Question 1

All Payables modules reports can be accessed from

Accepted Answer

A)  the payables section of the report centre 
B)  the reports menu in the home window 
C)  the reports menu in the suppliers window 
D)  the report menu in the purchase or payments journal window 
A)  the payables section of the report centre 
B)  the reports menu in the home window 
C)  the reports menu in the suppliers window 
D)  the report menu in the purchase or payments journal window A

Question 2

The Suppliers Aged report does not include -

Accepted Answer

A)  cash purchases entered in the purchases journal when cheque was the method of payment 
B)  cash purchases entered with the make other payment option 
C)  the original incorrect payment entry for transactions that were adjusted after posting 
D)  the report includes all of the above 
A)  cash purchases entered in the purchases journal when cheque was the method of payment 
B)  cash purchases entered with the make other payment option 
C)  the original incorrect payment entry for transactions that were adjusted after posting 
D)  the report includes all of the above B

Question 3

Why might the discount field be blank when entering a payment -

Accepted Answer

A)  a discount is not set up 
B)  the discount has expired 
C)  a discount is not required 
D)  all of the above 
A)  a discount is not set up 
B)  the discount has expired 
C)  a discount is not required 
D)  all of the above D

Question 4

Choosing Quick Add when you enter a purchase for a new supplier -

Accepted Answer

A)  creates a record for the supplier so you can add details later 
B)  opens the ledger window so you can enter all the supplier details you need 
C)  adds the supplier's name to the journal entry 
D)  is required to continue recording the purchase details 
A)  creates a record for the supplier so you can add details later 
B)  opens the ledger window so you can enter all the supplier details you need 
C)  adds the supplier's name to the journal entry 
D)  is required to continue recording the purchase details

Question 5

After choosing Quick Add for a new vendor in a supplier invoice -

Accepted Answer

A)  you can open the vendor's ledger record to add the remaining vendor details 
B)  there is no ledger record for the new vendor 
C)  you will be unable to edit the vendor payment terms for later purchases 
D)  the ledger record already contains all details you added to the purchase invoice 
A)  you can open the vendor's ledger record to add the remaining vendor details 
B)  there is no ledger record for the new vendor 
C)  you will be unable to edit the vendor payment terms for later purchases 
D)  the ledger record already contains all details you added to the purchase invoice

Question 6

To change a stored/recurring transaction -

Accepted Answer

A)  remove the stored entry and then re-enter and store the changed transaction 
B)  recall the stored entry, edit it and then store it again 
C)  recall the stored entry, edit it and post it 
D)  you cannot change an entry that is stored 
A)  remove the stored entry and then re-enter and store the changed transaction 
B)  recall the stored entry, edit it and then store it again 
C)  recall the stored entry, edit it and post it 
D)  you cannot change an entry that is stored

Question 7

A purchases journal entry will not balance if we -

Accepted Answer

A)  omit one of two items that were purchased 
B)  omit the HST paid 
C)  omit the freight charge 
D)  this entry will balance whether or not we omit any of the above items 
A)  omit one of two items that were purchased 
B)  omit the HST paid 
C)  omit the freight charge 
D)  this entry will balance whether or not we omit any of the above items

Question 8

You should choose the option to Print Contact on Cheques -

Accepted Answer

A)  for all vendors 
B)  when the contact field contains address details 
C)  when the person named in the contact field is the business owner 
D)  when the person named in the contact field is the treasurer for the business 
A)  for all vendors 
B)  when the contact field contains address details 
C)  when the person named in the contact field is the business owner 
D)  when the person named in the contact field is the treasurer for the business

Question 9

To create a shortcut for the general journal, you would -

Accepted Answer

A)  open the journal and choose the make shortcut tool 
B)  choose make shortcuts from the home window view menu in the enhanced view 
C)  choose the customize tool in any journal window 
D)  choose customize in the module window shortcuts pane 
A)  open the journal and choose the make shortcut tool 
B)  choose make shortcuts from the home window view menu in the enhanced view 
C)  choose the customize tool in any journal window 
D)  choose customize in the module window shortcuts pane

Question 10

A supplier invoice will not show -

Accepted Answer

A)  the description and prices for two items purchased on account 
B)  the HST code H (HST @ 13% tax not included in price) 
C)  the HST rate is incorrect 
D)  the asset purchases have been charged to the appropriate accounts 
A)  the description and prices for two items purchased on account 
B)  the HST code H (HST @ 13% tax not included in price) 
C)  the HST rate is incorrect 
D)  the asset purchases have been charged to the appropriate accounts

Question 11

For which of the following purchase invoice errors would you reverse the entire entry -

Accepted Answer

A)  entering the wrong date for the invoice 
B)  entering the wrong supplier for an invoice 
C)  entering incorrect payment terms for the invoice 
D)  entering an incorrect account for the invoice 
A)  entering the wrong date for the invoice 
B)  entering the wrong supplier for an invoice 
C)  entering incorrect payment terms for the invoice 
D)  entering an incorrect account for the invoice

Question 12

Which of the following statements about the default linked expense account for a supplier is incorrect

Accepted Answer

A)  you can select an asset account as the linked account 
B)  the default account may be changed in the purchases journal 
C)  you must select an expense account as the linked account 
D)  the linked account is entered on the supplier's option tab input screen 
A)  you can select an asset account as the linked account 
B)  the default account may be changed in the purchases journal 
C)  you must select an expense account as the linked account 
D)  the linked account is entered on the supplier's option tab input screen

