Question

The home window main menu bar contains such functions as –

Select one:

a. tool buttons, sizing buttons, open buttons, close buttons

b. recording general journal entries.

c. recording general ledger entries.

d. file, view, setup, business assistant, maintenance, reports, history, help

The date format used in a Sage 50 data file-

Select one:

a. applies to all Sage 50 data files

b. is set for the individual data file

c. cannot be changed after you set it up

d. is the same as in other Windows programs on your computer

GST/HST differs from other sales taxes in that-

Select one:

a. the same rate applies to all goods and services sold

b. all goods and services have GST/HST applied

c. it applies to all levels of sales

d. GST/HST is applied in the same way as other sales taxes

Sage 50 provides a complete audit trail by-

Select one:

a. recording original transactions in journal

b. posting the journal amounts into a ledger

c. numbering and referencing each transaction

d. all of the above statements are correct

In the account field of the general journal input screen you cannot –

Select one:

a. select the name from the select account list

b. type in the account number

c. type the account name in the account field

d. type in the first letter of the account name to advance to that section of the account list

When you adjust a posted general journal entry, you can-

Select one:

a. change the date

b. change the account number or the amount

c. enter additional account lines

d. change any of the above

When you create the Chart of Accounts in Sage 50 –

Select one:

a. subgroup accounts must be followed by a group total

b. group accounts and subgroup totals must be followed by a group total

c. group accounts must be followed by subgroup accounts

d. group headings will be added to the group accounts

Before closing the books for a fiscal period, you should print –

Select one:

a. reports that provide sufficient detail to create new company files if necessary

b. all of the management reports for the business

c. all the reports available through Sage 50 Accounting

d. all the reports in the financials section of the reports menu

Answer 1

1)

Option d - File, view, setup, business assistant, maintenance, reports, history, help

2)

Option d - Is the same as other windows programs on your computer

3)

Option b - All goods and services have GST/HST applied (unless otherwise exempted)

4)

Option d - all the given statements are correct

5)

Option c - Type the account name in the account field

6)

Option d - Chnage any of the above

7)

Option b - Group accounts and sub group totals must be followed by group totals

8)

Option a - Reports that provide sufficient details to create new company files if necessary