Reference no: EM132465936

Question 1. The employee summary report option shows

Select one:

a. earnings and deductions from a paycheque

b. all information entered in employee records

c. wage or salary amounts

d. all year-to-date totals

Question 2. In the process of correcting a wrong employee error all but one is used -

Select one:

a. need to make a new entry for the correct employee

b. one should remember to recalculate the taxes

c. open the adjust cheque window for the employee

d. all amounts are automatically reversed when you choose void paycheque

Question 3. When an employee has chosen to deposit paycheques directly to his/her bank account -

Select one:

a. you cannot enter the paycheque in the payroll cheque run journal

b. you can click direct deposit in the journal to issue a regular cheque

c. you cannot issue a cheque directly to the employee unless you change the employee ledger settings

d. you must add the bank account number to the payroll journal for the employee

Question 4. Which of the following are not defined in the payroll ledger settings screens -

Select one:

a. payroll liability and expense linked accounts

b. payroll tax deduction settings

c. employee information and historical deductions

d. income and deduction names

Question 5. The employee default deductions -

Select one:

a. cannot be changed once you finish entering history

b. are entered into the employee ledger records

c. are the same for all employees

d. are defined by the Canada Revenue Agency tax laws

Question 6. Which of the following is not involved in setting up employee entitlements -

Select one:

a. entering the number of days of entitlement accrued for the employee

b. entering linked accounts for the entitlements

c. naming the entitlements

d. entering the number of hours usually worked in a day

Question 7. When you makee a new job category -

Select one:

a. all employees are assigned to the new category initially

b. you cannot assign an employee from another category to the new category at the same time

c. no employees are assigned to new category initially

d. all employees in this category are not salespersons initially

Question 8. If the wrong inventory is selected in a purchase, you can make the correction before posting by -

Select one:

a. opening a new purchase invoice and entering the correct work

b. selecting the incorrect field, entering the correct item, re-entering the quantity

c. removing the purchase invoice from the edit menu and choosing redo

d. re-selecting the supplier from the suppliers list and recording the purchase from scratch

Question 9. The most recent purchase price becomes the default for the next invoice when -

Select one:

a. you type in the amount and the quantity, there is no need to calculate unit price

b. a sale causes the inventory level to drop below zero

c. a new price has been entered for an inventory purchase

d. the inventory is over stocked

Question 10. When you need to compleeete an item assembly journal entry to assemble new inventory -

Select one:

a. the quantity of assembled items will decrease

b. the quantity of assembly components will increase

c. you must transfer inventory items one at a time

d. additional setup costs are divided equally among the assembled items

Question 11. Typing a letter or number of an inventory code in the Item Number field of the sales journal -

Select one:

a. allows you to see a reduced inventory drop-down list

b. opens the Add Inventory Item Wizard

c. opens a Sage 50 Accounting error message that the code is not valid

d. none of the above

Question 12. The information provided from division allocations cannot be used for -

Select one:

a. making decisions to control costs more effectively

b. making decisions about eliminating parts of a business

c. making decisions about expanding the business

d. preparing customer statements

Question 13. Freight expenses -

Select one:

a. cannot be allocated when they apply to purchases of assets if the asset accounts do not allow allocations

b. are allocated separately from the other accounts used in the purchase

c. are allocated in the same proportion as the other accounts used in the purchase

d. can never be allocated