Preview Questions Accounts Payable/Receivable Clerk | Role Specific Skill

Question 1: How do you handle refunds or credit notes in accounting software?

Which action should you take?

Choose only one option

By issuing a credit note linked to the original invoice.

By manually adjusting the payment balance.

By processing the refund as a new transaction.

By entering it as an expense adjustment.

Question 2: What is the key factor in handling disputes regarding invoice discrepancies?

Which action should you take?

Choose only one option

Ensure that you escalate immediately to management.

Always favor the supplier's records over internal ones.

Communicate and collaborate with both internal teams and the supplier for resolution.

Make adjustments based on company policies.

Question 3: How do you handle early payment discounts offered by vendors in FMCG invoice processing?

Which action should you take?

Choose only one option

By contacting the vendor for further clarification

By applying the discount after the full amount is paid

By rejecting early payment discounts and processing payments as usual

By ensuring the invoice is processed before the discount period expires and applying the discount

Question 4: How do you process an invoice that includes both product and service charges?

Which action should you take?

Choose only one option

By lumping both types of charges under a single expense account

By allocating product charges to inventory accounts and service charges to the respective expense account

By applying the service charges as a separate transaction and reviewing product charges separately

By treating the entire invoice as one charge to a single account

Question 5: How should a short payment from a customer be reconciled?

Which action should you take?

Choose only one option

Write off the short payment as an expense.

Immediately issue a full refund.

Record the short payment as a partial receipt.

Investigate the cause and follow up with the customer.

Question 6: How does accounting software help in managing recurring payments for suppliers in the FMCG industry?

Which action should you take?

Choose only one option

Recurring payments must be manually tracked and entered each time.

Only large suppliers with long-term contracts are included in the recurring payment system.

It allows setting up automated recurring payments based on agreed payment schedules.

Software does not manage recurring payments; this is handled separately.