discounts
C) Invoices paid on time
D) Cost per invoice
5. The acronym GAAP stands for which of the following?
A) General Accounting Administration Program
B) Generally Accepted Accounting Principles
C) Government Accounting Actuarial Program
D) Government Accounting Acceptance Principles
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: B |







