Which statement about the GPC cardholder's responsibilities is FALSE?

The statement about the GPC cardholder's responsibilities that is false is that they approve purchases without oversight. In fact, GPC cardholders have specific guidelines and procedures they must adhere to, which typically involve some level of oversight or approval from a designated authority or supervisor. This structure is in place to ensure responsible spending and compliance with organizational policies.

Monitoring account performance goals, providing standard reports, and submitting ad hoc reports are all part of the cardholder's responsibilities, as they help maintain accountability and transparency in expenditures. These tasks are designed to provide accurate financial data and ensure that purchases align with the organization's objectives and regulatory requirements. Therefore, the notion that a cardholder can make purchasing decisions entirely unmonitored is inconsistent with the established practices for GPC cards.