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Question 24 1 points Save Answer The standard nominal ledger chart of accounts provided by the Sage computerised accounting software employs a four-digit numerical system
Question 24 1 points Save Answer The standard nominal ledger chart of accounts provided by the Sage computerised accounting software employs a four-digit numerical system (0010 to 9999). The codes are sub-analysed into account 'type' classifications for the construction of the business financial reports. Now examine the following statements about the standard Sage computerised accounting nominal ledger chart of accounts (coding system): i. Statement of financial position type accounts are within the range 4000 to 9999 and Income statement type accounts are within the range 0010 to 3200. The nominal ledger account names and code ranges can be edited (changed) by a system user. ii. Statement of financial position type accounts are within the range 0010 to 3200 and Income statement type accounts are within the range 4000 to 9999. The nominal ledger account names and code ranges can be edited (changed) by a system user. iii. Statement of financial position type accounts are within the range 0010 to 3200 and Income statement type accounts are within the range 4000 to 9999. The nominal ledger account names can be edited but the code ranges are factory set and cannot be changed by a system user. iv. Statement of financial position type accounts are within the range 4000 to 9999 and Income statement type accounts are within the range 0010 to 3200. The nominal ledger account names cannot be edited but the code ranges can be changed by a system user. Which of the above statements are true? a. ii only. Ob.i only. O c. ii and iii. O d. i and iv
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