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.   Inventory & Service Navigation Center, click on the Write Checks icon and select View and Edit Checks
C.   Customers & Sales Navigation Center, click on the Receive Money icon and select Receive Money from Customer
D.   Tasks; Payments
E.   Vendors and Purchases Navigation Center, click on the Write Checks icon and select New Check
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.   Maintain > select General Journal record
D.   Banking Navigation Center > link to General Journal Entry > select New General Journal Entry
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.   Maintain; Employees/Sales Rep
B.   Tasks; Payroll Entry
C.   Employees & Payroll Navigation Center, click on the Pay Employees icon and select Enter Payroll for Multiple Employees
D.   Employees & Payroll Navigation Center, click on the Pay Employees icon and select Set Up Payroll Service
E.   Employees & Payroll Navigation Center, click on the Employees icon and select Set Up Employee Defaults
Question #4
One way to display the balance sheet is to use these menu bar selections:
A.   Tasks > select System > make the selections to print.
B.   Reports & Forms > Financial Statements > Inventory > Options.
C.   Business Status > Category field > Financial Statements > Financial Statements > Display.
D.   Business Status > Category field > Financial Statements > <Standard> Balance Sheet > Display.
E.   Reports & Forms > Financial Statements > Print.
Question #5
Processing payroll is automatic once _____________________ are set up correctly.
A.   Defaults
B.   Employees/Sales rep tasks
C.   Tasks
D.   Payroll tables
E.   Manually recorded payroll deductions
Question #6
The balance sheet lists:
A.   Assets, liabilities and capital of a business
B.   The percentage of debt at the end of the year
C.   Revenues and expenses of a business
D.   Cash disbursements
E.   The percentage of revenue at the end of the year
Question #7
The income statement is a summary of:
A.   Cost of goods purchased
B.   The overall change in cash
C.   Revenues and expenses over a period of time
D.   Cash payments and what they were used for
E.   Cash receipts and where they came from
Question #8
The price of each inventory item is stored in the:
A.   Tasks; Inventory items
B.   Maintain Purchase Items file
C.   Maintain Inventory Items file
D.   Tasks; Purchase orders
E.   Maintain Vendors file
Question #9
To display the Job Profitability Report, make the following menu bar selections:
A.   Reports & Forms > Jobs > Job Profitability Report > Display
B.   Reports & Forms > Payroll > Jobs Profitability Report > Display
C.   Tasks > Inventory Adjustments
D.   Reports & Forms > Jobs > Job Lists > Preview
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.   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.   TRUE
B.   FALSE
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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