sage accounting dec revision questions
with verified solutions
What is the correct coding format for entering an overdrawn Bank Current account (1210) opening
balance of £375 and a
Petty Cash (1230) account opening balance of £50 from the suggestions below? - correct answer ✔✔CR,
N/C 1230, £50 and DR, N/C 1200, £375
When debtors and creditors opening balances are being posted at the start of the financial year -
01/02/XX, which of the
following dates could be used? - correct answer ✔✔a. 03/01/XX,c. 31/01/XX ,d. 31/12/XX
Company C processes its shop takings using the journal to record their counter takings monthly and pay
them into the bank
account. The accounts assistant notices an over payment of £15.00 in the till, how would this be posted?
- correct answer ✔✔Dr Journal to Bank account - CR Journal to N/C 4000 - increase in profit.
To retain a bank reconciliation that has been partly processed, without losing the matched transactions,
what icon can be
used within the bank reconciliation window? - correct answer ✔✔Save Progress
A business owner manager runs a Trial Balance report and is not sure that it is correct. She decides to
send it to the
accountant for review of the balances and runs the report to Preview. What would be the quickest way
to send the
information to the accountant? - correct answer ✔✔c. share, d. email
When using the Journal Reversal function, the information required to locate the journal that requires
removing includes
which of the following? (Tick all that apply). - correct answer ✔✔a. transaction number, b. date
, When a VAT Return has been checked, reconciled and sent to HMRC via the Government Gateway, what
Status will the
VAT Return have in the Manage VAT menu? - correct answer ✔✔Submitted
The bank has returned a cheque from a Customer. What is the best way of processing this information? -
correct answer ✔✔Use the Choose Customer Write offs & returns.
If payments have been made from the Petty Cash account and the Bank Payments report is chosen, why
might the report
return no information? - correct answer ✔✔The Cash Payments report should have been chosen.
Which function key will copy the cell above in the Batch Invoice screen? - correct answer ✔✔F6
To adjust the accounts to allow for owners private use of some stock totalling £30.00 + VAT, which of the
following journals
would correct the accounts accordingly? - correct answer ✔✔CR - Purchases, CR - Sales Tax Control, DR -
Drawings
A business would like to see the report displayed using the Customers - Aged debt icon, shown by
balance descending. Is
this possible to achieve? - correct answer ✔✔A custom report would be required.
When posting transactions into Sage, which of the following could be used as a cost centre for the
item(s) and would enable
the production of profitability reports by that cost centre? - correct answer ✔✔Departments
A company wishes to disable the 'Terms Agreed' warning for all new Customers and Suppliers. Where,
from the list below,
can this function be accessed? - correct answer ✔✔Customer and Supplier Defaults
with verified solutions
What is the correct coding format for entering an overdrawn Bank Current account (1210) opening
balance of £375 and a
Petty Cash (1230) account opening balance of £50 from the suggestions below? - correct answer ✔✔CR,
N/C 1230, £50 and DR, N/C 1200, £375
When debtors and creditors opening balances are being posted at the start of the financial year -
01/02/XX, which of the
following dates could be used? - correct answer ✔✔a. 03/01/XX,c. 31/01/XX ,d. 31/12/XX
Company C processes its shop takings using the journal to record their counter takings monthly and pay
them into the bank
account. The accounts assistant notices an over payment of £15.00 in the till, how would this be posted?
- correct answer ✔✔Dr Journal to Bank account - CR Journal to N/C 4000 - increase in profit.
To retain a bank reconciliation that has been partly processed, without losing the matched transactions,
what icon can be
used within the bank reconciliation window? - correct answer ✔✔Save Progress
A business owner manager runs a Trial Balance report and is not sure that it is correct. She decides to
send it to the
accountant for review of the balances and runs the report to Preview. What would be the quickest way
to send the
information to the accountant? - correct answer ✔✔c. share, d. email
When using the Journal Reversal function, the information required to locate the journal that requires
removing includes
which of the following? (Tick all that apply). - correct answer ✔✔a. transaction number, b. date
, When a VAT Return has been checked, reconciled and sent to HMRC via the Government Gateway, what
Status will the
VAT Return have in the Manage VAT menu? - correct answer ✔✔Submitted
The bank has returned a cheque from a Customer. What is the best way of processing this information? -
correct answer ✔✔Use the Choose Customer Write offs & returns.
If payments have been made from the Petty Cash account and the Bank Payments report is chosen, why
might the report
return no information? - correct answer ✔✔The Cash Payments report should have been chosen.
Which function key will copy the cell above in the Batch Invoice screen? - correct answer ✔✔F6
To adjust the accounts to allow for owners private use of some stock totalling £30.00 + VAT, which of the
following journals
would correct the accounts accordingly? - correct answer ✔✔CR - Purchases, CR - Sales Tax Control, DR -
Drawings
A business would like to see the report displayed using the Customers - Aged debt icon, shown by
balance descending. Is
this possible to achieve? - correct answer ✔✔A custom report would be required.
When posting transactions into Sage, which of the following could be used as a cost centre for the
item(s) and would enable
the production of profitability reports by that cost centre? - correct answer ✔✔Departments
A company wishes to disable the 'Terms Agreed' warning for all new Customers and Suppliers. Where,
from the list below,
can this function be accessed? - correct answer ✔✔Customer and Supplier Defaults
