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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 II only

C.

II and III only

D.

I and III only

Regarding documents required to complete a three-way match, which is typically the most difficult to obtain in a timely manner?

A.

E-invoice

B.

P-card statement

C.

Expense report

D.

Receiving report

Which of the following are reasons an employee should keep and submit T&E receipts, even if using a corporate travel card?

A.

I, II, and III (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)

B.

I and III only (There may be additional expenses for items paid out-of-pocket; The card information may not include the sufficient level of detail needed for approval)

C.

I and II only (There may be additional expenses for items paid out-of-pocket; Paper receipts are more easily handled and archived than electronic ones)

D.

II and III only (Paper receipts are more easily handled and archived than electronic ones; The card information may not include the sufficient level of detail needed for approval)

Addressing data security involves the use of:

A.

I only (Hardware)

B.

I and III only (Hardware; Human resources)

C.

I and II only (Hardware; Software)

D.

I, II, and III (Hardware; Software; Human resources)

In order to get a sales tax exemption on goods purchased for resale, what must the buyer do?

A.

File a letter of intent with the local taxing jurisdiction

B.

Provide an exemption certificate to the seller

C.

Inform the state in writing that the tax will be paid by the buyer

D.

Supply a copy of a sales tax license to the seller

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

A.

I only (Expense substantiation)

B.

I, II, and III (Expense substantiation; Business connection requirement; Return of unused cash advances on a timely basis)

C.

II only (Business connection requirement)

D.

I and III only (Expense substantiation; Return of unused cash advances on a timely basis)

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

Key elements essential for an effective vendor fraud prevention program include each of the following practices, EXCEPT:

A.

Confirmation of a physical address

B.

Verifying that vendors are bonded

C.

Checking government sanction lists

D.

Requiring a W-9

Each of the following is a goal of a vendor management program, EXCEPT:

A.

Reducing duplicate payments

B.

Streamlining sales and use tax process

C.

Collecting spend information for procurement

D.

Compliance with laws and regulations

Each of the following is one of the most common types of fraudulent expense reimbursement schemes, EXCEPT:

A.

Personal expenses reported as business-related

B.

Forged or modified travel receipts

C.

Multiple reimbursements for the same expense

D.

Lapping schemes for transportation cost