Question

8. If you correct a bill amount, what icon can you click in the Enter Bills form to update the amount due?
a. Save
b. Pay Bill
c. Recalculate
d. Clear Splits
9. When you make an entry using the Write Cheques form, what is the effect on the Chequing GL account?
a. The Chequing account is unchanged.
b. The Chequing account increases.
c. The Chequing account decreases.
d. The Chequing account is put into a suspended state until the cheque clears.

10. When the business purchases an item using a credit card, then returns what they purchased, what is the
correct form to use?
a. Credit Card Purchase/Charge
b. Credit Memo
c. Credit Card Refund/Credit
d. Bill Credit
11. If you issue an invoice right before the end of a sales tax reporting period, what is the correct period to
report the sales tax?
a. In the period when the customer pays.
b. In the period the invoice is due.
c. In the same period as the invoice.
d.In the next reporting period.

Answer 1

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8. If you correct a bill amount, what icon can you click in the Enter Bills form to update the amount due?

b. Pay Bill

9. When you make an entry using the Write Cheque form, what is the effect on the Checking GL account?

c. The Checking account decreases.

10. When the business purchases an item using a credit card, then returns what they purchased, what is the correct form to use?

b. Credit Memo

11. If you issue an invoice right before the end of a sales tax reporting period, what is the correct period to report the sales tax?

c. In the same period as the invoice.