Question : Multiple Choice Questions 11.Bellwether Garden Supply offers incentives to credit customers : 1199054

 

Multiple Choice Questions

11.Bellwether Garden Supply offers incentives to credit customers to pay sales on account faster, through the use of: 

 

A.Purchase discounts

B.Discounts at the point of sale

C.Sales discounts

D.Net 30 day payments

E.Payments at the end of the month.

12.The customer ID for Teesdale Real Estate is: 

 

A.TEESDALE-01

B.TEESDALE

C.Teesdale-01

D.Teesdale 01

E.Teesdale Estate

13.The price of each inventory item is stored in the: 

 

A.Maintain Purchase Items file

B.Maintain Inventory Items file

C.Tasks; Inventory items

D.Tasks; Purchase orders

E.Maintain Vendors file.

14.When the accounts receivable subsidiary ledger is used: 

 

A.The accounts receivable controlling account in the general ledger is increased by the amount of the credit sale and the credit to the applicable revenue account is offset by a debit to the Customer’s account in the Accounts Receivable ledger.

B.The accounts payable controlling account in the general ledger is increased by the amount of the credit sale and the credit to the applicable revenue account is offset by a debit to the Vendor’s account in the schedule of accounts receivable.

C.The controlling account, accounts receivable is credited.

D.The controlling account, accounts payable is debited.

E.The controlling account, cash is debited.

15.On the Navigation Bar, make the following selections to enter a sales invoice: 

 

A.Customers & Sales Navigation Center, click on the Customers icon and select View and Edit Customers

B.Customers & Sales Navigation Center, click on the Sales Invoices icon and select Set Up Invoice Defaults

C.Tasks; Purchases/Receive Inventory

D.Customers & Sales Navigation Center, click on the Sales Invoices icon and select New Sales Invoice

E.Inventory & Services Navigation Center, click on the Invoice icon, select View and Edit Invoices.

16.The sample company, Bellwether Garden Supply, uses which method of posting? 

 

A.Batch posting

B.Real-time posting

C.Cash basis posting

D.Accrual basis posting

E.Just-in-time posting

17.In this method of posting, the transactions you enter are saved in a temporary holding area where you can review them before posting to the general ledger: 

 

A.Batch posting

B.Real-time posting

C.Cash basis posting

D.Accrual basis posting

E.Just-in-time posting

18.On the Navigation Bar, make the following selections to enter a customer receipt: 

 

A.Tasks; Payments

B.Customers & Sales Navigation Center, click on the Sales Invoices icon and select View and Edit Sales Invoices

C.Customers & Sales Navigation Center, click on the Receive Money icon and select Receive Money from Customer

D.Vendors and Purchases Navigation Center, click on the Write Checks icon and select New Check

E.Inventory & Service Navigation Center, click on the Write Checks icon and select View and Edit Checks.

19.The standard sales discount for Bellwether Garden Supply is: 

 

A.No sales discount is offered

B.1% if paid within 15 days

C.2% if paid within 10 days

D.5% if paid within 15 days

E.3% if paid within 10 days

20.Sage 50’s accounts receivable system includes: 

 

A.Accounts payable subsidiary system

B.Controlling account in the general journal

C.Customer ledgers

D.Purchases/receive inventory window

E.System selections

 

 

 

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