Question 1

Which one of the following general statements is incorrect -

Accepted Answer

A) journal reports may be accessed from either the home window or the suppliers windows 
B) new suppliers may be added from both the purchases and payments journals 
C) the message "there is no data to report" is found in the payments journal 
D) it is much easier to enter payments in the payments journal than the general journal 
A) journal reports may be accessed from either the home window or the suppliers windows 
B) new suppliers may be added from both the purchases and payments journals 
C) the message "there is no data to report" is found in the payments journal 
D) it is much easier to enter payments in the payments journal than the general journal C

Question 2

In the Search results window when adjusting an invoice,you can -

Accepted Answer

A) sort the search results by date 
B) reverse the order of the transactions listed 
C) sort the search results by invoice amount 
D) all of the above 
A) sort the search results by date 
B) reverse the order of the transactions listed 
C) sort the search results by invoice amount 
D) all of the above D

Question 3

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 A

Question 4

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

Question 5

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 6

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 7

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 8

Which one of the following statements about supplier options is incorrect -

Accepted Answer

A) an asset account may be selected as the default expense account 
B) print contact on cheques only if the field has an address or department 
C) only the no tax code is available if you choose No as the tax exempt option 
D) you can send e-mails to suppliers 
A) an asset account may be selected as the default expense account 
B) print contact on cheques only if the field has an address or department 
C) only the no tax code is available if you choose No as the tax exempt option 
D) you can send e-mails to suppliers

Question 9

When you post a supplier invoice the following accounts are updated -

Accepted Answer

A) all properly linked accounts 
B) only the purchases and accounts payable general ledgers 
C) only the purchases and accounts payable subsidiary ledgers 
D) only the purchases,accounts payable ledgers and HST paid 
A) all properly linked accounts 
B) only the purchases and accounts payable general ledgers 
C) only the purchases and accounts payable subsidiary ledgers 
D) only the purchases,accounts payable ledgers and HST paid

Question 10

The cheque log report -

Accepted Answer

A) can be displayed from the report centre financials reports 
B) can be displayed from the report centre payables reports 
C) shows whether cheques have been printed 
D) both a and c are correct 
A) can be displayed from the report centre financials reports 
B) can be displayed from the report centre payables reports 
C) shows whether cheques have been printed 
D) both a and c are correct

Question 11

To find an invoice you need to adjust from the Search window,you can might search for -

Accepted Answer

A) invoices from suppliers beginning with the letters A to D 
B) invoices for a range of dates 
C) invoices for a range of journal entry numbers 
D) invoices with invoice numbers beginning with A or B 
A) invoices from suppliers beginning with the letters A to D 
B) invoices for a range of dates 
C) invoices for a range of journal entry numbers 
D) invoices with invoice numbers beginning with A or B

Question 12

After choosing Continue for a new vendor in a supplier invoice -

Accepted Answer

A) you can choose to include this vendor in aged payables reports 
B) the aged payables detail report always includes this vendor's purchase 
C) you can choose pay later for the purchase 
D) the journal report will include the purchase details with one-time vendor as the vendor's name 
A) you can choose to include this vendor in aged payables reports 
B) the aged payables detail report always includes this vendor's purchase 
C) you can choose pay later for the purchase 
D) the journal report will include the purchase details with one-time vendor as the vendor's name

Question 13

To open the Payables Module window,you could -

Accepted Answer

A) choose open payables module from the home window file menu 
B) choose open payables module from the home window view menu 
C) make the payables module your default home page 
D) choose payables from the home window modules menu 
A) choose open payables module from the home window file menu 
B) choose open payables module from the home window view menu 
C) make the payables module your default home page 
D) choose payables from the home window modules menu

Question 14

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 15

Choosing the Suggested Accounts button in the select account list when in the purchases module will -

Accepted Answer

A) show only revenue accounts 
B) show only expense accounts 
C) show the single account that is most likely the one you need 
D) show revenue accounts when you start from the sales journal and expense accounts when you start from the purchases journal 
A) show only revenue accounts 
B) show only expense accounts 
C) show the single account that is most likely the one you need 
D) show revenue accounts when you start from the sales journal and expense accounts when you start from the purchases journal

Question 16

From the supplier aged summary report you can learn -

Accepted Answer

A) the unpaid balance for each invoice 
B) the total owing to each supplier 
C) the due date for each outstanding invoice 
D) which invoices are fully paid 
A) the unpaid balance for each invoice 
B) the total owing to each supplier 
C) the due date for each outstanding invoice 
D) which invoices are fully paid

Question 17

Transactions entered in the payments journal will not allow the following -

Accepted Answer

A) recording of all necessary details surrounding the payment 
B) editing the cheque number 
C) entering a payment amount that is more than the outstanding balance to create a credit balance 
D) editing the payment amount 
A) recording of all necessary details surrounding the payment 
B) editing the cheque number 
C) entering a payment amount that is more than the outstanding balance to create a credit balance 
D) editing the payment amount

Question 18

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 19

After choosing Continue 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 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

Which one of the following general statements is incorrect -

In the Search results window when adjusting an invoice,you can -

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

The Suppliers Aged report does not include -

A supplier invoice will not show -

A purchases journal entry will not balance if we -

The payments journal may be used for the following -

Which one of the following statements about supplier options is incorrect -

When you post a supplier invoice the following accounts are updated -

The cheque log report -

To find an invoice you need to adjust from the Search window,you can might search for -

After choosing Continue for a new vendor in a supplier invoice -

To open the Payables Module window,you could -

Drill-down reports -

Choosing the Suggested Accounts button in the select account list when in the purchases module will -

From the supplier aged summary report you can learn -

Transactions entered in the payments journal will not allow the following -

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

After choosing Continue for a new vendor in a supplier invoice -

The supplier aged detail report does not include -

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Exam 5: Groen Fields

Which one of the following general statements is incorrect -

In the Search results window when adjusting an invoice,you can -

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

The Suppliers Aged report does not include -

A supplier invoice will not show -

A purchases journal entry will not balance if we -

The payments journal may be used for the following -

Which one of the following statements about supplier options is incorrect -

When you post a supplier invoice the following accounts are updated -

The cheque log report -

To find an invoice you need to adjust from the Search window,you can might search for -

After choosing Continue for a new vendor in a supplier invoice -

To open the Payables Module window,you could -

Drill-down reports -

Choosing the Suggested Accounts button in the select account list when in the purchases module will -

From the supplier aged summary report you can learn -

Transactions entered in the payments journal will not allow the following -

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

After choosing Continue for a new vendor in a supplier invoice -

The supplier aged detail report does not include -

Getting Started

GST,hST and PST

Binhs Bins

Love It Again

Phoebes Photo Studio

Air Care Services

Helenas Academy

Northern Lights

Flabuless Fitness

Andersson Chiropractic Clinic

Maple Leaf Rags

Shady Corners

Sound Inc

Tesses Tresses

Velocity

Ryders Routes Advanced Premium Features

Able Associates Advanced Premium Features

Filters