Accounts Payable Fundamentals

Measures knowledge of processing payables, vendor invoices and posting of journal entries

Description

The Accounts Payable Fundamentals (U.S.) test is part of the accounting fundamentals line of tests. These shorter (30-item) tests measure the candidate’s knowledge of processing payables and vendor invoices and the posting of journal entries. Designed for accounting clerks and others who handle the processing of accounts payable, this test covers the following topics: Assets, Cash Management/Reconciliation, Controls, Expenses, Purchases, and Recording.

The candidate will need a calculator when taking this exam.

Job Family/Title: Accounting & Finance
Test Length: Approximate Completion Time: 20 Minutes
Number of Sittings: One
Designed for Unproctored Environment: Yes
Time Allowed: 3 Minutes Per Question
Maximum Number of Questions: 30
Question Format: Multiple Choice – Computer Adaptive Testing (CAT) technology dynamically adjusts the test to the level of the test taker resulting in shorter test times, increased accuracy and enhanced security.

Test Topics

Assets
• Buildings
• Cash
• Equipment
• Inventory
• Petty Cash

Basics
• Principles
• Vocabulary

Cash Management/Reconciliation
• Bank Accounts
• Ledger Accounts
• Scheduled Payments
• Terms

Controls
• Approvals
• Invoices
• Packing List
• Purchase Orders
• Vouchers

Expenses
• Office
• Overhead
• Rents/Leases
• Supplies
• Travel
• Utilities

Purchases
• Accounts Payable
• Discounts
• Notes Payable
• Prepaid
• Returns and Allowances

Recording
• Journals
• Posting
• Source Documents

Additional information

Appropriate For

Depth

Administration Time

Format

Scoring Options

Language

Legal in Canada?

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