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IOFM APS Dumps Questions Answers

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Accredited Payables Specialist (APS) Certification Exam

Last Update May 6, 2025
Total Questions : 100 With Comprehensive Analysis

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Accredited Payables Specialist (APS) Certification Exam Questions and Answers

Questions 1

In order to get a sales tax exemption on goods purchased for resale, what must the buyer do?

Options:

A.

File a letter of intent with the local taxing jurisdiction

B.

Provide an exemption certificate to the seller

C.

Inform the state in writing that the tax will be paid by the buyer

D.

Supply a copy of a sales tax license to the seller

Questions 2

The acronym “VAT” stands for:

Options:

A.

Value assessed tax

B.

Variable added tax

C.

Variable assessed tax

D.

Value added tax

Questions 3

What is one benefit of entering a commodity code in a user-defined field when setting up a newvendor?

Options:

A.

It prevents a duplicate vendor from being entered

B.

It indicates which team member created the new record

C.

It automatically generates a price comparison to other similar vendors

D.

It enables procurement to use the data for spend analysis