Finance is the management of abundant sums of money, which large companies typically oversee. Finance involves a myriad of principles. For this quiz, you will be required to know whether parked documents reduce the budget, why invoices are parked, what the accounts payable approver do before they post a parked invoice and the two types of receipts. This quiz will bring you into the financial world. Good luck to you.
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False
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False
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Verify the three way match that goods and/or services received do not exceed the amount in the purchase order and the amount invoiced matches the amount received.
Verify that the invoice has the correct data for the vendor, bank, GL code, etc.
Post a Journal Voucher entry.
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The date of posting in the system.
The value date of the receipt.
The date of parking in the system.
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True
False
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Parameters entered, Payment Proposal created, Payment Run carried out, Schedule Print carried out.
Payment Proposal created, Parameters entered, Payment Run carried out, Schedule Print carried out.
Payment Proposal created, Parameters entered, Schedule Print carried out, Payment Run carried out.
True
False
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Direct Cash Transfer and Electronic Funds Transfer.
Cheques and Electronic Funds Transfer.
Cheques and Direct Cash Transfer.
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Segregation of duties between processing and approving functions.
Funds Reservations not completed.
Unsuccessful three-way match (e.g. invoice amount is higher than the GR amount)
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When bank activity is provided.
When an electronic bank statement is unavailable.
When automatic clearing is unsuccessful.
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