Question
1.When you enter a different exchange rate for a currency during a purchase transaction, you will - a. be asked if you wish to make
1.When you enter a different exchange rate for a currency during a purchase transaction, you will -
a. be asked if you wish to make the new rate the default rate for that date
b. be asked to confirm that you want to change the rate
c. need to enter the new rate in the currency information setup window to make it the default
d. be reminded to reset the exchange rate in the bank's ledger record
2.If you forgot to add shipping details to a purchase invoice, you should -
a. adjust the invoice to add shipping information
b. phone the supplier to get the missing information
c. look up the invoice, choose track shipments and add the shipping details
d. leave it, you do not need the shipping details
3.Credit card bill payment amounts -
a. are always the same as the credit card payable account balance
b. are recorded in the payments journal
c. do not involve any linked accounts
d. are recorded in the general journal by crediting bank and debiting credit card payable
4. The receipts journal is used for all but one of the following -
a. entering cash sales to customers
b. entering deposits from customers
c. entering a customer's NSF cheque
d. entering the receipt of an HST refund
5. All but one of the following are true about daily business manager lists -
a. they provide a diary or reminder system for things to do
b. they are dated automatically for one week past the session date
c. they are activated at startup from the maintenance menu
d. double click any detail and the journal entry appears for posting
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