Question 1

After starting a new fiscal period on June 1st,Net Income on the Balance Sheet for June 1st has a zero balance because -

Accepted Answer

A) the net income for May 31st has not been transferred 
B) the net income for May 31st has been transferred 
C) there has not been any income earned for June 1st 
D) closing entries are not required for June 1st 
A) the net income for May 31st has not been transferred 
B) the net income for May 31st has been transferred 
C) there has not been any income earned for June 1st 
D) closing entries are not required for June 1st C

Question 2

What does the non-finished symbol on ledgers indicate -

Accepted Answer

A) the ledger has a malfunction - get help before proceeding 
B) the history for the ledger is not finished 
C) you must remove it in order to get access to a journal 
D) to open the general journal icon,click on it 
A) the ledger has a malfunction - get help before proceeding 
B) the history for the ledger is not finished 
C) you must remove it in order to get access to a journal 
D) to open the general journal icon,click on it B

Question 3

When using only the General Ledger closing all other windows -

Accepted Answer

A) ensures that all accounts are properly set up 
B) is an option but is not required before finishing the history 
C) will remove the not-finished symbols for all ledgers 
D) is necessary before finishing the history for the general ledger 
A) ensures that all accounts are properly set up 
B) is an option but is not required before finishing the history 
C) will remove the not-finished symbols for all ledgers 
D) is necessary before finishing the history for the general ledger D

Question 4

How do the Earliest Transaction date and Session date differ -

Accepted Answer

A) no difference - both serve the same function 
B) the earliest transaction date records the entry 
C) the session date usually follows the earliest transaction date 
D) the session date records the entry 
A) no difference - both serve the same function 
B) the earliest transaction date records the entry 
C) the session date usually follows the earliest transaction date 
D) the session date records the entry

Question 5

When creating the Chart of Accounts it would be very important to -

Accepted Answer

A) leave spaces between account numbers in order to insert new accounts when required 
B) leave spaces between account numbers to allow the computer to function better 
C) leave spaces between account numbers for the reporting process 
D) spaces do not have to be left between account numbers 
A) leave spaces between account numbers in order to insert new accounts when required 
B) leave spaces between account numbers to allow the computer to function better 
C) leave spaces between account numbers for the reporting process 
D) spaces do not have to be left between account numbers

Question 6

Choose the true statement about group accounts and subgroup accounts -

Accepted Answer

A) the group account is selected when one account is the total for that name 
B) the subgroup selection is required when one account must stand alone 
C) the group accounts types are non- postable accounts 
D) the subgroup accounts are non-postable accounts 
A) the group account is selected when one account is the total for that name 
B) the subgroup selection is required when one account must stand alone 
C) the group accounts types are non- postable accounts 
D) the subgroup accounts are non-postable accounts

Question 7

When changing the system settings what part of the main menu must you select -

Accepted Answer

A) edit 
B) setup 
C) maintenance 
D) none of the above 
A) edit 
B) setup 
C) maintenance 
D) none of the above

Question 8

To change an account type from group to subgroup you should -

Accepted Answer

A) delete the account and re-enter it with the correct type 
B) change the account opening balance to zero and then change the type 
C) select the account in the general ledger accounts window and edit the type 
D) none of the above 
A) delete the account and re-enter it with the correct type 
B) change the account opening balance to zero and then change the type 
C) select the account in the general ledger accounts window and edit the type 
D) none of the above

Question 9

If the new fiscal start date after starting a new fiscal period is July 1,2019,the new fiscal end date will be -

Accepted Answer

A) December 31,2019 
B) June 30,2020 
C) July 1,2020 
D) July 31,2020 
A) December 31,2019 
B) June 30,2020 
C) July 1,2020 
D) July 31,2020

Question 10

One of the following statements is true about the sample from a Balance Sheet shown here$$\begin{array} { l c r } 
\text { Bank A } & 100 & \
\text { Bank B } & \underline { 200 } & \
\text { Cash: Net } & & 300 \
\text { Accounts Rec } & 400 & \
\text { Advances Rec } & \underline { 500 } & \
\text { Receivables: Net } & & 900 \
\text { Prepaid Expenses } & \underline { 300 } \
\text { TOTAL CURRENT ASSETS } & 1500
\end{array}$$

