Accounting > QUESTIONS & ANSWERS > GSA SmartPay Purchase Account (Account Holders). Questions with accurate answers. Rated A+ (All)

GSA SmartPay Purchase Account (Account Holders). Questions with accurate answers. Rated A+

Document Content and Description Below

GSA SmartPay Purchase Account (Account Holders). Questions with accurate answers. Rated A+ If your agency permits, convenience checks may be used instead of a traditional purchase card when - Ans-... The merchant does not accept a traditional purchase card. Which of the following are NOT required for purchase account records? - Ans-The contact information for the merchant's bank. It is your responsibility to dispute questionable charges. If you don't, you (the account holder) will be held personally liable for the amount of the questionable charge. - Ans-True A purchase account can be used for which of the following purposes? - Ans-Purchase of office supplies under the micro-purchase threshold. When making a purchase, an account holder was recently informed by the merchant that the purchase account has been suspended, who should the account holder contact to address this matter? - Ans-The Agency/Organization Program Coordinator (A/OPC All of the following are responsibilities of a purchase account holder EXCEPT: - Ans-Paying the bank invoice on approved purchases ________discounts is the term used to describe automatic discounts that merchants apply at the time of a sale when you use your purchase account to make a purchase. - Ans-Point of Sale Account holders should be receiving a tax exemption for all purchases made using their GSA SmartPay Purchase Cards (CBA). - Ans-True__________is defined as verifying that the supply or service purchased by the purchase account actually meets the minimum requirements of the Government and that the bill should be paid in full. - AnsAcceptance Which of the following are purchase account benefits for the Government? - Ans-All of the above An account holder would like to make a purchase that exceeds the monthly limit on the purchase account. What is the next step? - Ans-Seek approval for an increase in his/her monthly limit from his/her Agency/Organization Program Coordinator (A/OPC) [Show More]

Last updated: 2 years ago

Preview 1 out of 3 pages

Buy Now

Instant download

We Accept: