Quiz: What Do You Know About Expense Approval Responsibilities?
6 Questions
| Total Attempts: 31
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
Here is an interesting conceptual framework quiz that is designed to test your knowledge of this subject. The conceptual framework can be described as a written or visual representation of an expected relationship between...
Questions: 41 | Attempts: 72313 | Last updated: Jan 16, 2022
-
Sample QuestionThe purpose of the Conceptual Framework is:
Are you ready for a quick account knowledge quiz? For a business to prosper, what they need most is funding which can come through investments, cash or selling their shares. What do you understand about these different types...
Questions: 8 | Attempts: 21398 | Last updated: Sep 14, 2020
-
Sample QuestionWhat is stockholders' equity?
Questions: 10 | Attempts: 11149 | Last updated: Jan 19, 2022
-
Sample QuestionA source document is:
Back to top