HESI EXIT CAT EXAM 2/ HESI COMPUTERIZED
ADAPTIVE TESTING (COMPLETE 160 QUESTIONS AND
ANSWERS)
The first step in setting up a budget in Sage 50 Accounting is - ANSWERchoosing set
up budget from the settings icon
Which of the following statements do not contain features required of a budget -
ANSWERchoosing asset and liability accounts
What reports are affected by the budgeting process - ANSWERIncome statement
If budget forecasts are incorrect you can change the budgets amount by -
ANSWERediting amounts in the general ledger budget tab screen
To change a quarterly budget to a monthly frequency you must - ANSWERenter
general settings and change the frequency to monthly for automatic calculations
Budget amounts should be changed - ANSWERnot necessarily in any of the situations
above
Budget frequencies should be changed - ANSWERwhen the business cycle changes
In budget reports - ANSWERthe position is unfavourable when the actual sales
amount is lower
Which one of the following general statements is true - ANSWERbudget reports
present current ledger data as well as budgeted amounts
To change budgeted amounts, you can - ANSWERedit budget amounts in general
ledger
In the income statement reports, once budgets are set up - ANSWERbudgeted
amounts may be omitted from the reports
Once budget amounts are set up - ANSWERbudget amount may be omitted from any
report
Budget information may be added to the following reports - ANSWERincome
statements
Which of the following statements is correct about budgets - ANSWERbudget
amounts do not affect journal transactions
Batch printing is available - ANSWERafter you turn on the option in the forms
settings screen
ADAPTIVE TESTING (COMPLETE 160 QUESTIONS AND
ANSWERS)
The first step in setting up a budget in Sage 50 Accounting is - ANSWERchoosing set
up budget from the settings icon
Which of the following statements do not contain features required of a budget -
ANSWERchoosing asset and liability accounts
What reports are affected by the budgeting process - ANSWERIncome statement
If budget forecasts are incorrect you can change the budgets amount by -
ANSWERediting amounts in the general ledger budget tab screen
To change a quarterly budget to a monthly frequency you must - ANSWERenter
general settings and change the frequency to monthly for automatic calculations
Budget amounts should be changed - ANSWERnot necessarily in any of the situations
above
Budget frequencies should be changed - ANSWERwhen the business cycle changes
In budget reports - ANSWERthe position is unfavourable when the actual sales
amount is lower
Which one of the following general statements is true - ANSWERbudget reports
present current ledger data as well as budgeted amounts
To change budgeted amounts, you can - ANSWERedit budget amounts in general
ledger
In the income statement reports, once budgets are set up - ANSWERbudgeted
amounts may be omitted from the reports
Once budget amounts are set up - ANSWERbudget amount may be omitted from any
report
Budget information may be added to the following reports - ANSWERincome
statements
Which of the following statements is correct about budgets - ANSWERbudget
amounts do not affect journal transactions
Batch printing is available - ANSWERafter you turn on the option in the forms
settings screen
