WorksheetsAccount Payable Quiz
Total questions: 10
Worksheet time: 3mins
Payables in the balance sheet can be classified as which of the following….
Asset
Debentures
Liabilities
Equity
Functions of Account Payable includes the following except………
Invoice processing
Payment processing
Record keeping
Preparing financial statement
The major goal of cost control is ………
Cost leadership
Forecasting
Profit maximization
Trade collections
Which is not part of clearing cost?
SON
Stevedoring
CFRN
NAFDAC
Trade payables includes the following except……
Purchase of diesel
Payment to spares vendor
Renting of barges
Purchase of cranes
Medlog business line includes the following except
Clearing
Shipping
Transport
Terminal
Apapa/Ikoyi cost center is......
NGLAGD1300
NGLAGA1100
NGLAGB2200
NGLAGC2100
Precoro & Fleetio can be used for.......
Invoice Processing
Payment requisition
Purchase requisition
Vendor reconciliation
The first 2 stages for Account Payable workflow process are
Verification & Payment
Vendor procurement & Creation
Vendor procurement & payment
Vendor procurement & verification
What is the primary purpose of the accounts payable process in a business?
To track employee salaries and wages
To record and manage incoming revenue
To monitor and control the company's expenses
To manage customer relationships and sales
