True False Questions

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True / False Questions

• When Bellwether Garden Supply orders inventory from vendors, Account No. 12000, Inventory is

credited.

True False

• Vendors offer Bellwether a purchase discount for invoices paid within a discount period.

True False

• Accounts payable transactions refer to transactions with vendors or suppliers.

True False

• In order to begin where you left off the last time you used Sage 50, you use the backup feature.

True False

• The restore feature is used to save data to the current point in Sage 50.

True False

Computer Accounting with Sage 50 Complete Accounting 2013 17th Edition Carol Yacht Test Bank Visit TestBankDeal.com to get complete for all chapters

2-2 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

• In order to show the GL Account column on journal windows, you should uncheck the settings in

Options; Global that hide the general ledger accounts.

True False

• In Sage 50, the Purchases/Receive Inventory window is also the purchase journal.

True False

• Clicking on the Journal icon on the Purchase Orders window takes you to the general ledger.

True False

• When you click on the Print icon on the Purchase Orders window, you print the purchase order

and also post the purchase order journal.

True False

• In Sage 50, the Purchases/Receive Inventory window is also the purchase order journal.

True False

Multiple Choice Questions

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11. In Bellwether Garden Supply, vendors are set up using:

• Last name first

• First name first

• A coding system

• Defaults

• Use eight characters only.

12. Alphabetic characters in Sage 50 are:

• Not case sensitive

• Case sensitive

• Always uppercase

• Always lowercase

• Combination of upper and lowercase.

13. The contact name for the vendor Armenta's Landscaping is:

• Jesse Wood

• Jerry Johnson

• Steven Cole

• Albert Armenta

• Lilio Chomette

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14. The purchase account for Armenta's Landscaping is:

• 57200, Materials Cost

• 57000, Direct Labor

• 57000-LS, Direct Labor - Landscaping

• 57200-LS, Materials Cost - Landscaping

• 14700, Other Current Assets

• The following accounts are debited and credited when you purchase inventory on account:

• Dr. Inventory account, credit Account Receivable/vendor

• Dr. Accounts Payable/Vendor; Cr. expense account

• Dr. Inventory account; Cr. Accounts Payable/Vendor

• Dr. Accounts Receivable/Customer; Cr. Sales account

• Dr. Accounts Payable/Vendor; Cr. Inventory account.

16. The Payments window is also known as the:

• Cash Receipts Journal

• Purchases Journal

• Sales Journal

• Cash Disbursements Journal

• General Journal