Exam (elaborations)
SAGE 50 FINAL REVIEW Questions & answers
SAGE 50 FINAL REVIEW Questions & answers
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SAGE 50 FINAL REVIEWWhen first opening the Sage 50 program you will be asked to choose - ANS-select an
existing company, create a new company, restore from backup
The Sage 50 home window does not display - ANS-icons for individual accounts
Which one of the following comments is not true of the Sage 50 program - ANS-the help
menu may be removed or hidden
When you restore a file from a backup, you must - ANS-press back to change any of
your selections
Home window tool icons in Sage 50 - ANS-are shortcuts for accessing features
provided by some menu options
Businesses must register for GST and apply GST to sales if - ANS-they have annual
sales over $30,000
Items that are not taxable for GST - ANS-are mostly basic necessities
HST differs from GST in that - ANS-it has a different tax rate, it includes a portion for
provincial sales tax
Provincial sales taxes- - ANS-on purchases that are treated as business expenses
GST/HST differs from other sales taxes in that- - ANS-it applies at all levels of sales
Sales taxes on goods and services in Canada- - ANS-are charged at the rate applicable
to the province of destination
Sage 50 provides a complete audit trail by- - ANS-recording original transactions in a
journal, posting the journal amounts into a ledger, numbering & referencing each
transaction
A variety of reports and financial statements may be viewed by- - ANS-selecting the
reports menu and opening the appropriate choice
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