Test Bank for Using Sage 50 Accounting 2024, 1st Canadian Edition by Purbhoo - 2025 Published (All Chapters included)
8 views 0 purchase
Course
Using Sage 50 Accounting 2024, 1ce by Purbhoo
Institution
Acadia University (
)
Complete Test Bank for Using Sage 50 Accounting 2024, 1st Canadian Edition by Mary Purbhoo ; ISBN13: 9780138299668...(Full Chapters included and organized in reverse order from Chapter 19 to 1)...1.Getting Started: Introduction to Sage 50
2.GST, HST and PST
3.Binh's Bin: General Journal
4.Love I...
,The test bank is organized in reverse order, with the last chapter displayed first, to ensure that all chapters are
included in this document. (Complete Chapters included Ch19-1)
1. To start using departmental accounting –
a. choose add departments from the company settings screen
b. choose departments from the setup menu, general settings
c. change the division ledger name to department, open the department ledger and create
departments
d. none of the above – departmental accounting is turned on automatically in the premium version
2. You can add departments to –
a. accounts
b. supplier and customer records
c. journal entries
d. all of the above
3. When you add departments to supplier records –
a. you may choose one department for each supplier
b. you may choose several departments for each supplier
c. you must add department information for each supplier
d. you must activate the option to add departments to suppliers
4. Department information is added to customer records from –
a. the department information setup screen
b. the customer ledger options tab screen
c. the customer ledger address tab screen
d. the customer ledger department tab screen
5. You can add departments to general ledger accounts from –
a. the department information setup screen
b. the general ledger record departments tab screen
c. the general ledger record accounts tab screen
d. methods a and b may be used to add departments to accounts
6. When you add departments to accounts –
a. you may choose one or more departments for each account
b. you can choose only one department for each account
c. you must choose a department for each account
d. b and c above
7. If you add departments to an account –
a. the department is added automatically to the journal when you choose the account
b. the department is added automatically to the journal if it is the only department linked to the
account
c. you must choose the department for the account in a journal to add it to the transaction
d. you can change the default department for an account in the journal
. 19-1
, 8. To add a department to an account in a journal entry –
a. choose a supplier or customer that has a department added to the ledger
b. click the + icon beside the account in the select account list and choose the department
c. there is no need to add the department because the account’s ledger record has the information
and it is added automatically
d. none of the above
9. Departmental report options can include –
a. an income statement for departments
b. adding departments to journal reports
c. showing supplier and customer aged reports by departments
d. all of the above
10. Which of the following statements is correct about using departmental accounting –
a. once you use departments you cannot remove them from the data file
b. you can add departments any time from the Setup menu, General Settings screen
c. using departments is the same as using the division ledger
d. all of the above statements are correct
11. Department account information is automatically added to all accounts in journal entries –
a. when the selected supplier or customer has a department entered in the ledger record
b. when the selected supplier or customer has a departmental account as the default account in the
ledger record
c. when the selected supplier or customer has a department and a departmental account as the
default account in the ledger record
d. when you select one departmental account in the journal, the department is automatically added
to all the linked accounts for the transaction
12. Departmental information cannot be added to a journal entry when –
a. balance sheet accounts are involved because departmental accounting applies only to income and
expense accounts
b. you forgot to add the department for the supplier or customer in the ledger record
c. the entry uses only linked accounts and more than one department is involved in the transaction
d. a sale uses more than one revenue account or a purchase uses more than one expense account
13. When you turn on the option to use line discounts –
a. you must enter the discount rate at the same time so that it will automatically appear in the journal
b. the line discount rate feature is available in the sales journal
c. the same line discount rate (percentage) is applied to all invoice lines in the sale as soon as you
enter it on one line
d. the early payment discount rate is updated to include the additional line discount
14. The discount from entering a line discount in the sales journal –
a. is applied immediately as a debit to the sales discount revenue account
b. is applied when the invoice is paid
c. is applied immediately to a separate linked line discount account
d. is applied immediately to reduce the amount credited to the revenue account
. 19-2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mizhouubcca. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.49. You're not tied to anything after your purchase.