Accepted Answer

A) that Bank A and Bank B are group accounts 
B) that Accounts Rec and Advances Rec are subgroup accounts 
C) that Cash: Net and Receivables: Net are total accounts 
D) that Prepaid Expenses is a group total account 
A) that Bank A and Bank B are group accounts 
B) that Accounts Rec and Advances Rec are subgroup accounts 
C) that Cash: Net and Receivables: Net are total accounts 
D) that Prepaid Expenses is a group total account

Question 11

What types of errors would the program not detect when you finish entering the history -

Accepted Answer

A) a ledger is balanced,but individual accounts have incorrect amounts 
B) incorrectly assigned group account types 
C) subgroup accounts not followed by a subgroup total 
D) essential linked accounts are not defined 
A) a ledger is balanced,but individual accounts have incorrect amounts 
B) incorrectly assigned group account types 
C) subgroup accounts not followed by a subgroup total 
D) essential linked accounts are not defined

Question 12

Which one of the following comments is true of the Sage 50 Accounting program -

Accepted Answer

A) the home window modules may be removed or hidden 
B) the automatic advice may be removed or hidden 
C) the daily business manager lists may be removed or hidden 
D) all of the above are true 
A) the home window modules may be removed or hidden 
B) the automatic advice may be removed or hidden 
C) the daily business manager lists may be removed or hidden 
D) all of the above are true

Question 13

Which statement about editing accounts is true -

Accepted Answer

A) you may change group accounts to subgroup accounts without a following subgroup total account 
B) you may change subgroups accounts to group accounts 
C) you cannot change group accounts to subgroup accounts 
D) you cannot change account types 
A) you may change group accounts to subgroup accounts without a following subgroup total account 
B) you may change subgroups accounts to group accounts 
C) you cannot change group accounts to subgroup accounts 
D) you cannot change account types

Question 14

Before closing the books for a fiscal period,you should print -

Accepted Answer

A) reports that provide sufficient detail to create new company files if necessary 
B) all the reports available through Sage 50 Accounting 
C) all the reports in the financials section of the reports menu 
D) all of the management reports for the business 
A) reports that provide sufficient detail to create new company files if necessary 
B) all the reports available through Sage 50 Accounting 
C) all the reports in the financials section of the reports menu 
D) all of the management reports for the business

Question 15

Adding non-postable accounts to your Chart of Accounts -

Accepted Answer

A) allows you to separate your postable accounts 
B) will allow you to classify your accounts with formal accounting headings 
C) will allow you to balance your chart of accounts 
D) non-postable accounts are not required 
A) allows you to separate your postable accounts 
B) will allow you to classify your accounts with formal accounting headings 
C) will allow you to balance your chart of accounts 
D) non-postable accounts are not required

Question 16

If the fiscal start is Jan.1,the fiscal end is Dec.31,the earliest transaction date is Jul.1 and both the latest transaction and the session dates are Jul.31,you will be unable to enter transactions dated before -

Accepted Answer

A) Jan.1 
B) Jul.1 
C) Jul.31 
D) Dec.31 
A) Jan.1 
B) Jul.1 
C) Jul.31 
D) Dec.31

Question 17

The Setup date field drop-down list for session date windows shows -

Accepted Answer

A) the session date and the current transaction date 
B) the fiscal start and end dates 
C) the earliest transaction date,end of fiscal period and the start of the next fiscal period 
D) all of the above 
A) the session date and the current transaction date 
B) the fiscal start and end dates 
C) the earliest transaction date,end of fiscal period and the start of the next fiscal period 
D) all of the above

Question 18

When accounts are not in logical order -

Accepted Answer

A) you will be unable to display some reports 
B) you can finish the history but you cannot complete journal entries 
C) your subtotal accounts may be following the subgroup accounts instead of the group accounts 
D) the total of debit and credit amounts in the Trial Balance may be unequal 
A) you will be unable to display some reports 
B) you can finish the history but you cannot complete journal entries 
C) your subtotal accounts may be following the subgroup accounts instead of the group accounts 
D) the total of debit and credit amounts in the Trial Balance may be unequal

