Exam (elaborations)

Test Bank for Using Sage 50 Accounting 2024, 1st Canadian Edition by Purbhoo - 2025 Published (All Chapters included)

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Using Sage 50 Accounting 2024, 1ce by Purbhoo

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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...

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using
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accounting 2024
1st canadian edition
1ce
purbhoo
9780138299668
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TEST BANK

Using Sage 50 Accounting 2024, 1st
Canadian Edition by Mary Purbhoo

Complete Chapter Test Bank
are included (Ch 1 to 19)

** Immediate Download
** Swift Response
** All Chapters included
** Extra Files included

,Table of Contents are given below

1.Getting Started: Introduction to Sage 50
2.GST, HST and PST
3.Binh's Bin: General Journal
4.Love It Again: General Ledger Setup
5.Groen Fields: Accounts Payable
6.Phoebe's Photo Studio: Accounts Receivable
7.Air Care Services: Receivables & Payables Setup
8.Helena's Academy: Payroll Journal
9.Northern Lights: Payroll Ledger Setup
10.Kara's Kitchens: Inventory
11.Andersson Chiropractic Clinic: Orders, Quotes & Deposits
12.Maple Leaf Rags: Currencies, Remittances & Accountant's Copy
13.Shady Corners: Allocations & Electronic Payments
14.Sound, Inc.: Budgeting
15.Tesses Tresses: Reconciliation & Deposits
16.VeloCity: Payroll & Inventory Setup
17.Stratford Country Inn: Comprehensive Practice
18.Ryder's Routes: Time & Billing
19.Able & Associates: Departmental Accounting

,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)

CHAPTER 19: QUESTIONS (Able & Associates – Advanced Premium Features)

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

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Exam (elaborations)

Test Bank for Using Sage 50 Accounting 2024, 1st Canadian Edition by Purbhoo - 2025 Published (All Chapters included)

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