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

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