Question :
Multiple Choice Questions
11.The balance sheet lists:
A.Assets, liabilities and capital of : 1199062
Multiple Choice Questions
11.The balance sheet lists:
A.Assets, liabilities and capital of a business
B.Revenues and expenses of a business
C.The percentage of revenue at the end of the year
D.The percentage of debt at the end of the year
E.Cash disbursements
12.The income statement is a summary of:
A.Cash receipts and where they came from
B.Cash payments and what they were used for
C.The overall change in cash
D.Revenues and expenses over a period of time
E.Cost of goods purchased
13.Expenses and revenues over a period of time are shown on the:
A.Statement of cash flow.
B.Departmental gross profit report.
C.Income statement.
D.Balance sheet.
E.Retained earnings statement.
14.One way to display the balance sheet is to use these menu bar selections:
A.Reports & Forms; Financial Statements, Print.
B.Reports & Forms; Financial Statements, Inventory, Options.
C.Business Status; Category field, Financial Statements, Balance Sheet, Display.
D.Business Status; Category field, Financial Statements, Financial Statements, Display.
E.Tasks; select System, make the selections to print.
15.Business managers and owners, depend on financial statements because:
A.Sage 50 automatically calculates accurate financial statements.
B.Financial statements are for internal use only.
C.They have primary responsibility for the business.
D.They can evaluate cash and make appropriate decisions.
E.They can use account balances to customize financial statements.
16.The Income Statement’s net income or (net loss) is also shown on the:
A.Income statement’s revenue section.
B.Balance sheet’s capital section.
C.Departmental gross profit totals.
D.Cash balance at the end of the period.
E.General ledger trial balance.
17.To go from the income statement to an original entry, use this function:
A.Drill down.
B.Options, specific the range.
C.Display.
D.Filter.
E.Columns.
18.A departmentalized accounting system provides information that can be used to:
A.Custom design departmental statements.
B.Evaluate profitability and cost effectiveness.
C.Evaluate current assets.
D.Modify SCA’s standard forms.
E.Figure out the accounting period.
19.When you print or display a report, you can filter the departmentalized report using ____________________________ characters.
A.A prefix
B.Wildcard
C.Hexadecimal
D.Text-based
E.Unrelated
20.The _______________________________ file includes all the data needed for Chapter 7 work.
A.Exercise 6-2.ptb
B.Exercise 6-1.ptb
C.Chapter 6.ptb
D.Exercise 5-2.ptb
E.Chapter 5.ptb
