Multiple Choice Questions: The Online Learning Center includes these questions and the analysis question at www.mhhe.com/yacht2012, select Student Edition, Chapter 2, QA Templates.

_____1. In Chapter 2, backups are made to the following location:

The place specified for the USB drive.

C:\SageSoftware\Peachtree\Company\ [filename].

X:\Exercise 1A.

< >

None of the above.

_____2. Cash discounts from vendors in return for early payment of an invoice are called:

Sales discounts.

Returns and allowances.

Purchase discounts.

< >

None of the above.

_____3. You can enter information within a lookup field by using one or more of the following keys:

a. Type the<+>symbol.

b. Double-click with the mouse.

c. a. or b.

d. Type the invoice number.

e. None of the above.

_____4. Why is it important that your coding system for vendors be consistent and logical?

All vendors and customers should be identified by 3digits.

So that others working in your company can determine a vendor code from the company name.

All the vendors and customer numbers are already set up for Bellwether Garden Supply so you don't have to worry about it.

All customers and vendors should be identified by the first eight letters of a company's name.

None of the above.

_____5. Why are purchase orders used?

To post accounting information.

To place an order with a customer.

To update the accounts payable subsidiary system.

To request items from a vendor.

None of the above.