Question 1

Which one of the following is the best order for entering setup information -

Accepted Answer

A) accounts,sales taxes and tax codes,suppliers and customers 
B) accounts,suppliers and customers,sales taxes and codes 
C) suppliers and customers,sales taxes and codes and accounts 
D) it does not matter which order you use to enter the above information 
A) accounts,sales taxes and tax codes,suppliers and customers 
B) accounts,suppliers and customers,sales taxes and codes 
C) suppliers and customers,sales taxes and codes and accounts 
D) it does not matter which order you use to enter the above information A

Question 2

Defining linked accounts correctly -

Accepted Answer

A) allows you to enter historical payments 
B) is an essential step for finishing the ledger history 
C) allows you to change the payment terms 
D) allows you to enter customer records 
A) allows you to enter historical payments 
B) is an essential step for finishing the ledger history 
C) allows you to change the payment terms 
D) allows you to enter customer records B

Question 3

The Credit Card setup information screen requires that -

Accepted Answer

A) you click the option to allow credit card sales and purchases 
B) the name of each credit card appears on a separate line 
C) you enter interest rate charged to the credit card company 
D) you enter the revenue account to record interest charges 
A) you click the option to allow credit card sales and purchases 
B) the name of each credit card appears on a separate line 
C) you enter interest rate charged to the credit card company 
D) you enter the revenue account to record interest charges B

Question 4

You will be unable to apply tax codes for sales when -

Accepted Answer

A) the customer is set up as tax exempt 
B) the default customer tax code is No tax 
C) a foreign customer has been selected for the sale 
D) you choose Quick Add for a new customer 
A) the customer is set up as tax exempt 
B) the default customer tax code is No tax 
C) a foreign customer has been selected for the sale 
D) you choose Quick Add for a new customer

Question 5

What step is not involved in setting up the payables ledger -

Accepted Answer

A) enter the payables and sales tax setting defaults 
B) enter the payables linked accounts 
C) enter the supplier payment terms and historical data 
D) all of the above are steps in setting up the payables ledger 
A) enter the payables and sales tax setting defaults 
B) enter the payables linked accounts 
C) enter the supplier payment terms and historical data 
D) all of the above are steps in setting up the payables ledger

Question 6

To finish the history when you are using only the General,Payables and Receivables modules you must view -

Accepted Answer

A) icons for the general,receivables and payables pages or modules 
B) icons for the company,banking,receivables and payables pages or modules 
C) icons for the company,receivables and payables pages or modules 
D) icons for all modules 
A) icons for the general,receivables and payables pages or modules 
B) icons for the company,banking,receivables and payables pages or modules 
C) icons for the company,receivables and payables pages or modules 
D) icons for all modules

Question 7

Which of the following statements about terms for historical customer invoices is correct -

Accepted Answer

A) they must be the same as the terms on the receivables ledger settings screen 
B) they must be the same as the terms in the customer's ledger record 
C) they can be changed for each individual invoice 
D) the terms do not apply to historical invoices,only current invoices 
A) they must be the same as the terms on the receivables ledger settings screen 
B) they must be the same as the terms in the customer's ledger record 
C) they can be changed for each individual invoice 
D) the terms do not apply to historical invoices,only current invoices

Question 8

What mistakes can you not correct after finishing history -

Accepted Answer

A) mistakes made in the general ledger account names 
B) mistakes made in the sales tax rate 
C) mistakes made in historical invoices 
D) you are able to make all of the above corrections 
A) mistakes made in the general ledger account names 
B) mistakes made in the sales tax rate 
C) mistakes made in historical invoices 
D) you are able to make all of the above corrections

Question 9

Where do you enter rates for sales taxes -

Accepted Answer

A) the payables ledger screen 
B) settings,sales taxes 
C) the historical suppliers screen 
D) none of the above 
A) the payables ledger screen 
B) settings,sales taxes 
C) the historical suppliers screen 
D) none of the above

