The Fort Lauderdale AP run shows this exception: invoice amount exceeds purchase order. What administrative response should occur before payment?
Correct Answer
C) variance approval hold
Accounts payable exceptions should be resolved before the payment is released.
Why This Is the Correct Answer
Accounts payable exceptions should be resolved before the payment is released.
Why the Other Options Are Wrong
Option A: released payment batch
released payment batch puts the item in the wrong financial bucket, timing, base, or comparison for ap exception control.
Option B: archived bid-form file
archived bid-form file puts the item in the wrong financial bucket, timing, base, or comparison for ap exception control.
Option D: renewed vehicle tag
renewed vehicle tag puts the item in the wrong financial bucket, timing, base, or comparison for ap exception control.
Memory Technique
Accounts and payable point to different ledger roads for Supervisor Reviews.
Reference Hint
Open-book path: tab Contractor's Manual, 2025 to Business Administration, Accounts Payable Exception Controls; verify the record, approval, or control duty before selecting the answer.
More Business & Finance Questions
The Cedar Key subcontract closeout file requires 44 final releases, and 31 have been received. How many releases are missing?
A Florida GC prepaid $18,000 for annual insurance and expenses it evenly by month. After 7 months have expired, what prepaid asset remains?
The West Miami system access list starts with 22 active users, adds 4, and removes 7. How many active users should remain?
The Winter Park bank review shows a bank balance of $124,600, book balance of $119,400, and known timing items of $3,200. What unexplained difference remains?
The Riverview bank review shows a bank balance of $87,500, book balance of $90,400, and known timing items of $1,600. What unexplained difference remains?
A Satellite Beach contractor had 4 separations during the quarter and an average headcount of 32. What turnover rate should HR report?
A Winter Park startup budgets monthly overhead of $61,500 and wants a 4-month operating reserve. What reserve should be funded?
A Royal Palm Beach customer account has unpaid approved invoices of $126,000. Company policy requires review when unpaid invoices exceed $100,000. What status applies?
A Wildwood contractor had 9 separations during the quarter and an average headcount of 60. What turnover rate should HR report?
A Clermont field group had 64 absence hours out of 1280 scheduled hours. What absence rate should be reported?
People Also Study
Related Study Resources
Previous Question
A Jupiter trade estimate carries a small-tools allowance of 1.8% of direct labor. Direct labor is $52,500. What allowance should be included?
Next Question
Before submitting the Ocala bid, the coordinator must verify the alternates selected by the estimator. Which administrative record is the best control?