Deck 18: Questions Ryders Routes Advanced Premium Features

Question 1

Linked bank accounts for foreign currencies are added from -

A) the foreign bank column on the currencies setup screen
B) the ledger record for the foreign bank account
C) the bank account column on the payables and receivables linked accounts screens
D) the linked bank accounts screen

Answer 1

the bank account column on the payables and receivables linked accounts screens

Question 2

When time and billing is set up for a service activity -

A) the pricing tab details are not used
B) prices are taken from the pricing tab screen and applied to the time-based rates or flat fee
C) all regular price and preferred price customers pay the same prices
D) customers are not charged HST on the activity, only GST is charged

Answer 2

prices are taken from the pricing tab screen and applied to the time-based rates or flat fee

Question 3

The time slips journal tracks -

A) the number of hours an employee worked at an activity
B) the customers who purchased the services
C) the activities that were completed
D) all of the above

Answer 3

all of the above

Question 4

To set up additional foreign currencies, you must -

A) follow exactly the same procedures as for setting up the first foreign currency
B) choose currencies from the list and add a linked exchange rate and bank account for each one
C) choose the currencies from a list
D) identify the customers and suppliers who use the currencies

Question 5

Separate time slip journal entries should be completed for -

A) each customer
B) each employee
C) each activity
D) all of the above

Question 6

The components used for building from the bill of materials in the journal differ from the components used for an item assembly as to -

A) item assembly components are identified in the ledger
B) components for building from bill of materials are identified in the journal
C) components for both item assembly and building from bill of materials are identified in the journal
D) components for building from bill of materials are identified in the ledger

Question 7

Before you can enter time slips journal information, you must -

A) identify the employee in the employee ledger who will complete the activities
B) identify the inventory services that are billed on the basis of time
C) identify the suppliers in the supplier ledger records who will provide the time and billing services
D) identify the customers in customer ledger records who will use the time and billing services

Question 8

Time and billing details may be added -

A) for any service identified as an activity
B) to any inventory item or service
C) to any inventory service
D) from the inventory services item screen

Question 9

When multiple foreign currencies are used by a business, inventory prices -

A) must be based on the exchange rates for the currencies
B) must be entered in the ledger record for each item for each currency
C) cannot be taken from the ledger record for preferred price list customers who pay reduced prices
D) may be taken from the ledger record for one currency or item and based on exchange rates for others

Question 10

In the inventory services ledger record time and billing screen, you can identify -

A) the employee who will complete the activity marked for time and billing
B) a flat rate price for the service
C) the customer for whom the work is completed
D) whether the service is taxable for PST

Question 11

Which one of the following statements about linked accounts to track exchange rate differences is correct -

A) one account is used for all currencies
B) one account is needed for each currency
C) the account may be added later when exchange rates change
D) the linked account is not needed

Question 12

Time and billing reports may be organized by -

A) activity, employee and inventory item
B) employee and inventory item
C) customer and activity
D) all of the above

Question 13

To add time slips information to a sales invoice -

A) choose the employee and then choose add time slips
B) choose the activity and then choose add time slips
C) choose the inventory service item and then choose add time slips
D) choose the customer and then choose add time slips

Question 14

One of the following steps is required for building an item from the bill of materials in the journal -

A) set up costs for all components in the ledger
B) set up the number of items to be built in the ledger
C) set up the build quantity and the components for this number of items in the ledger
D) set up the costs and the components in the journal

Question 15

Which one of the following statements describes how employees are entered in time and billing -

A) they are selected in the sales journal after selecting the customer
B) they are selected in the time slips journal after choosing the activities
C) they are selected in the time slips journal before selecting a customer or activity
D) they are selected in the sales journal after selecting to add time slips

Question 16

Building an item from the bill of materials in the journal differs from an item assembly as to -

A) building from bill of materials does not identify the individual components in the journal
B) building from bill of materials does not identify the item to be built in the journal
C) building from bill of materials requires you to identify the individual component items in the journal
D) the bill of materials journal identifies the cost of each component

Question 17

Which one of the following statements is correct about prices for inventory service activities that are set up for time and billing -

A) activities may be charged at a flat fee or on the basis of time
B) prices are based on the unit prices on the pricing tab screen if the service is non-billable
C) prices are based on time for regular customers and on a flat fee for preferred price customers
D) prices must be based on a unit of time if the activity is billable

Question 18

Before you can enter time slips journal information, you must -

A) identify the inventory services as activities and enter the billing details for them
B) change the hourly wage rate for employees to match the rate charged for the activities
C) identify the preferred price list customers who will use the time and billing services
D) all of the above