Question 10

You will be unable to see HST tax codes for sales when -

Accepted Answer

A) the HST charged account is not linked 
B) the PST payable account is not linked 
C) the HST paid account is not linked 
D) all of the above are correct 
A) the HST charged account is not linked 
B) the PST payable account is not linked 
C) the HST paid account is not linked 
D) all of the above are correct

Question 11

If you want unbalanced General Ledger historical amounts to be assigned to an account automatically -

Accepted Answer

A) choose the automatic account you want to use when the message about unbalanced amounts appears 
B) choose the automatic account you want to use in the general ledger linked accounts settings screen 
C) choose to apply the balance to the Retained Earnings linked account in the general ledger linked accounts settings screen 
D) you cannot choose an automatic account for this purpose 
A) choose the automatic account you want to use when the message about unbalanced amounts appears 
B) choose the automatic account you want to use in the general ledger linked accounts settings screen 
C) choose to apply the balance to the Retained Earnings linked account in the general ledger linked accounts settings screen 
D) you cannot choose an automatic account for this purpose

Question 12

One of the following statements is true about credit cards -

Accepted Answer

A) set up cards used and accepted from the company settings 
B) set up cards used from the payables ledger settings 
C) set up cards accepted from the receivables ledger settings 
D) both b and c are correct 
A) set up cards used and accepted from the company settings 
B) set up cards used from the payables ledger settings 
C) set up cards accepted from the receivables ledger settings 
D) both b and c are correct

Question 13

Before you can select these accounts as linked accounts,the class options must be set correctly for -

Accepted Answer

A) bank class accounts 
B) inventory linked accounts 
C) income and expense accounts for financial reports 
D) all of the above 
A) bank class accounts 
B) inventory linked accounts 
C) income and expense accounts for financial reports 
D) all of the above

Question 14

When you record an incorrect receivables historical invoice -

Accepted Answer

A) delete the historical invoice and re-enter the historical invoice 
B) each historical invoice must be recorded separately 
C) pay the invoice,delete paid invoices and re-enter historical data 
D) click done to save the entry 
A) delete the historical invoice and re-enter the historical invoice 
B) each historical invoice must be recorded separately 
C) pay the invoice,delete paid invoices and re-enter historical data 
D) click done to save the entry

Question 15

To charge customers interest on overdue accounts,you need to -

Accepted Answer

A) enter the interest rate charges in the customer's ledger record and Sage 50 Accounting will automatically create an invoice for the interest charge when the account is overdue 
B) enter the interest rate charges as ledger settings,print statements and create the invoices for the interest amounts on the statements 
C) calculate the amount of interest owed and create an invoice for this amount 
D) print and send out customer statements and enter the receipts when the customers pay the interest charges 
A) enter the interest rate charges in the customer's ledger record and Sage 50 Accounting will automatically create an invoice for the interest charge when the account is overdue 
B) enter the interest rate charges as ledger settings,print statements and create the invoices for the interest amounts on the statements 
C) calculate the amount of interest owed and create an invoice for this amount 
D) print and send out customer statements and enter the receipts when the customers pay the interest charges

Question 16

The receivables ledger input screens will let you do all but one of the following -

Accepted Answer

A) enter e-mail and Web site addresses 
B) enter discount rates and amounts 
C) enter other options for address,taxes,memo 
D) post regular invoices 
A) enter e-mail and Web site addresses 
B) enter discount rates and amounts 
C) enter other options for address,taxes,memo 
D) post regular invoices

Question 17

Which one of the following statements about linked accounts is correct -

Accepted Answer

A) they show invoices paid and unpaid 
B) you are able to enter all linked accounts after finishing the history 
C) you are able to post a discounted sale if sales discount is not linked 
D) bank accounts may be linked more than once 
A) they show invoices paid and unpaid 
B) you are able to enter all linked accounts after finishing the history 
C) you are able to post a discounted sale if sales discount is not linked 
D) bank accounts may be linked more than once

