Accounts Payable Certification Practice Test

If you created a payment and subsequently submitted a request to stop payment, but later canceled that request, what is the resulting payment status?

1. Canceled

2. Stop initiated

3. Negotiable

4. Available

The correct answer is: Negotiable

When you create a payment and then submit a request to stop that payment, the payment is typically flagged as "Stop initiated." This indicates that there was an intention to halt the payment process. If you later cancel that stop payment request, the status of the original payment would revert back to an active state. In this case, the payment would not be labeled as canceled since that status indicates the payment has been voided and is no longer valid. "Negotiable" suggests that the payment can still be processed or negotiated further, which may not accurately reflect the status after canceling a stop payment request. "Available" could imply that the funds are ready for use, but it does not directly denote the specific status related to the payment process, which has a more nuanced indication following the stop payment handling. Thus, the most accurate resulting payment status after you cancel a stop payment request is that it remains in a state where it can still proceed, thus being logged under "Stop initiated" until completed.