Podcast
Questions and Answers
What is the primary purpose of the policy discussed in the text?
What is the primary purpose of the policy discussed in the text?
- To manage accounts payable accurately and timely
- To establish guidelines for trade credits granting (correct)
- To seek ratification from the NNPC Limited Board
- To ensure compliance with GRC biennial review
Who is authorized to grant exceptions to the application of the policy discussed in the text?
Who is authorized to grant exceptions to the application of the policy discussed in the text?
- GRC
- Accounts Payable department
- GCEO (correct)
- Board of NNPC Limited
What is required to be recorded as accounts payable as per the discussed policy?
What is required to be recorded as accounts payable as per the discussed policy?
- Purchase order only
- Goods received note only
- Proper documentation as per the policy (correct)
- Contract agreement/letter of intent only
What is the purpose of the Imprest Management policy discussed in the text?
What is the purpose of the Imprest Management policy discussed in the text?
What happens if a debtor cannot be located?
What happens if a debtor cannot be located?
Who is authorized to grant exceptions to the application of policies within NNPC Limited?
Who is authorized to grant exceptions to the application of policies within NNPC Limited?
What is the first right of NNPC staff for movable assets approved for disposal according to the text?
What is the first right of NNPC staff for movable assets approved for disposal according to the text?
How should the disposal of assets to salvage buyers be conducted according to the text?
How should the disposal of assets to salvage buyers be conducted according to the text?
What department is responsible for overseeing the receipt of payment for disposed assets according to the text?
What department is responsible for overseeing the receipt of payment for disposed assets according to the text?
In what circumstance can disposed assets be transferred to the buyer according to the text?
In what circumstance can disposed assets be transferred to the buyer according to the text?