Question 18

You cannot change terminology for -

Accepted Answer

A) the sales journal 
B) the customers icon 
C) the general journal 
D) you can change the terminology for any of the above 
A) the sales journal 
B) the customers icon 
C) the general journal 
D) you can change the terminology for any of the above

Question 19

If you record an incorrect payables historical invoice -

Accepted Answer

A) pay all invoices for the supplier,clear paid invoices and re-enter the historical data 
B) each historical invoice must be recorded separately 
C) delete the historical data and re-enter historical data 
D) delete the supplier record and begin again 
A) pay all invoices for the supplier,clear paid invoices and re-enter the historical data 
B) each historical invoice must be recorded separately 
C) delete the historical data and re-enter historical data 
D) delete the supplier record and begin again

Question 20

If a federal or provincial government changes the sales tax rate,you should -

Accepted Answer

A) create new tax codes for the tax at the new rate 
B) edit the existing tax codes by changing the tax status 
C) edit the existing tax codes by changing the tax rate 
D) edit the details for the tax on the Sales Tax,Taxes tab screen 
A) create new tax codes for the tax at the new rate 
B) edit the existing tax codes by changing the tax status 
C) edit the existing tax codes by changing the tax rate 
D) edit the details for the tax on the Sales Tax,Taxes tab screen

Which one of the following is the best order for entering setup information -

Defining linked accounts correctly -

The Credit Card setup information screen requires that -

You will be unable to apply tax codes for sales when -

What step is not involved in setting up the payables ledger -

To finish the history when you are using only the General,Payables and Receivables modules you must view -

Which of the following statements about terms for historical customer invoices is correct -

What mistakes can you not correct after finishing history -

Where do you enter rates for sales taxes -

You will be unable to see HST tax codes for sales when -

If you want unbalanced General Ledger historical amounts to be assigned to an account automatically -

One of the following statements is true about credit cards -

Before you can select these accounts as linked accounts,the class options must be set correctly for -

When you record an incorrect receivables historical invoice -

To charge customers interest on overdue accounts,you need to -

The receivables ledger input screens will let you do all but one of the following -

Which one of the following statements about linked accounts is correct -

You cannot change terminology for -

If you record an incorrect payables historical invoice -

If a federal or provincial government changes the sales tax rate,you should -

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GST,HST and PST

Muriels Murals

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Exam 7: Air Care Services

Which one of the following is the best order for entering setup information -

Defining linked accounts correctly -

The Credit Card setup information screen requires that -

You will be unable to apply tax codes for sales when -

What step is not involved in setting up the payables ledger -

To finish the history when you are using only the General,Payables and Receivables modules you must view -

Which of the following statements about terms for historical customer invoices is correct -

What mistakes can you not correct after finishing history -

Where do you enter rates for sales taxes -

You will be unable to see HST tax codes for sales when -

If you want unbalanced General Ledger historical amounts to be assigned to an account automatically -

One of the following statements is true about credit cards -

Before you can select these accounts as linked accounts,the class options must be set correctly for -

When you record an incorrect receivables historical invoice -

To charge customers interest on overdue accounts,you need to -

The receivables ledger input screens will let you do all but one of the following -

Which one of the following statements about linked accounts is correct -

You cannot change terminology for -

If you record an incorrect payables historical invoice -

If a federal or provincial government changes the sales tax rate,you should -

Getting Started

GST,HST and PST

Muriels Murals

Toss for Tots

Chai Tea Room

Phoebes Photo Studio

Helenas Academy

Lime Light Laundry

Flabuless Fitness

Andersson Chiropractic Clinic

Maple Leaf Rags

Truman Tires

Village Galleries

Tesses Tresses

Velocity

Ryders Routes Advanced Premium Features

Able Associates Advanced Premium Features

Filters