8-Before closing the books for a fiscal period, you should print -

a. all the reports in the financials section of the reports menu

b. reports that provide sufficient detail to create new company files if necessary

c. all the reports available through Sage 50 Accounting

d. all of the management reports for the business

9-When accounts are not in logical order -

a. the total of debit and credit amounts in the Trial Balance may be unequal

b. you can finish the history but you cannot complete journal entries

c. your subtotal accounts may be following the subgroup accounts instead of the group accounts

d. you will be unable to display some reports

10-When you post a supplier invoice the following accounts are updated -

a. only the purchases and accounts payable subsidiary ledgers

b. all properly linked accounts

c. only the purchases, accounts payable ledgers and HST paid

d. only the purchases and accounts payable general ledgers

11-To record a partial payment in the payments journal, you must change -

a. the payment amount

b. the invoice number

c. the date of payment

d. the cheque number

12-For which of the following purchase invoice errors would you reverse the entire entry -

a. entering the wrong date for the invoice

b. entering the wrong supplier for an invoice

c. entering incorrect payment terms for the invoice

d. entering an incorrect account for the invoice

13-Why might the discount field be blank when entering a payment -

a. a discount is not set up

b. the discount has expired

c. a discount is not required

d. all of the above

14-Transactions entered in the sales journal will allow all but one of the following -

a. omitting the HST from the invoice

b. recording of all necessary details surrounding the invoice

c. only one type of transaction

d. more than one type of transaction