Chapter 12 & 13 Sage Exam Questions and Answers 2024

Chapter 12 & 13 Sage Exam Questions and Answers 2024 Merchandising businesses purchase the merchandise they sell from suppliers known as: - Answer- Vendors A purchase return to a vendor is recorded on the Vendor Credit Memos window as follows: - Answer- Select Vendor > Invoice number > quantity returned. When paying vendors, minus a return of merchandise: - Answer- Click on the "Pay" box for the invoice as the purchase return is automatically calculated. If the "A/P Account" field and "GL Account" column are not shown, what Sage 50 menu- bar selection should you check? - Answer- Options > Global > uncheck Hide General Ledger Accounts. When setting up a new company in Sage 50, select five-digit Chart of Account numbers from the: - Answer- Detailed list. To start journal entries on January 1, 2019, select December 1-31, 2018 as the chart of accounts beginning balance period. - Answer- True Sage 50 uses the periodic inventory systems, which means inventory items are not updated until the end of the accounting period. - Answer- False Both the selling price and unit cost defaults are set up on the Maintain Inventory Items window. - Answer- True The form you select for printing checks is tied to the kind of printer you are using. Depending on your printer, you may need to make a different selection when printing forms. - Answer- True On the Purchase/Receive Inventory window, you can record one type of entry-vendor purchase invoices. - Answer- False