B Real time C Accrual D Cash basis E None of the above Feedback Correct Real

B real time c accrual d cash basis e none of the

This preview shows page 2 - 4 out of 4 pages.

B) Real time. C) Accrual. D) Cash basis. E) None of the above. Feedback: Correct (Real time) 5
Image of page 2
CORREC T How many digits does a simplified chart of accounts use? A) One. B) Two. C) Three. D) Four. E) Five. Feedback: Corrrect (Four) True or False 1 CORREC T In Sage 50, the new company setup needs to be done by a CPA because it requires so many accounting decisions. A) True. B) False. Feedback: Correct (Sage 50 provides a simple user interface called the New Company Setup Wizard which simplifies the set up process.) 2 CORREC T Selecting a sample chart of accounts locks the user into account names and classifications that cannot be deleted or changed. A) True. B) False. Feedback: Correct (Any sample chart of accounts may be changed at any time. Accounts may be added, deleted, or changed by the user.) 3
Image of page 3
CORREC T When setting up beginning balances for October 1, 2017 you must select the previous month (From 9/1/17 through 9/30/17) on the Select Period window before entering account beginning balances. A) True. B) False. Feedback: Correct 4 CORREC T Account balances as of September 30 are October 1 beginning balances. A) True. B) False. Feedback: Correct 5 CORREC T The default date for reports is the first day of the month. A) True. B) False. Feedback: Correct (The default date for reports is the last day of the month.)
Image of page 4

You've reached the end of your free preview.

Want to read all 4 pages?

  • Summer '19

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes