Question 1

Freight expenses -

Accepted Answer

A)  cannot be allocated when they apply to purchases of assets if the asset accounts do not allow allocations 
B)  are allocated in the same proportion as the other accounts used in the purchase 
C)  are allocated separately from the other accounts used in the purchase 
D)  can never be allocated 
A)  cannot be allocated when they apply to purchases of assets if the asset accounts do not allow allocations 
B)  are allocated in the same proportion as the other accounts used in the purchase 
C)  are allocated separately from the other accounts used in the purchase 
D)  can never be allocated C

Question 2

Divisions may be set up by doing the following -

Accepted Answer

A)  choosing the method of allocation 
B)  creating new divisions and allowing allocations in account ledgers 
C)  creating new divisions 
D)  none of the above 
A)  choosing the method of allocation 
B)  creating new divisions and allowing allocations in account ledgers 
C)  creating new divisions 
D)  none of the above B

Question 3

Which of the following general statements about divisions is not true -

Accepted Answer

A)  there is no need to allocate if 100% of the amount is assigned to one division 
B)  division reports can be used for business planning 
C)  new divisions can be added at any time in the business 
D)  all of the above statements are true 
A)  there is no need to allocate if 100% of the amount is assigned to one division 
B)  division reports can be used for business planning 
C)  new divisions can be added at any time in the business 
D)  all of the above statements are true A

Question 4

The information provided from division allocations cannot be used for -

Accepted Answer

A)  preparing customer statements 
B)  making decisions about expanding the business 
C)  making decisions about eliminating parts of a business 
D)  making decisions to control costs more effectively 
A)  preparing customer statements 
B)  making decisions about expanding the business 
C)  making decisions about eliminating parts of a business 
D)  making decisions to control costs more effectively

Question 5

Which one of the following general statements about divisions is true -

Accepted Answer

A)  all division income reports will show the profits for the selected divisions 
B)  allocate revenues by double clicking the allocation column beside the amount 
C)  you may print journal reports with or without division allocations 
D)  all of the above 
A)  all division income reports will show the profits for the selected divisions 
B)  allocate revenues by double clicking the allocation column beside the amount 
C)  you may print journal reports with or without division allocations 
D)  all of the above

Question 6

To review the credit card details you entered after processing the sale, you would -

Accepted Answer

A)  post the sale and then look up the invoice 
B)  click the Review Credit Card Details button before posting the sale 
C)  click the Review Credit Card Details button after posting the sale 
D)  you cannot review the details after the sale has been processed 
A)  post the sale and then look up the invoice 
B)  click the Review Credit Card Details button before posting the sale 
C)  click the Review Credit Card Details button after posting the sale 
D)  you cannot review the details after the sale has been processed

Question 7

Allocating payroll amounts to different divisions involves -

Accepted Answer

A)  editing the payroll ledger settings to allow allocation 
B)  editing payroll journal amounts to show the allocation 
C)  posting the payroll journal entry to save it and then allocating amounts 
D)  none of the above 
A)  editing the payroll ledger settings to allow allocation 
B)  editing payroll journal amounts to show the allocation 
C)  posting the payroll journal entry to save it and then allocating amounts 
D)  none of the above

Question 8

Import duties -

Accepted Answer

A)  are charged at the same rate on all purchases 
B)  are always charged on purchases but the rates may vary 
C)  may or may not be charged on purchases 
D)  are never charged on purchases of inventory items that will be resold 
A)  are charged at the same rate on all purchases 
B)  are always charged on purchases but the rates may vary 
C)  may or may not be charged on purchases 
D)  are never charged on purchases of inventory items that will be resold

Question 9

You can change the name of the Division module -

Accepted Answer

A)  from the division settings, names screen 
B)  from the company settings, names screen 
C)  from the division settings, options screen 
D)  none of the above, you cannot change the name of the module 
A)  from the division settings, names screen 
B)  from the company settings, names screen 
C)  from the division settings, options screen 
D)  none of the above, you cannot change the name of the module

Question 10

When you turn on the warning for incomplete allocations, the program -

Accepted Answer

A)  reminds you to change the division ledger name before entering journal transactions 
B)  does not allow you to post an entry until the allocation is complete 
C)  warns if an amount is not completely allocated 
D)  warns if you forgot to allow allocations for an account 
A)  reminds you to change the division ledger name before entering journal transactions 
B)  does not allow you to post an entry until the allocation is complete 
C)  warns if an amount is not completely allocated 
D)  warns if you forgot to allow allocations for an account

Question 11

Division report options include -

Accepted Answer

A)  choosing any or all of the revenue and expense accounts 
B)  available drill-down report options 
C)  summary or detail formats 
D)  all of the above 
A)  choosing any or all of the revenue and expense accounts 
B)  available drill-down report options 
C)  summary or detail formats 
D)  all of the above

Question 12

A cost variance is caused by -

Accepted Answer

A)  a purchase order with the same price as the default 
B)  a new price that is different from the old price 
C)  the inventory level drops below zero 
D)  b and c above 
A)  a purchase order with the same price as the default 
B)  a new price that is different from the old price 
C)  the inventory level drops below zero 
D)  b and c above

Question 13

Use the following journal entry display to answer the next  questions

-The journal entry above shows that -

Accepted Answer

A)  the vacation pay is not allocated 
B)  the vacation pay is retained 
C)  the vacation pay has been paid 
D)  the vacation pay has not been calculated 
A)  the vacation pay is not allocated 
B)  the vacation pay is retained 
C)  the vacation pay has been paid 
D)  the vacation pay has not been calculated

