Accounting 121 - Advanced Computerized Accounting » Summer 2021 » Final Sage 50

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Question #1
On the Navigation Bar, make the following selections to enter a customer payment:
A.   Customers & Sales Navigation Center, click on the Sales Invoices icon and select View and Edit Sales Invoices
B.   Vendors and Purchases Navigation Center, click on the Write Checks icon and select New Check
C.   Inventory & Service Navigation Center, click on the Write Checks icon and select View and Edit Checks
D.   Tasks; Payments
E.   Customers & Sales Navigation Center, click on the Receive Money icon and select Receive Money from Customer
Question #2
On the Navigation Bar, make the following selections to make a general journal entry:
A.   Inventory & Services Navigation Center > click on the Chart of Accounts icon > select View and Edit Accounts
B.   Maintain > select General Journal record
C.   Banking Navigation Center > click on the Write Checks icon > select New Check
D.   System Navigation Center > link to Restore a backup > click on the General Journal Entry icon
E.   Banking Navigation Center > link to General Journal Entry > select New General Journal Entry
Question #3
On the Navigation Bar, make the following selections to set up payroll default information:
A.   Employees & Payroll Navigation Center, click on the Pay Employees icon and select Set Up Payroll Service
B.   Maintain; Employees/Sales Rep
C.   Tasks; Payroll Entry
D.   Employees & Payroll Navigation Center, click on the Employees icon and select Set Up Employee Defaults
E.   Employees & Payroll Navigation Center, click on the Pay Employees icon and select Enter Payroll for Multiple Employees
Question #4
One way to display the balance sheet is to use these menu bar selections:
A.   Reports & Forms > Financial Statements > Inventory > Options.
B.   Business Status > Category field > Financial Statements > <Standard> Balance Sheet > Display.
C.   Reports & Forms > Financial Statements > Print.
D.   Business Status > Category field > Financial Statements > Financial Statements > Display.
E.   Tasks > select System > make the selections to print.
Question #5
Processing payroll is automatic once _____________________ are set up correctly.
A.   Manually recorded payroll deductions
B.   Defaults
C.   Employees/Sales rep tasks
D.   Payroll tables
E.   Tasks
Question #6
The balance sheet lists:
A.   Cash disbursements
B.   Assets, liabilities and capital of a business
C.   Revenues and expenses of a business
D.   The percentage of debt at the end of the year
E.   The percentage of revenue at the end of the year
Question #7
The income statement is a summary of:
A.   Cash payments and what they were used for
B.   The overall change in cash
C.   Revenues and expenses over a period of time
D.   Cost of goods purchased
E.   Cash receipts and where they came from
Question #8
The price of each inventory item is stored in the:
A.   Maintain Purchase Items file
B.   Tasks; Purchase orders
C.   Maintain Inventory Items file
D.   Tasks; Inventory items
E.   Maintain Vendors file
Question #9
To display the Job Profitability Report, make the following menu bar selections:
A.   Reports & Forms > Payroll > Jobs Profitability Report > Display
B.   Tasks > Inventory Adjustments
C.   Reports & Forms > Jobs > Job Lists > Preview
D.   Reports & Forms > Jobs > Job Profitability Report > Display
E.   Reports & Forms > Payroll Reports > Job Profitability Report > Preview
Question #10
In Sage 50 2016, you track inventory both from the purchasing and sales perspectives.
A.   TRUE
B.   FALSE
Question #11
Once journal entries are recorded and posted, Sage 50 automatically calculates financial statements.
A.   TRUE
B.   FALSE
Question #12
The Job Profitability Report shows the profit or loss for each job.
A.   TRUE
B.   FALSE
Question #13
The Quotes task allows you to enter inventory purchases.
A.   FALSE
B.   TRUE
Question #14
The Receive Money window is used when you are ready to ship items to customers.
A.   TRUE
B.   FALSE
Question #15
The Sales Order task allows you to enter items ordered by a customer and track backorders.
A.   TRUE
B.   FALSE

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