Question 13

Which one of the following statements about Payables reports is correct -

Accepted Answer

A)  you may print a supplier aged report - detail 
B)  you may print a supplier aged report - summary 
C)  you may select all or individual suppliers 
D)  all of the above 
A)  you may print a supplier aged report - detail 
B)  you may print a supplier aged report - summary 
C)  you may select all or individual suppliers 
D)  all of the above

Question 14

Which role does a properly linked account not perform for a supplier invoice -

Accepted Answer

A)  allows all subsidiary ledgers to be updated with one amount 
B)  allows HST to be recorded 
C)  allows freight expense to be recorded 
D)  allows purchase discounts to be recorded 
A)  allows all subsidiary ledgers to be updated with one amount 
B)  allows HST to be recorded 
C)  allows freight expense to be recorded 
D)  allows purchase discounts to be recorded

Question 15

The payables ledger input screens will not let you enter -

Accepted Answer

A)  e-mail and Web site information 
B)  discount terms 
C)  Accounts Payable control account 
D)  current supplier invoices 
A)  e-mail and Web site information 
B)  discount terms 
C)  Accounts Payable control account 
D)  current supplier invoices

Question 16

Which of the following statements about adding new suppliers in the purchases journal is correct -

Accepted Answer

A)  choosing Quick Add opens a ledger record form for the new supplier 
B)  choosing the Add link above the supplier field opens a ledger record form for the new supplier 
C)  choosing Continue creates a partial ledger record for the new supplier 
D)  all of the above are correct 
A)  choosing Quick Add opens a ledger record form for the new supplier 
B)  choosing the Add link above the supplier field opens a ledger record form for the new supplier 
C)  choosing Continue creates a partial ledger record for the new supplier 
D)  all of the above are correct

Question 17

To access the general journal when you are working in the Payables module window -

Accepted Answer

A)  create a shortcut for the general journal 
B)  open the company module window 
C)  change to the classic view to access the journal 
D)  all of the above 
A)  create a shortcut for the general journal 
B)  open the company module window 
C)  change to the classic view to access the journal 
D)  all of the above

Question 18

Drill-down reports -

Accepted Answer

A)  are available from both purchases and payments journal reports 
B)  allow access to detail reports 
C)  allow viewing of invoices 
D)  all of the above 
A)  are available from both purchases and payments journal reports 
B)  allow access to detail reports 
C)  allow viewing of invoices 
D)  all of the above

Question 19

The payments journal may be used for the following -

Accepted Answer

A)  full cash payment to suppliers 
B)  partial cash payment to suppliers 
C)  purchase transactions paid by cheque 
D)  all of the above 
A)  full cash payment to suppliers 
B)  partial cash payment to suppliers 
C)  purchase transactions paid by cheque 
D)  all of the above

Question 20

The supplier aged detail report does not include -

Accepted Answer

A)  the payment terms for each invoice 
B)  invoices and payments for one-time suppliers 
C)  a separate entry for each invoice and payment 
D)  invoices and payments for suppliers added with the quick add option 
A)  the payment terms for each invoice 
B)  invoices and payments for one-time suppliers 
C)  a separate entry for each invoice and payment 
D)  invoices and payments for suppliers added with the quick add option

All Payables modules reports can be accessed from

The Suppliers Aged report does not include -

Why might the discount field be blank when entering a payment -

Choosing Quick Add when you enter a purchase for a new supplier -

After choosing Quick Add for a new vendor in a supplier invoice -

To change a stored/recurring transaction -

A purchases journal entry will not balance if we -

You should choose the option to Print Contact on Cheques -

To create a shortcut for the general journal, you would -

A supplier invoice will not show -

For which of the following purchase invoice errors would you reverse the entire entry -

Which of the following statements about the default linked expense account for a supplier is incorrect

Which one of the following statements about Payables reports is correct -

Which role does a properly linked account not perform for a supplier invoice -

The payables ledger input screens will not let you enter -

Which of the following statements about adding new suppliers in the purchases journal is correct -

To access the general journal when you are working in the Payables module window -

Drill-down reports -

The payments journal may be used for the following -

The supplier aged detail report does not include -

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Exam 5: Questions Groen Fields

All Payables modules reports can be accessed from

The Suppliers Aged report does not include -

Why might the discount field be blank when entering a payment -

Choosing Quick Add when you enter a purchase for a new supplier -

After choosing Quick Add for a new vendor in a supplier invoice -

To change a stored/recurring transaction -

A purchases journal entry will not balance if we -

You should choose the option to Print Contact on Cheques -

To create a shortcut for the general journal, you would -

A supplier invoice will not show -

For which of the following purchase invoice errors would you reverse the entire entry -

Which of the following statements about the default linked expense account for a supplier is incorrect

Which one of the following statements about Payables reports is correct -

Which role does a properly linked account not perform for a supplier invoice -

The payables ledger input screens will not let you enter -

Which of the following statements about adding new suppliers in the purchases journal is correct -

To access the general journal when you are working in the Payables module window -

Drill-down reports -

The payments journal may be used for the following -

The supplier aged detail report does not include -

Questions Getting Started

Questions Gst, Hst and Pst

Questions Binhs Bins

Questions Love It Again

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 Shady Corners

Questions Sound Inc

Questions Tesses Tresses

Questions Velocity

Questions Ryders Routes Advanced Premium Features

Questions Able Associates Advanced Premium Features

Filters