I need answers to these questions. I really appreciate your help in advance.

1. NSF cheques are journalized to Accounts Receivable from the Unresolved account directly from the Account Reconciliation module. TRUE or FALSE

2. In the EMPLOYEE & PAYROLL module, the term retain vacation refers to:

a. An option to release vacation pay accumulated from prior periods.

b. An option to release vacation pay with each paycheque.

c. An option to keep vacation pay until the employee makes a written request to receive the vacation pay.

d. Accrued pay paid between payroll dates to terminated employees.

3. In the EMPLOYEES & PAYROLL module, payroll entries recorded with errors:

a. Can be corrected using the Calculate Taxes Automatically" icon.

b. Are reversed using a negative amount in the "Payroll Cheque Run."

c. Are reversed using the Adjust Payroll icon, selecting the cheque in error and reversing the cheque.

d. Are corrected using positive amounts in the "Payroll Cheque Run."

4. Regarding payroll, which of the following statements is false?

a. A T4 slip is prepared by the employer detailing employee's earnings and government deductions.

b. A TD1 form is prepared by employees to calculate their basic income exemption.

c. Sage 50 Accounting uses the call letters WCB to refer to the Workers Safety Insurance Board (WSIB).

d. Gross Pay is the amount of pay the employee takes home (amount of the cheque given to the employee).

5. Which of the following is true? An advance of salary/wages is:

a. The opposite of a release of pay.

b. Offered at the discretion of the employer to employees who meet management guidelines.

c. A government legislated requirement for businesses to provide to employees.

d. Is subject to payroll taxes (CPP, E.I., and not Income Taxes).

6. In the Employee Payroll Ledger, if the Retain Vacation field is checked, then:

a. Vacation pay is accumulated until the employee takes a vacation.

b. Vacation pay is paid at the rate of 4% on each paycheque.

c. Accumulated vacation time owing to the employee is held over until the next fiscal year.

d. The employee is opting to earn vacation time off instead of vacation pay.

7. Which of the following statements is true?

a. When an employee who is paid on a weekly basis takes two weeks vacation, the payroll frequency should be changed to 26.

b. If the session date has been advanced in error to the last day of the month this will stop the first three weeks of the month payroll transactions from being recorded.

c. Both the Payroll Journal and the Payroll Cheque Run will permit negative cheques (necessary for corrections).

d. The term Net pay refers to the amount of the total pay the employee earned during the period (week, bi-weekly, month).

8. In the EMPLOYEES & PAYROLL Module, which of the following is true regarding the term Wages/Salary Expense:

a. Amount paid to employee for work done for the business.

b. Amount owed to employee for work to be done after the current pay period.

c. Amount that the employee earned for the current pay period.

d. Both a) and c) are correct.

9. The INVENTORY module is used:

a. By companies using the periodic inventory system.

b. By companies using the perpetual inventory system.

c. By companies using either the perpetual or periodic inventory systems.

d. By companies selling goods only (not services).

10. The Mark-up method in Sage 50 Accounting refers to the calculation of gross profit: Which of the following is the method used in the calculation.

a. (Selling price Cost)/Cost * 100.

b. (Selling price Cost)/Selling Price * 100.

c. Formula based on groups of products sold as a single unit (a printer and a black cartridge).

d. Selling price/(Selling Price-Cost).