Sage 50.Than you

1. When you start a new company, you have a choice between starting from scratch and using a template. True False 2. A liability account is needed in the Chart of Accounts to record purchases made on a credit card. True False 3. Budgets can be set for every account in the Chart of Accounts. True False 4. When a user has not been granted full rights in the system, the Home window is changed to reflect these reduced rights. True False 5. A cheque for the release of vacation pay can be processed in a payroll cheque run. I True False 6. When introducing new types of income or deductions in payroll, it is important to consider any tax implications and set them up correctly in the system. True False 7. Outstanding entries from the last balanced reconciliation may be manually keyed into the bank reconciliation system. True False bodited