MOSC 12. Mr X sells grocery items. He purchases computer in cash to maintain his accounts. The entry in the accounts should be: a. Debit computer credit cash b. Debit inventory credit cash c. Debit equipment credit accounts payable d. Debit inventory credit accounts payable 13. Every payment made must include HST a. True b. False 18. The date shown in general journal a. is the transaction date by default b. is the session date by default c. cannot be changed d. always must be changed DUR 1. After posting a payment a. You cannot change it b. You have to start over c. You must enter a new negative payment d. You can change it by clicking the Adjust Payment tool 3. If at the time of entering a supplier, we are missing some pieces information a. We need to wait until our information is complete before adding the supplier b. We can leave those fields blank and add those details later. c. We need to add the supplier, but we cannot edit it later d. Suppliers do not need any detail information 4. Preparation of a Trial Balance is a compulsory step towards accounting cycle a. True b. False 22. Payment terms with suppliers are entered at the a. Payments journal b. Purchase journal c. Suppliers records d. General journal 24. A quick add of a supplier record means a. a one time entry without supplier being listed b supplier listed with full details c. supplier just listed