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

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