Question 19

To build an item from a bill of materials in the inventory ledger, you must -

A) identify the costs for each component used to build the item
B) create the item to be built in the inventory ledger and identify its components
C) identify the components used to build the item in the component ledger records
D) identify the inventory components used in the journal

Question 20

When you add time slip activities to a sales journal invoice -

A) you can choose to add activities for a specific range of dates
B) you can choose to add activities for specific employees
C) you can choose to add specific activities
D) you can choose to add specific activities for specific dates or employees

Question 21

One of the following statements about multiple inventory locations is incorrect -

A) you can set up more than two inventory locations
B) inventory locations are selected from drop-down lists in journals
C) you can enter different default selling prices for items at different locations in the ledger records
D) entering inventory locations for transactions will update item quantities in the ledger records

Question 22

You can set up multiple inventory locations from -

A) the inventory & service setting screen
B) the inventory ledger record screen for any inventory item
C) the inventory transfer journal
D) all of the above

Question 23

To indicate that an employee has been paid for an activity, you must -

A) complete a payroll journal entry and add the time from time slips
B) fill and remove the time slip for that employee
C) complete the sales invoices for all the customers on the employee's time slip
D) edit the payroll status in the time slip journal

Question 24

You might set up multiple inventory locations to track the quantities of inventory items -

A) in different warehouse locations
B) in different stores
C) that are separated between a store and a warehouse
D) any of the above

Question 25

When you build items in the ledger records -

A) you identify the rules for building the items later in the journal
B) you build one item at a time
C) Sage 50 Accounting will build the items automatically when you enter the quantity on hand on the quantity tab screen and save the record
D) the quantity you enter in the build field becomes the quantity on hand on the quantity tab screen

Question 26

When the actual time on a time slip is 3 hours and the payroll time is 2.5 hours -

A) the employee took 3 hours to complete the task and will be paid for 2.5 hours
B) the employee took 3 hours to complete a task that normally is completed in 2.5 hours
C) the employee took a half-hour break while working on the task
D) the employee took longer than expected to complete the task because he or she was still learning the job

Question 27

When you add time slip information to payroll cheques you must use -

A) the number of hours from the time slips to determine the paycheque amount
B) the number of regular payroll hours from the ledger record to determine the paycheque amount
C) the number of time slip hours billed to customers to determine the paycheque amount
D) none of the above

Question 28

When you change inventory prices from the ledger settings update price lists screen -

A) you must change all prices by the same amount
B) you must change all prices by the same percentage
C) you must change regular prices before updating preferred prices
D) none of the above

Question 29

Payroll hours on time slips -

A) must be added for each employee paycheque, even if they are not used to determine the paycheque amount
B) must equal the number of hours billed to customers
C) must equal the number of hours actually worked on activities
D) are not used for employee paycheques; they only provide employee efficiency data

Question 30

The price list feature in the ledger settings screen allows you -

A) to change some or all regular prices
B) to change some or all preferred prices
C) to create new price lists
D) to make all of the above changes

Question 31

In the time slips journal, you cannot change -

A) how much time was required to complete each billable activity
B) how much each customer was charged for the activity (the billable amount)
C) whether an employee has been paid or not paid for the activity
D) whether an activity is charged on the basis of actual or billable time

Question 32

When the three times entered on a time slip are 4 hours, 3 hours and 2 hours -

A) the customer will be billed for 4 hours of work
B) the employee will be paid for 4 hours of work
C) the employee took 4 hours to complete the task
D) all of the above are correct

Question 33

If the time to complete an activity was 2 hours and 45 minutes, you would enter this time on a time slip as -

A) 2.75
B) 245
C) 2450
D) 000245

Question 34

You would record the movement of inventory items from store A to store B by -

A) recording a sales invoice transaction for store A to sell the items to store B
B) recording a purchase invoice transaction for store B to buy the items from store A
C) recording the transaction in the inventory transfer journal
D) editing the quantities for each location in the inventory ledger record for each item

Question 35

If the update price lists screen shows the options to set Preferred prices by Decreasing Regular prices - Percent 5.0%, you will -

A) change the preferred price for the selected items
B) reduce all preferred prices by 5 percent
C) increase all regular prices until they are 5 percent higher than preferred prices
D) reduce all preferred prices so they are 5 percent less than the regular prices

Question 36

When you use multiple inventory locations, you should enter the locations for -

A) sales of inventory items
B) purchases of inventory items
C) inventory losses
D) all of the above

Question 37

When you begin a new fiscal period -

A) the fiscal end date is advanced by one quarter if the previous fiscal period was one quarter
B) the fiscal end date must be advanced manually from the company information screen
C) the fiscal end date assigned by the program must be accepted
D) the fiscal end date is automatically advanced by one year