Accounting System Setup Chapter 11 507 hapter 11 Student Exercises Name 1. True/False Directions: If the sta s: If the statement is true, write T in the space provided. If the statement false, write F in the space provided. The New menu command clears any existing data from memory in prep- aration for setting up a new system. Integrated Accounting supports 12 departments. Integrated Accounting allows for accounts payable and payroll checks to be prepared manually or by computer. Integrated Accounting allows for a monthly or yearly accounting cycle. Classify accounts is used to specify the account numbers needed to gen- erate the payroll journal entries. The required accounts need not be specified during setup. If payroll records are being established at a time other than the beginning of a new year, quarterly and yearly earnings and withholdings must be created for each employee. Integrated Accounting allows accounts to be added to the chart of accounts by selecting them from a master list of accounts. The general, purchases, cash payments, sales, and cash receipts journals included in the software cannot be changed. ation PC). ind- of 10. brackets, rates, and limits provided by the software cannot be changed. II. Questions stions in the space provided Accounting System Setup Chapter 11 507 hapter 11 Student Exercises Name 1. True/False Directions: If the sta s: If the statement is true, write T in the space provided. If the statement false, write F in the space provided. The New menu command clears any existing data from memory in prep- aration for setting up a new system. Integrated Accounting supports 12 departments. Integrated Accounting allows for accounts payable and payroll checks to be prepared manually or by computer. Integrated Accounting allows for a monthly or yearly accounting cycle. Classify accounts is used to specify the account numbers needed to gen- erate the payroll journal entries. The required accounts need not be specified during setup. If payroll records are being established at a time other than the beginning of a new year, quarterly and yearly earnings and withholdings must be created for each employee. Integrated Accounting allows accounts to be added to the chart of accounts by selecting them from a master list of accounts. The general, purchases, cash payments, sales, and cash receipts journals included in the software cannot be changed. ation PC). ind- of 10. brackets, rates, and limits provided by the software cannot be changed. II. Questions stions in the space provided