SAGE 50 - Ch. 11 questions with 100%
correct answers
1. Customer deposits are recorded -
A) as debits to accounts receivable for the customer
B) as negative sales invoices
C) as credits to accounts receivable for the customer
D) when the customer makes a partial payment on account - correct answer ✔✔C) as credits to accounts
receivable for the customer
2. Customer deposits are entered as -
A) positive amounts in the sales invoice journal
B) positive amounts in the receipts journal
C) negative amounts in the receipts journal
D) none of the answers listed here are correct - correct answer ✔✔B) positive amounts in the receipts
journal
3. To convert a purchase quote to a purchase order -
A) select the quote from the quote field list, choose remove the purchase quote and then enter the
order
B) select quote as the transaction, select the quote from the quote field list, choose order and record the
order
C) select quote as the transaction, select the quote from the quote field list, fill the quote then enter the
order
D) two of the options listed here are correct - correct answer ✔✔B) select quote as the transaction,
select the quote from the quote field list, choose order and record the order
4. When correcting a purchase order error before posting you should -
A) open a new purchase order and enter the correct work
, B) remove the purchase order from the edit menu
C) select the incorrect field(s) in the journal and input the correct data
D) re-select from vendors list - correct answer ✔✔C) select the incorrect field(s) in the journal and input
the correct data
5. The purchase order and the purchase invoice that fills the order differ as to -
A) the shipping date
B) the amount of the purchase order/invoice
C) the amount of the GST paid
D) the address of the vendor - correct answer ✔✔A) the shipping date
6. If you accidentally posted an invoice when you intended to issue a purchase order, but never used the
purchase order, you might -
A) leave it - it does not matter
B) look up the order and adjust it
C) look up the order and remove it
D) look up the invoice and pay the amount owing - correct answer ✔✔C) look up the order and remove
it
7. To convert a sales quote to a sales order -
A) select the quote from the quote field list, choose remove sales quote and then enter the order
B) enter a new sales order with the correct information
C) select quote as the transaction, select the quote from the quote field list and fill the quote
D) select order as the transaction, select the quote from the quote field list and record the order -
correct answer ✔✔D) select order as the transaction, select the quote from the quote field list and
record the order
8. When correcting a sales quote error before posting you should -
A) open a new sales quote and enter the correct work
B) remove the sales quote from the edit menu
correct answers
1. Customer deposits are recorded -
A) as debits to accounts receivable for the customer
B) as negative sales invoices
C) as credits to accounts receivable for the customer
D) when the customer makes a partial payment on account - correct answer ✔✔C) as credits to accounts
receivable for the customer
2. Customer deposits are entered as -
A) positive amounts in the sales invoice journal
B) positive amounts in the receipts journal
C) negative amounts in the receipts journal
D) none of the answers listed here are correct - correct answer ✔✔B) positive amounts in the receipts
journal
3. To convert a purchase quote to a purchase order -
A) select the quote from the quote field list, choose remove the purchase quote and then enter the
order
B) select quote as the transaction, select the quote from the quote field list, choose order and record the
order
C) select quote as the transaction, select the quote from the quote field list, fill the quote then enter the
order
D) two of the options listed here are correct - correct answer ✔✔B) select quote as the transaction,
select the quote from the quote field list, choose order and record the order
4. When correcting a purchase order error before posting you should -
A) open a new purchase order and enter the correct work
, B) remove the purchase order from the edit menu
C) select the incorrect field(s) in the journal and input the correct data
D) re-select from vendors list - correct answer ✔✔C) select the incorrect field(s) in the journal and input
the correct data
5. The purchase order and the purchase invoice that fills the order differ as to -
A) the shipping date
B) the amount of the purchase order/invoice
C) the amount of the GST paid
D) the address of the vendor - correct answer ✔✔A) the shipping date
6. If you accidentally posted an invoice when you intended to issue a purchase order, but never used the
purchase order, you might -
A) leave it - it does not matter
B) look up the order and adjust it
C) look up the order and remove it
D) look up the invoice and pay the amount owing - correct answer ✔✔C) look up the order and remove
it
7. To convert a sales quote to a sales order -
A) select the quote from the quote field list, choose remove sales quote and then enter the order
B) enter a new sales order with the correct information
C) select quote as the transaction, select the quote from the quote field list and fill the quote
D) select order as the transaction, select the quote from the quote field list and record the order -
correct answer ✔✔D) select order as the transaction, select the quote from the quote field list and
record the order
8. When correcting a sales quote error before posting you should -
A) open a new sales quote and enter the correct work
B) remove the sales quote from the edit menu
