ACCOUNTS PAYABLE EXAM
QUESTIONS WITH VERIFIED
ANSWERS. A+ GRADE 2025/2026.
AP reflect the _____ _____ resulting from purchasing goods or receiving services on account or
not _____ - ANS debts owed credit
t/f: AP has be enabled - ANS true
t/f: purchase order have to be enabled - ANS true
the ____ is the first step in the AP process - ANS Purchase Order
when you bill a PO you _____ AP and _____ Inventory (credit or debit) - ANS credit AP
debit Inv
When you process a payment you _____ checking and ____ AP (credit or debit) - ANS credit
checking
debit AP
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, When you receive items you _____ unbilled inventory received and ____ inventory (credit or
debit) - ANS credit unbilled inv received
debit inventory
the last step in AP is - ANS vendor payment
When you create a PO you credit _____ and debit______ - ANS purchasing, inventory
the _____ is matched against on open PO - ANS item receipt
nav path to create new vendor - ANS vendors-> lists-> vendors-> new
or personalize new bar to add vendor
t/f: you can assign an unlimited of subsidiaries to a vendor - ANS trueish -
you can assign a primary and unlimited number of secondary subsidiaries
t/f: a purchase order has an accounting impact - ANS f
it has no accounting impact until you receive the order
how are purchase request and purchase orders related? - ANS PR can also be used to
purchase items, materials, or services from vendors
a PR must be converted into a PO before the purchase can be made
create PR-> approve PR-> create a PO
A PR is a _____ form - ANS internal
nav path for new PO - ANS vendors-> Purchases-> enter POs
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
QUESTIONS WITH VERIFIED
ANSWERS. A+ GRADE 2025/2026.
AP reflect the _____ _____ resulting from purchasing goods or receiving services on account or
not _____ - ANS debts owed credit
t/f: AP has be enabled - ANS true
t/f: purchase order have to be enabled - ANS true
the ____ is the first step in the AP process - ANS Purchase Order
when you bill a PO you _____ AP and _____ Inventory (credit or debit) - ANS credit AP
debit Inv
When you process a payment you _____ checking and ____ AP (credit or debit) - ANS credit
checking
debit AP
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, When you receive items you _____ unbilled inventory received and ____ inventory (credit or
debit) - ANS credit unbilled inv received
debit inventory
the last step in AP is - ANS vendor payment
When you create a PO you credit _____ and debit______ - ANS purchasing, inventory
the _____ is matched against on open PO - ANS item receipt
nav path to create new vendor - ANS vendors-> lists-> vendors-> new
or personalize new bar to add vendor
t/f: you can assign an unlimited of subsidiaries to a vendor - ANS trueish -
you can assign a primary and unlimited number of secondary subsidiaries
t/f: a purchase order has an accounting impact - ANS f
it has no accounting impact until you receive the order
how are purchase request and purchase orders related? - ANS PR can also be used to
purchase items, materials, or services from vendors
a PR must be converted into a PO before the purchase can be made
create PR-> approve PR-> create a PO
A PR is a _____ form - ANS internal
nav path for new PO - ANS vendors-> Purchases-> enter POs
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