Question 19

Which one of the following methods will not allow you to open a new ledger account -

Accepted Answer

A) open the chart of accounts icon and proceed to the file menu 
B) open new accounts when finishing the history for the ledger 
C) select create another while still in the general ledger 
D) select the create tool in any ledger window 
A) open the chart of accounts icon and proceed to the file menu 
B) open new accounts when finishing the history for the ledger 
C) select create another while still in the general ledger 
D) select the create tool in any ledger window

Question 20

The terminology for icons in module windows -

Accepted Answer

A) is the same for all types of industry 
B) cannot be changed 
C) may change when you select a different industry type 
D) always changes when you select a different industry type 
A) is the same for all types of industry 
B) cannot be changed 
C) may change when you select a different industry type 
D) always changes when you select a different industry type

After starting a new fiscal period on June 1st,Net Income on the Balance Sheet for June 1^st has a zero balance because -

What does the non-finished symbol on ledgers indicate -

When using only the General Ledger closing all other windows -

How do the Earliest Transaction date and Session date differ -

When creating the Chart of Accounts it would be very important to -

Choose the true statement about group accounts and subgroup accounts -

When changing the system settings what part of the main menu must you select -

To change an account type from group to subgroup you should -

If the new fiscal start date after starting a new fiscal period is July 1,2019,the new fiscal end date will be -

One of the following statements is true about the sample from a Balance Sheet shown here Bank A 100 Bank B Cash: Net 300 Accounts Rec 400 Advances Rec Receivables: Net 900 Prepaid Expenses TOTAL CURRENT ASSETS 1500

What types of errors would the program not detect when you finish entering the history -

Which one of the following comments is true of the Sage 50 Accounting program -

Which statement about editing accounts is true -

Before closing the books for a fiscal period,you should print -

Adding non-postable accounts to your Chart of Accounts -

If the fiscal start is Jan.1,the fiscal end is Dec.31,the earliest transaction date is Jul.1 and both the latest transaction and the session dates are Jul.31,you will be unable to enter transactions dated before -

The Setup date field drop-down list for session date windows shows -

When accounts are not in logical order -

Which one of the following methods will not allow you to open a new ledger account -

The terminology for icons in module windows -

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After starting a new fiscal period on June 1st,Net Income on the Balance Sheet for June 1st has a zero balance because -

What does the non-finished symbol on ledgers indicate -

When using only the General Ledger closing all other windows -

How do the Earliest Transaction date and Session date differ -

When creating the Chart of Accounts it would be very important to -

Choose the true statement about group accounts and subgroup accounts -

When changing the system settings what part of the main menu must you select -

To change an account type from group to subgroup you should -

If the new fiscal start date after starting a new fiscal period is July 1,2019,the new fiscal end date will be -

One of the following statements is true about the sample from a Balance Sheet shown here Bank A 100 Bank B Cash: Net 300 Accounts Rec 400 Advances Rec Receivables: Net 900 Prepaid Expenses TOTAL CURRENT ASSETS 1500

What types of errors would the program not detect when you finish entering the history -

Which one of the following comments is true of the Sage 50 Accounting program -

Which statement about editing accounts is true -

Before closing the books for a fiscal period,you should print -

Adding non-postable accounts to your Chart of Accounts -

If the fiscal start is Jan.1,the fiscal end is Dec.31,the earliest transaction date is Jul.1 and both the latest transaction and the session dates are Jul.31,you will be unable to enter transactions dated before -

The Setup date field drop-down list for session date windows shows -

When accounts are not in logical order -

Which one of the following methods will not allow you to open a new ledger account -

The terminology for icons in module windows -

Getting Started

GST,hST and PST

Binhs Bins

Groen Fields

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

After starting a new fiscal period on June 1st,Net Income on the Balance Sheet for June 1^st has a zero balance because -