GFEBS Reimbursable Questions and
Answers | Latest Update | 2024/2025 |
100% Pass
What is the purpose of a reimbursable transaction in financial management?
The purpose of a reimbursable transaction is to document and process the recovery of costs
incurred on behalf of another entity.
H...
What is the purpose of a reimbursable transaction in financial management?
✔✔ The purpose of a reimbursable transaction is to document and process the recovery of costs
incurred on behalf of another entity.
How is a reimbursable agreement initiated?
✔✔ A reimbursable agreement is initiated by creating and approving an agreement outlining the
terms and conditions for cost recovery.
What information is typically included in a reimbursable agreement?
✔✔ A reimbursable agreement typically includes the scope of work, cost estimates, payment
terms, and the responsibilities of each party.
How are reimbursable costs tracked and recorded?
✔✔ Reimbursable costs are tracked and recorded through detailed transaction entries that
include the cost category, amount, and related agreement details.
1
, What steps are involved in processing a reimbursable transaction?
✔✔ Steps include verifying the agreement, recording the expense, generating an invoice, and
tracking payment receipt.
How are payments for reimbursable transactions managed?
✔✔ Payments are managed by issuing invoices based on the agreed terms and recording
received payments against the outstanding amounts.
What role does documentation play in reimbursable transactions?
✔✔ Documentation is crucial for supporting the validity of expenses, providing evidence of cost
recovery, and ensuring compliance with agreement terms.
How can discrepancies in reimbursable transactions be resolved?
✔✔ Discrepancies can be resolved by reviewing transaction details, communicating with the
involved parties, and making necessary adjustments or corrections.
What is the importance of timely invoicing in reimbursable transactions?
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.97. You're not tied to anything after your purchase.