QUESTION 1

1. The date field drop-down list of dates is available

   		whenever the date calendar appears
   		in report date fields and session date windows
   		in the general journal date field
   		all of the above

5 points

QUESTION 2

1. When you adjust a posted general journal entry, you can

   		change the date
   		change the account number or the amount
   		enter additional account lines
   		change any of the above

5 points

QUESTION 3

1. To record a NSF cheque, you can

   		re-enter the original sales invoice to restore the balance owing
   		reverse the receipt from the adjusting receipt screen
   		make a general journal entry that debits Accounts Receivable and credits the bank account for the cheque amount
   		use any of the above methods to record the NSF transaction correctly

5 points

QUESTION 4

1. To enter a date for an accounting transaction, you must

   		choose a date from the pop-up calendar
   		type the date in text style (e.g., April 8)
   		enter the month, day and year as two-digit numbers separated by a space
   		you may use any of the above to enter the date

5 points

QUESTION 5

1. Which one of the following statements is true about credit cards

   		credit card issuers charge a percentage of the sale as the transaction fee
   		credit cards used and credit cards accepted use the same set of linked accounts
   		the linked bank account for credit cards used is the payables linked bank account
   		the linked asset account for credit cards accepted is the receivables linked bank account

5 points

QUESTION 6

1. To correct a general journal entry you should

   		choose the adjust an entry option, choose the transaction, edit it and post
   		make a reversing entry and then enter the transaction correctly
   		make a reversing entry to cancel the original incorrect entry
   		enter the transaction correctly when you use the same source number, the original entry is cancelled

5 points

QUESTION 7

1. You will see the message there is no data to report when

   		there are no journal entries for the dates selected for the report
   		you sort the journal report by invoice number
   		you filter the journal report by invoice number
   		you choose to show corrections and there are no correcting entries

5 points

QUESTION 8

1. The session date appears as the default in a journal transaction window

   		for all journal transactions
   		each time you close the journal and then re-open it
   		only when you open the journal for the first time after you change the session date
   		after you post a previous journal transaction

5 points

QUESTION 9

1. Which one of the following is not included as an option for tax reports

   		report on PST
   		report sales transaction amounts
   		report purchase transaction amounts
   		all of the above can be included in tax reports

5 points

QUESTION 10

1. Using the Continue option for new customers instead of choosing one-time customer may be preferred because

   		continue adds the sale to the customer aged detail report
   		continue records the customers name in the journal entry
   		continue creates a partial customer record that you can complete later
   		all of the above

5 points

QUESTION 11

1. In the receipts journal, once we select the customer we are not required to enter

   		the payment amount
   		the original amount
   		the date of payment
   		we need to enter all the above details

5 points

QUESTION 12

1. Choosing the Modify Report option in a displayed report will

   		display the report options window again
   		close the report and return you to the home window so you can choose from the Reports menu again
   		allow you edit the settings in the displayed report
   		none of the above

5 points

QUESTION 13

1. To see the drill down reports that are available, you would

   		double click any number in a displayed report
   		double click any heading in a displayed report
   		hold the mouse over different parts of a displayed report
   		right-click any part of a displayed report to see a pull-down menu of available reports

5 points

QUESTION 14

1. When short dates such as 11-05-12 are used in Sage 50, to check whether month or day comes first you could

   		type Nov 5 12 in a date field in Sage 50
   		type 11-05 in a date field in Sage 50
   		choose Nov 5 from the date field calendar
   		do either a or c above

5 points

QUESTION 15

1. In the Receivables module window, you can add shortcuts

   		only for the general journal and payables journals
   		only for purchase invoices and payments
   		only for the general journal and the chart of accounts
   		for up to ten different journals or ledger functions

5 points

QUESTION 16

1. 1. Sorted and filtered reports differ in that

   		sorting organizes the report details and filtering selects the records included
   		sorting is a customizing option and filtering is a report option
   		different criteria are used for sorting and filtering
   		they are both methods of customizing reports

5 points

QUESTION 17

1. To reverse a sales invoice for selecting the wrong customer, you should

   		open the adjusting sales invoice window and choose the reverse entry tool
   		open the receipts journal and pay the invoice to cancel it
   		open the adjusting sales invoice window and edit the customer name (choose the correct customer)
   		make a general journal adjustment that reduces Accounts Receivable and the revenue accounts for the invoice amount

5 points

QUESTION 18

1. Linked accounts provide all but one of the following controls

   		amounts cannot be entered incorrectly
   		required linked accounts must be defined
   		the program automatically updates the corresponding general ledgers
   		there is no need to enter the information twice

5 points

QUESTION 19

1. Which of the following statement about the report centre is correct

   		all reports are available
   		you can bypass the modify report options screen
   		you can bypass the report sample and description screen
   		the last report you viewed is displayed as the default report

5 points

QUESTION 20

1. If you choose Quick Add to enter a sales invoice for a new customer

   		you can display the customers transactions in receivables aged detail reports
   		no ledger record is created for the new customer
   		you cannot choose pay later as the payment method for the sale
   		the customers ledger record will include all the details you added to the invoice