Sage 1 Exam Questions and Answers 100% Pass

Sage 1 Exam Questions and Answers 100% Pass Which option is presented on the sage 50 accounting welcome and select screen? - Answer- *Open a sample company *Create a new company *Select an existing company The "save as" function will... - Answer- make a copy, close the original file and keep the new file open How much will the remittance to the Receiver General be? IF a province has a 13% HST and GST is 5%, a company has the following account balances HST collected on sales $1300 HST paid on purchases $1100 - Answer- $200 When using the new account wizard to create a General ledger account, which of the following are you NOT able to do? - Answer- Enter an opening balance for the account. When moving the mouse pointer over a report and it changes to an icon looking like a magnifying glass with a plus sign inside it, you can... - Answer- See the available "drill down reports" Accounts that can be deleted and accounts with a negative balance are examples of what type of reports? - Answer- Management reports Account types for GST Charges on Sales, GST Paid on Purchases and GST owing(refund) should be... - Answer- Account types A,A,S for the above order. When changing the default settings to reflect company information, such as name and address, fiscal dates, screen display preferences and Chart of Accounts, what menu must you select? - Answer- Setup After you have finished entering historical data, you will not be able to... - Answer- add opening account balances What is the default transaction type in the Payments Journal? - Answer- Pay Invoices The HST on purchases is recorded in... - Answer- the HST paid on purchases account entered as a debit amount. Recurring transactions can be stored with a number of different frequencies. Which of the following is NOT one of them? - Answer- Bi-daily True or False