1) Which of these statements is incorrect? Select one: A. The purchase of goods can be entered on an Invoice. B. The sale of goods to customers can be entered on an Invoice. C. An order of inventory items is entered on a Purchase Order.

2) Takke Company orders 10 inventory part items on a purchase order. Five of the items are received along with the bill. Takke Company opens a bill form and selects the vendor.

What is the next step? Select one: A. Takke should manually enter the items and quantities received in the item details section of the bill. B. Takke should close the bill form, open the purchase order, change the quantity, and select Create Bill. C. Takke should add the items (including quantities) from the purchase order to the bill. The quantity should be changed to 5 directly on the bill.

3) Takke Company orders 10 inventory part items on a purchase order. All 10 items are received with a packing slip but no vendor invoice.

What is the next step? Select one: A. Takke should open the purchase order, and select Pending Invoice. B. Takke should open a bill form, select the vendor, and add the items (including quantities) from the purchase order to the bill. When the vendor invoice is received, a separate bill should be created to reflect any pricing changes. C. Takke should open a bill form, select the vendor, and add the items (including quantities) from the purchase order to the bill. When the vendor invoice is received, the bill should be adjusted to reflect any pricing changes.

4) The Open Purchase Order List report can be found in the ________ section of the Standard Reports tab after selecting Reports on the navigation bar. Select one: A. What you Owe B. Accountant Reports C. Expenses and Vendors

5) It's 6/5 and Trilogy, Inc. is ready to pay a $480 bill from their supplier. The bill is dated 5/20 and the terms are 1%/10, net 30. Their supplier assesses a $10 late charge on any late payments. How much do they owe?

Select one:

A. $490.00

B. $470.40

C. $480.00

NB: If you do not know the correct answer, please skip to answer question. Thanks