Which invoice layout in MYOB is most appropriate when recording inventory transactions?

Select one:

a. Item

b. Service

c. Miscellaneous

d. Professional

The Undeposited Funds Account in MYOB:

Select one:

a. Is cleared when the amounts receipted are actually banked

b. Is a temporary clearing account recording each individual cash receipt

c. Is used to assist with the reconciliation of the bank account

d. All of these options

When customer records are set up in MYOB to track accounts receivable, payments received from customers can be processed as:

Select one:

a. All of these options

b. a general journal entry in Accounts module

c. Receive Money in Banking module

d. Receive Payments in the Sales Module

A business has set up MYOB to use a perpetual inventory system. When a purchases of inventory on credit is processed the accounting result is:

Select one:

a. Dr Purchases, Dr GST Collected, Cr Accounts Payable

b. Dr Inventory, Dr GST Collected, Cr Accounts Payable

c. Dr Purchases, Dr GST Paid, Cr Accounts Payable

d. Dr Inventory, Dr GST Paid, Cr Accounts Payable

After navigating to the Purchases command centre and then selecting Pay Bills, MYOB allows users to record the following transactions:

Select one:

a. Cash receipts from suppliers

b. Purchases on credit

c. None of these options

d. Cash payments made to suppliers