Online Access Free CTP Practice Test

Which of the following forms of payment is covered by Regulation CC?

• A.Debit card
• B.Credit card
• C.Cash
• D.Check

An optimal concentration system minimizes all of the following EXCEPT:

• A.excess balances.
• B.disbursement float.
• C.transfer costs.
• D.administrative costs.

The year-end income statement and balance sheet accounts for a company as of December 31, Year 1 are shown in the Exhibit.
If no changes occurred in the current asset and current liability account balances from the beginning of the period, except for cash, what was the net cash flow from operations for Year 1?

• A.$350,000
• B.$400,000
• C.$365,000
• D.$390,000

The Governmental Accounting Standards Board (GASB) is the authoritative standard-setting body for which of the following?

• A.Public works agencies
• B.Private universities
• C.Healthcare organizations
• D.Publicly traded companies

Of the following card transactions, which would likely incur the highest interchange fees?

• A.A standard credit card transaction accepted through a physical mobile card reader
• B.A standard credit card transaction accepted over the phone
• C.A standard debit card transaction accepted through a point-of-sale device
• D.A standard credit card transaction accepted through a point-of-sale device