41. In order to see how charges were billed to a customer, you need to click the arrow next to the Apply Tickets/Expenses selection on which of the following window? Time/Expense, Time tickets window Sales/Invoicing window Time/Expense, Expense tickets window Purchase/Receive inventory window

Question 42. 42. The two accounts affected by posting a vendor receipt of items are:

Purchases and Inventory Inventory and Cash Inventory and Accounts Payable Accounts Payable and Cash

Question 43. 43. The different types of inventory items in PCA include all the following except:

Stock item Non-Stock Item Sale Item Charge Item

Question 44. 44. The inventory pricing method that yields the highest net income is the:

First-in, last-out Last-in, first-out First-in, first-out Average cost

Question 45. 45. The inventory item class used to identify goods purchased and held for resale is called the:

Stock item Non-stock item Service item Activity item

Question 46. 46. The LIFO (last in, first out) method of inventory assumes:

The lowest amount of net loss The highest amount of net income Cost of sales is based on current replacement Beginning inventory is sold first

Question 47. 47. A report used to show the transactions and amounts owed to each vendor is called the:

Aged Payables Vendor Ledger transportation ledger general ledger for accounts payable

Question 48. 48. The customer has returned merchandise so you need to issue a:

Sales invoice Sales order Inventory adjustment Credit memo

Question 49. 49. What information is found in every entry in the cash receipts journal?

Date of the cash receipt Name of the customer or other account credited Amount of the cash receipt All of the above

Question 50. 50. The default inventory costing method used by Peachtree is the:

Average Straight-Line LIFO FIFO