Preview Questions Accounts Payable/Receivable Clerk | Role Specific Skill

Question 1: How do you handle a supplier complaint regarding a delayed payment?

Which action should you take?

Choose only one option

By reviewing payment terms, contacting the supplier for clarification, and providing updates

By redirecting the complaint to the finance director

By processing the payment quickly without addressing the complaint

By ignoring the complaint until the payment is due again

Question 2: What is the significance of accrual accounting in the preparation of financial reports for accounts receivable?

Which action should you take?

Choose only one option

It ensures revenue and expenses are matched to the period in which they occur, improving accuracy.

It reduces the need for detailed reporting on outstanding balances.

It allows for the deferral of revenue recognition until payment is received.

It prevents the company from reporting too much revenue.

Question 3: How does an accounts payable clerk handle duplicate invoices in FMCG?

Which action should you take?

Choose only one option

By paying one invoice and placing the other on hold

By contacting the vendor and asking for clarification before action

By processing both invoices and allowing payments on both

By identifying the duplicate and rejecting or correcting it in the system

Question 4: How does a change in payment terms with a supplier affect the financial reporting process?

Which action should you take?

Choose only one option

It only impacts cash flow but does not require changes in financial reporting.

It requires an adjustment in the accruals and accounts payable reports to reflect the new payment timeline.

No adjustment is needed as it only affects the accounts payable ledger.

The change should be ignored in financial reporting as it's a minor issue.

Question 5: How do you handle payments received from customers when the accounts receivable report is incorrect?

Which action should you take?

Choose only one option

Write off the discrepancy as a bad debt.

Record the payment but flag it for future review.

Investigate the cause of the discrepancy and adjust the report accordingly.

Delay processing the payment until the report is corrected.

Question 6: How do you handle duplicate payments in the reconciliation process?

Which action should you take?

Choose only one option

Duplicate payments are rarely an issue and are not factored into reconciliation.

Identify duplicate payments by matching invoice numbers, and adjust accounts accordingly.

Assume duplicate payments are always mistakes and reverse them immediately.

Ignore duplicate payments as they will be reconciled later.