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SAGE | 40 Questions and Answers with Complete Solutions | 2024
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SAGE | 40 Questions and Answers with Complete Solutions | 2024
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SAGE | 40 Questions and Answers withComplete Solutions | 2024
Correcting a data error in a payroll journal entry before posting, you should? -
ANSWER Select the incorect fields and enter the correct data
The payroll journal entry and report screen show that only the employer? -
ANSWER Contributed to WCB PAYABLE
In the payroll charge run journal, you cannot? - ANSWER -Enter amounts for
advances and advances discovered
-Enter amount for bonuses and commissions
-Edit the salary amount for a period
To make payroll tax remittances? - ANSWER Select pay remittances in the
payments journal and then select the supplier.
What steps are involved in setting up the payroll ledger - ANSWER -Enter
payroll names and setting default
-Enter the linked payroll accounts for liabilities and expenses
-Enter the employee information and historical deduction
Which one of the following statements about payroll linked accounts is correct? -
ANSWER NONE OF THE ABOVE
To create an employee benefits you would? - ANSWER NONE OF THE ABOVE
, Paid sick leave and paid vacation time are examples of? - ANSWER
Entitlements
To report on the number of unit sold, revenue, cost of good sold and net profit,
you would display The? - ANSWER Inventory sales Report
The best described inventory item linked accounts? - ANSWER -When you
purchase the item, the asset account is debited
-When you sell the item, The revenue account is credited
-When you sell the item, the cost of good sold account is debited
When setting up a new inventory item that is combined from other items? -
ANSWER Set up an inventory ledger record, name the item, record the linked
accounts
When you see the message that a sale has caused one or more items to drop
below the reorder point, you should? - ANSWER Review the inventory quantity
reports to see the items that you need to reorder
When a division is set up and we enter a purchase, the allocate tool? -
ANSWER Will be highlights when an account that allows allocation is selected
What is the rotal amount allocated from the entry shown? - ANSWER $640.20
The general statements about divisions is not true - ANSWER There is no need
to allocated if 100% of the amount is assigned to one division
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