Preview Questions Accounts Payable/Receivable Clerk | Role Specific Skill

Question 1: How would you handle a discrepancy between a payment and an invoice during reconciliation?

Which action should you take?

Choose only one option

By immediately rejecting the payment without further review

By investigating the transaction and making necessary adjustments

By ignoring the discrepancy as long as the total matches

By applying the payment to another invoice

Question 2: What is the primary purpose of the "invoice aging report" in accounts payable?

Which action should you take?

Choose only one option

To highlight outstanding invoices and monitor overdue payments.

To summarize the company's profit margins.

To track the company's revenue over a period.

To analyze the accuracy of purchase orders.

Question 3: How do you ensure compliance with internal company policies while dealing with suppliers?

Which action should you take?

Choose only one option

Suppliers are responsible for following policies, not the accounts payable team.

Follow internal procedures for approving payments, ensuring they are documented and aligned with supplier agreements.

Trust suppliers to adhere to the company's policies without oversight.

Only involve internal procedures when making large payments.

Question 4: What approach should you take when a supplier requests a price increase in the FMCG industry?

Which action should you take?

Choose only one option

Assessing the supplier's reasoning and negotiating terms based on market conditions

Delaying the decision and waiting for a better offer

Rejecting the price increase without discussion

Agreeing to the increase without negotiation

Question 5: How do you handle early payment discounts when processing invoices?

Which action should you take?

Choose only one option

Apply the discount but pay later.

Process the invoice without considering the discount.

Disregard the discount, as it is not applicable.

Adjust the payment based on the early payment discount terms.

Question 6: How do you handle duplicate invoices in the processing system?

Which action should you take?

Choose only one option

Compare invoice numbers and amounts against previously entered invoices to avoid duplicate payments.

Process each invoice separately, even if it appears to be a duplicate.

Duplicate invoices are rare, so they do not need any special handling.

Only process invoices that are manually approved by the finance team.