SAGE 50 - Ch 7 Questions | 100% Correct Answers | UpToDate Doc | Already Graded A+

1. Which of the following components make up the payables ledger setup - A) payables and sales tax setting defaults B) payables linked accounts C) set up vendor information and historical data D) all of the components listed here are necessary ☑: D) all of the components listed here are necessary 2. If the bank issues a new series of cheques with a different numbering sequence - A) we must change the payments settings to accommodate the "alpha" letter and the number B) we must change the cheque number in the ledger to match the new cheque numbers C) we must start the numbering system for forms all over again D) we must request that the bank prepare another order of cheques to match our numbers ☑: B) we must change the cheque number in the ledger to match the new cheque numbers 3. What mistakes can you not correct after finishing the history for the payables ledger - EXCELLENCE A) mistakes made in historical vendor invoices B) mistakes made in the vendor account names C) mistakes made in the vendor payment terms D) you can make all of the corrections listed here ☑: A) mistakes made in historical vendor invoices