Minimum quantity in the INVENTORY & Services module means that you will not ship any less than that specified quantity, at any one time. Question 5 options: True False

Question 6 (1 point) Saved An error in recording a purchase to a wrong supplier account should be corrected by:

Question 6 options: Recording a general journal entry

Recording a Reversing entry and an entry to the correct vendor

Recording in the Sales section of the RECEIVABLES module

Cannot be done, until the month-end has been completed and the new month started

Question 7 (1 point) Saved When an inventory item is added to the Inventory Ledger, which of the following is false:

Question 7 options: The cost of the goods will be calculated following the adding of historical invoice information or the first purchase

Asset, Revenue and Expense accounts must be linked in order for perpetual inventory accounting entries to be recorded

The average purchase cost price of the goods is calculated by Sage 50 Accounting

Preferred selling pricing can no longer be used

Question 8 (0.5 points) Saved The Sage 50 Accounting Premium program displays a confirmation window when you: Question 8 options:

a. Post a transaction

b.When you remove (hide) a module from the Home window

c.Record a transaction

d. Both a) and c) are correct

Question 9 (0.5 points) Saved You should back up your data folders containing the SAJ folder and SAI files:

Question 9 options: Before turning the modules to Ready

After turning the modules to Ready

You don't need to backup your data files

After you create the new company with a default chart of accounts

Question 10 (1 point) Saved Sales returns are deducted from inventory.

Question 10 options: True False

Question 11 (1 point) Saved When a selling price has been set, it cannot be changed again in the INVENTORY & Services module.

Question 11 options: True False

Question 12 (0.5 points) Saved Purchase returns are recorded as a minus quantity in the PAYABLES module, Purchase Journal.

Question 12 options: True False

Question 13 (1 point) Saved An employee's wages/salary can be charged to an expense account.

Question 13 options: True False