Free IOFM APS Exam Dumps Questions & Answers

Detective controls do which of the following? I. Establish segregation of duties; II. Look for errors and irregularities; III. Determine if preventive controls are effective.

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

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

• A.Streamlining sales and use tax process
• B.Reducing duplicate payments
• C.Collecting spend information for procurement
• D.Compliance with laws and regulations

Which of the following is a part of a successful ERS (Evaluated Receipt Settlement) program?

• A.Receiving a complete invoice with the shipment
• B.Use of pro forma purchase orders
• C.Exclusion of early pay discounts
• D.Billing of miscellaneous charges separately

Which AP function is typically NOT considered a good candidate for business process outsourcing (BPO)?

• A.Performance monitoring
• B.Invoice imaging
• C.Check printing
• D.Utility payments

Evaluated Receipt Settlement (ERS) requires which of the following?

• A.Receipt and Invoice
• B.PO and Invoice
• C.PO, Receipt, and Invoice
• D.PO and Receipt