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Free AFP CTP Exam Questions (page: 41)

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PDF with 1076 Questions

An accounts payable manager has been mandated to accept all trade discount opportunities with an effective cost of discount above 25%. An invoice has been presented and approved for payment with terms of 3/5, net 30 days. What is the difference between the effective cost of discount offered, and the 25% rate set by the company?

  1. 14%
  2. 17%
  3. 20%
  4. 22%

Answer(s): C



For a retirement plan to be qualified under ERISA, employer and employee contributions must be:

  1. invested to maximize portfolio return.
  2. placed in a separate fund held by a third party.
  3. placed with a professional investment manager.
  4. invested to provide a defined benefit for plan participants.

Answer(s): B



Which of the following is an important component of corporate governance?

  1. The existence of a large number of institutional investors
  2. The activities of independent outside auditors
  3. The existence of a matrix management structure
  4. The level of compliance with GAAP

Answer(s): B



In order to be defined as independent, a corporate director:

  1. cannot have owned preferred stock shares in the company.
  2. cannot have a material relationship with the company.
  3. cannot meet regularly with executive management outside of board meetings.
  4. cannot have been an employee with the company during the past three years.

Answer(s): B



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