44. In the Receivables module window, you can add shortcuts --
A) only for the general journal and payables journals
B) only for purchase invoices and payments
C) only for the general journal and the chart of accounts
D) up to ten different journals or ledger functions
Give this one a try later!
D) up to ten different journals or ledger functions
32. I have been posting transactions for the last hour and I realized I have been
working in
the wrong company file. My last backup of all companies was yesterday. What should
I do:
A) Do a backup, close the current file and then open the correct file and re-do my
posting.
B) Resotre the most recent backup of the file I am working on, then open the correct
,file and re-do my posting.
C) Unplug the machine so the changes are not saved, then open the correct file and
redo my posting.
D) Close the company file, open the correct file and re-do my posting.
Give this one a try later!
B) Resotre the most recent backup of the file I am working on, then open
the correct
file and re-do my posting.
24. To record an NSF cheque from a customer you could -
A) choose the adjust a receipt tool, select the customer's receipt, change the amount
paid to zero and post
B) notify the customer and ask for a new cheque so no additional journal entry will be
needed
C) in the general journal, debit accounts receivable and credit the bank account for
the
cheque amount
D) choose the adjust a receipt tool, then enter a negative payment amount for the
customer in the receipts journal
Give this one a try later!
A) choose the adjust a receipt tool, select the customer's receipt, change
the amount
paid to zero and post
11. A sales journal entry will not balance if we -
A) omit the payment terms
B) omit the GST charged on sales
C) include a second sale item in the invoice
D) this entry will balance whether we omit or include any of the items listed here
, Give this one a try later!
D) this entry will balance whether we omit or include any of the items listed
here
21. To enter a NSF cheque -
A) reverse the receipt in the cash sales journal with a payment by cheque
B) enter a sales invoice for a negative amount
C) reverse the receipt in the receipts journal
D) debit accounts receivable and credit cash in the general journal
Give this one a try later!
C) reverse the receipt in the receipts journal
14. Linked accounts provide all but one of the following controls -
A) amounts cannot be entered incorrectly
B) required linked accounts must be defined
C) the program automatically updates the corresponding general ledgers
D) there is no need to enter the information twice
Give this one a try later!
A) amounts cannot be entered incorrectly
37. Discounts for early payments are offered to encourage customers to --
A) buy more goods and services
B) buy on account an pay later instead of paying at the time of the purchase
A) only for the general journal and payables journals
B) only for purchase invoices and payments
C) only for the general journal and the chart of accounts
D) up to ten different journals or ledger functions
Give this one a try later!
D) up to ten different journals or ledger functions
32. I have been posting transactions for the last hour and I realized I have been
working in
the wrong company file. My last backup of all companies was yesterday. What should
I do:
A) Do a backup, close the current file and then open the correct file and re-do my
posting.
B) Resotre the most recent backup of the file I am working on, then open the correct
,file and re-do my posting.
C) Unplug the machine so the changes are not saved, then open the correct file and
redo my posting.
D) Close the company file, open the correct file and re-do my posting.
Give this one a try later!
B) Resotre the most recent backup of the file I am working on, then open
the correct
file and re-do my posting.
24. To record an NSF cheque from a customer you could -
A) choose the adjust a receipt tool, select the customer's receipt, change the amount
paid to zero and post
B) notify the customer and ask for a new cheque so no additional journal entry will be
needed
C) in the general journal, debit accounts receivable and credit the bank account for
the
cheque amount
D) choose the adjust a receipt tool, then enter a negative payment amount for the
customer in the receipts journal
Give this one a try later!
A) choose the adjust a receipt tool, select the customer's receipt, change
the amount
paid to zero and post
11. A sales journal entry will not balance if we -
A) omit the payment terms
B) omit the GST charged on sales
C) include a second sale item in the invoice
D) this entry will balance whether we omit or include any of the items listed here
, Give this one a try later!
D) this entry will balance whether we omit or include any of the items listed
here
21. To enter a NSF cheque -
A) reverse the receipt in the cash sales journal with a payment by cheque
B) enter a sales invoice for a negative amount
C) reverse the receipt in the receipts journal
D) debit accounts receivable and credit cash in the general journal
Give this one a try later!
C) reverse the receipt in the receipts journal
14. Linked accounts provide all but one of the following controls -
A) amounts cannot be entered incorrectly
B) required linked accounts must be defined
C) the program automatically updates the corresponding general ledgers
D) there is no need to enter the information twice
Give this one a try later!
A) amounts cannot be entered incorrectly
37. Discounts for early payments are offered to encourage customers to --
A) buy more goods and services
B) buy on account an pay later instead of paying at the time of the purchase
