SAGE 50 FINAL REVIEW EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

SAGE 50 FINAL REVIEW EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ When first opening the Sage 50 program you will be asked to choose Correct Answer: select an existing company, create a new company, restore from backup The Sage 50 home window does not display Correct Answer: icons for individual accounts Which one of the following comments is not true of the Sage 50 program Correct Answer: the help menu may be removed or hidden When you restore a file from a backup, you must Correct Answer: press back to change any of your selections Home window tool icons in Sage 50 Correct Answer: are shortcuts for accessing features provided by some menu options Businesses must register for GST and apply GST to sales if 2 Correct Answer: they have annual sales over $30,000 Items that are not taxable for GST Correct Answer: are mostly basic necessities HST differs from GST in that Correct Answer: it has a different tax rate, it includes a portion for provincial sales tax Provincial sales taxesCorrect Answer: on purchases that are treated as business expenses GST/HST differs from other sales taxes in thatCorrect Answer: it applies at all levels of sales Sales taxes on goods and services in CanadaCorrect Answer: are charged at the rate applicable to the province of destination Sage 50 provides a complete audit trail by