i need help to solve these answers. thanks

1. The employee summary report option shows

a. wage or salary amounts

b. all year-to-date totals

c. all information entered in employee records

d. earnings and deductions from a paycheque

2. In the process of correcting a wrong employee error all but one is used

a. prepare a new entry for the correct employee

b. open the adjust cheque window for the employee

c. all amounts are automatically reversed when you choose void paycheque

d. one should remember to recalculate the taxes

3. To make payroll tax remittances

a. select pay remittance in the payroll journal and then select the supplier

b. select pay remittance in the payments journal and then select the supplier

c. select the supplier in the purchases journal and then select pay remittance

d. select the supplier in the payments journal and then select pay remittance

4. Which of the following are not defined in the payroll ledger settings screens

a. payroll tax deduction settings

b. payroll liability and expense linked accounts

c. income and deduction names

d. employee information and historical deductions

5. The employee default deductions

a. are the same for all employees

b. are entered into the employee ledger records

c. cannot be changed once you finish entering the history

d. are defined by the Canada Revenue Agency tax laws

6. Which of the following is not involved in setting up employee entitlements

a. naming the entitlements

b. entering linked accounts for the entitlements

c. entering the number of hours usually worked in a day

d. entering the number of days of entitlement accrued for the employee

7. When you create a new job category

a. all employees are assigned to the new category initially

b. no employees are assigned to you create a new job category new category initially

c. all employees in this category are not salespersons initially

d. you cannot assign an employee from another category to the new category at the same time

8. If the wrong inventory is selected in a purchase, you can make the correction before posting by

a. opening a new purchase invoice and entering the correct work

b. selecting the incorrect field, entering the correct item, re-entering the quantity

c. re-selecting the supplier from the suppliers list and recording the purchase from scratch

d. removing the purchase invoice from the edit menu and choosing redo

9. The most recent purchase price becomes the default for the next invoice when

a. the inventory is over stocked

b. you type in the amount and the quantity, there is no need to calculate unit price

c. a new price has been entered for an inventory purchase

d. a sale causes the inventory level to drop below zero

10. When you complete an item assembly journal entry to assemble new inventory

a. you must transfer inventory items one at a time

b. additional setup costs are divided equally among the assembled items

c. the quantity of assembled items will decrease

d. the quantity of assembly components will increase

11. Typing a letter or number of an inventory code in the Item Number field of the sales journal

a. allows you to see a reduced inventory drop-down list

b. opens the Add Inventory Item Wizard

c. opens a Sage 50 Accounting error message that the code is not valid

d. none of the above

13. The journal entry above shows that

a. the vacation pay is not allocated

b. the vacation pay is retained

c. the vacation pay has been paid

d. the vacation pay has not been calculated

14. Freight expenses

a. cannot be allocated when they apply to purchases of assets if the asset accounts do not allow

allocations

b. are allocated in the same proportion as the other accounts used in the purchase

c. are allocated separately from the other accounts used in the purchase

d. can never be allocated

15. What reports are affected by the budgeting process

a. income statements

b. balance sheets

c. customer sales summary reports

d. supplier purchases summary reports

16. Budget frequencies should be changed

a. when you want to report income for a shorter period than the budget

b. when you want to report income for a longer period than the budget

c. when the business cycle changes

d. whenever you change budget amounts

17. In the income statement reports, once budgets are set up

a. budgeted amounts may be omitted from the reports

b. actual amounts are always greater than the budgeted amounts

c. actual amounts are always less than the budgeted amounts

d. actual amounts are always given as a percentage of the budgeted amounts

18. Automatic fixed monthly payments such as auto lease, insurance premiums and mortgage

a. can be recorded in the account reconciliation journal or in the general journal

b. must be recorded with a normal general journal entry

c. should be recorded in the adjustments journal

d. should be recorded as cash payments because they involve withdrawals from the bank account

19. You will have an unresolved reconciliation amount

a. when a ledger is not balanced

b. when an account is not balanced

c. when the total debits and credits are not equal

d. when you have not entered bank charges for the month

20. You would use deposit reference no. when a single bank statement entry

a. shows that several cheques were withdrawn or cashed on the same day

b. shows the net effect of cheques and deposits for the same day

c. shows that more than one signature is needed to authorize bank transactions

d. shows that several cheques were deposited at the same time

21. To set up the accounts for recording bank deposit transactions separately from sales and receipts all

but one of the following are required

a. create a separate account for the undeposited receipts

b. set up the bank account receiving the deposits for account reconciliation

c. choose the undeposited receipts account as the account for receipts and cash sales

d. assign the bank or cash class to the undeposited receipts account

22. If inventory statistics details are not entered, you will

a. allow tracking of year-to-date inventory sales and purchases

b. not be able to track year-to-date inventory sales and purchases

c. allow tracking of number of transactions purchased

d. allow tracking of number of transactions sold

23. There are two units of an inventory item in stock. The selling price is $400 and the value is $400.

What is the individual cost of the item

a. $100

b. $200

c. $300

d. $400

24. To allow the choice between using the exchange rate or ledger information for individual foreign

inventory prices, you should

a. make the choice in the ledger record for the inventory item

b. make the choice in the inventory ledger settings screen

c. make the choice in the foreign customers ledger record screen

d. make the choice in the sales journal invoice screen

25. To change a suppliers currency after entering historical invoices and before finishing the history you

must

a. delete the supplier record and re-enter it

b. edit the currency selection

c. select the correct currency for later invoices and it will be changed for the supplier overall

d. pay historical transactions, clear paid transactions, remove the supplier record, re-enter the

supplier with the correct currency selection and re-enter the historical invoices