Question 14

Changing the name of the Division module will not change -

Accepted Answer

A)  the way you allocate costs and revenues 
B)  the name of the reports in the reports menu 
C)  the label of the division icon in the home window 
D)  the labels in the division allocation windows 
A)  the way you allocate costs and revenues 
B)  the name of the reports in the reports menu 
C)  the label of the division icon in the home window 
D)  the labels in the division allocation windows

Question 15

Which of the following general statements about divisions is not correct -

Accepted Answer

A)  special journals and linked accounts are required for divisions 
B)  you may change allocation amounts at any time before posting 
C)  you may print journal reports with or without division allocations 
D)  if costs cannot be allocated accurately there is no reason to keep divisions 
A)  special journals and linked accounts are required for divisions 
B)  you may change allocation amounts at any time before posting 
C)  you may print journal reports with or without division allocations 
D)  if costs cannot be allocated accurately there is no reason to keep divisions

Question 16

Use the following journal entry display to answer the next  questions

-In the journal entry above -

Accepted Answer

A)  vacation payable shows no allocation because the entire amount is allocated to one division 
B)  the vacation pay amount had not been calculated 
C)  vacation payable is not allocated 
D)  each amount allocated uses different percentages for the allocation 
A)  vacation payable shows no allocation because the entire amount is allocated to one division 
B)  the vacation pay amount had not been calculated 
C)  vacation payable is not allocated 
D)  each amount allocated uses different percentages for the allocation

Question 17

When processing credit card sales automatically, one of the following is not needed -

Accepted Answer

A)  an Internet connection 
B)  the customer's name 
C)  the credit card expiry date 
D)  all of these are needed 
A)  an Internet connection 
B)  the customer's name 
C)  the credit card expiry date 
D)  all of these are needed

Question 18

The Allocate function may be unavailable when -

Accepted Answer

A)  the cursor is on a blank journal line 
B)  the account ledger does not allow allocations 
C)  the item assembly journal is open 
D)  all of the above 
A)  the cursor is on a blank journal line 
B)  the account ledger does not allow allocations 
C)  the item assembly journal is open 
D)  all of the above

Question 19

Import duties on purchases of inventory items -

Accepted Answer

A)  are automatically recorded as liabilities to the Receiver General for Canada once the duties are properly set up 
B)  require separate purchase and payment entries 
C)  are always charged on foreign inventory purchases 
D)  may be entered automatically from the rates in the inventory ledger 
A)  are automatically recorded as liabilities to the Receiver General for Canada once the duties are properly set up 
B)  require separate purchase and payment entries 
C)  are always charged on foreign inventory purchases 
D)  may be entered automatically from the rates in the inventory ledger

Question 20

Divisions require no special journals or linked accounts but will do the following -

Accepted Answer

A)  allocate only revenues 
B)  allocate only expenses 
C)  allocate revenues as well as expenses 
D)  allocate the total invoice amount for a purchase 
A)  allocate only revenues 
B)  allocate only expenses 
C)  allocate revenues as well as expenses 
D)  allocate the total invoice amount for a purchase

Freight expenses -

Divisions may be set up by doing the following -

Which of the following general statements about divisions is not true -

The information provided from division allocations cannot be used for -

Which one of the following general statements about divisions is true -

To review the credit card details you entered after processing the sale, you would -

Allocating payroll amounts to different divisions involves -

Import duties -

You can change the name of the Division module -

When you turn on the warning for incomplete allocations, the program -

Division report options include -

A cost variance is caused by -

Use the following journal entry display to answer the next questions -The journal entry above shows that -

Changing the name of the Division module will not change -

Which of the following general statements about divisions is not correct -

Use the following journal entry display to answer the next questions -In the journal entry above -

When processing credit card sales automatically, one of the following is not needed -

The Allocate function may be unavailable when -

Import duties on purchases of inventory items -

Divisions require no special journals or linked accounts but will do the following -

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Exam 13: Questions Shady Corners

Freight expenses -

Divisions may be set up by doing the following -

Which of the following general statements about divisions is not true -

The information provided from division allocations cannot be used for -

Which one of the following general statements about divisions is true -

To review the credit card details you entered after processing the sale, you would -

Allocating payroll amounts to different divisions involves -

Import duties -

You can change the name of the Division module -

When you turn on the warning for incomplete allocations, the program -

Division report options include -

A cost variance is caused by -

Use the following journal entry display to answer the next questions -The journal entry above shows that -

Changing the name of the Division module will not change -

Which of the following general statements about divisions is not correct -

Use the following journal entry display to answer the next questions -In the journal entry above -

When processing credit card sales automatically, one of the following is not needed -

The Allocate function may be unavailable when -

Import duties on purchases of inventory items -

Divisions require no special journals or linked accounts but will do the following -

Questions Getting Started

Questions Gst, Hst and Pst

Questions Binhs Bins

Questions Love It Again

Questions Groen Fields

Questions Phoebes Photo Studio

Questions Air Care Services

Questions Helenas Academy

Questions Northern Lights

Questions Karas Kitchens

Questions Andersson Chiropractic Clinic

Questions Maple Leaf Rags

Questions Sound Inc

Questions Tesses Tresses

Questions Velocity

Questions Ryders Routes Advanced Premium Features

Questions Able Associates Advanced Premium Features

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