Quiz: What Do You Know About Expense Approval Responsibilities?

6 Questions | By FCProcurement | Updated: Mar 20, 2022 | Attempts: 173

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Quiz: What Do You Know About Expense Approval Responsibilities? - Quiz

What Do You Know About Expense Approval Responsibilities? When running a business, it is important to ensure that every procedure is cleared before it takes place, or else the business assets would be used inappropriately or some expenses not be justified. Take up this quiz and see how well you understand procedures you should follow when it comes to expenses.

Questions and Answers

1.

Statement Reports cannot be submitted until the 22nd of every month and must be approved by the end of the month
- A.
  
  True
- B.
  
  False
2.

As an approver, your main responsbility(s) is to-
- A.
  
  Check if the purchases are legitimate
- B.
  
  Check for correct allocations and expense entries
- C.
  
  Check if all charges have been reconciled
- D.
  
  All of the above
3.

You can set up a permanent approver who can approve in your absence
- A.
  
  True
- B.
  
  False
4.

If needed, your expense delegate can approve an expense report for you
- A.
  
  True
- B.
  
  False
5.

If you found something incorrect with a report, the best way to approach this would be-
- A.
  
  Resend the report to the employee
- B.
  
  Approve it and let them know
- C.
  
  Notify the PA
- D.
  
  Ask the user to recall their report
6.

A temporary approver is the same as a default approver -
- A.
  
  True
- B.
  
  False