Chapter 5 Computerized Accounting (Groen Fields)

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Mastering Computerized Accounting Quiz

Test your knowledge on computerized accounting with our comprehensive quiz designed specifically for the Groen Fields curriculum. This quiz covers essential concepts of journals, transactions, supplier management, and more.

Whether you are a student preparing for exams or a professional looking to refresh your accounting knowledge, this quiz offers:

40 thought-provoking questions
Diverse question formats
Immediate feedback on your performance

40 Questions10 MinutesCreated by CalculatingProfit102

1. The purchases journal may be used for the following –

A. Credit or pay later purchase transactions

B. Purchase transactions paid by cash

C. Purchase transactions paid by cheque

D. All of the above

2. The payments journal may be used for the following –

A. Full cash payment to suppliers

B. Partial cash payment to suppliers

C. Purchase transactions paid by cheque

D. All of the above

3. Transactions entered in the payments journal will not allow the following –

A. Recording of all necessary details surrounding the payment

B. Editing the cheque number

C. Entering a payment amount that is more than the outstanding balance to create a credit balance

D. Editing the payment amount

4. When you post a supplier invoice the following accounts are updated –

A. All properly linked accounts

B. Only the purchases and accounts payable general ledgers

C. Only the purchases and accounts payable subsidiary

D. Only the purchases, accounts payable ledgers and HST paid

5. How would you enter a purchase with payment –

A. Open the payments journal and choose invoice with cheque

B. Open the purchases journal and choose invoice and pay later

C. Open the payments journal and choose supplier with cheque

D. Open the payments journal and choose make other payment

6. The HST (harmonized sales tax) on purchases is recorded in –

A. the HST paid account entered as a debit amount

B. the HST charged account entered as credit amount

C. the HST charged account entered as a debit amount

D. the HST paid account entered as a credit amount

7. Drill-down reports –

A. Are available from both purchases and payments journal reports

B. Allow access to detail reports

C. Allow viewing of invoices

D. All of the above

8. Which one of the following general statements is incorrect –

A. Journal reports may be accessed from either the home window or the suppliers windows

B. New suppliers may be added from both the purchases and payments journals

C. The message “there is no data to report” is found in the payments journal

D. It is much easier to enter payments in the payments journal than the general journal

9. A supplier invoice will not show –

A. The description and prices for two items purchased on account

B. the HST code H (HST @ 13% tax not included in price)

C. the HST rate is incorrect

D. The asset purchases have been charged to the appropriate accounts

10. A purchases journal entry will not balance if we –

A. Omit one of two items that were purchased

B. Omit the HST paid

C. Omit the freight charge

D. This entry will balance whether or not we omit any of the above

11. To record a partial payment in the payments journal, you must change –

A. The cheque number

B. The date of payment

C. The invoice number

D. The payment amount

12. Recurring transactions are not generally used for –

A. Daily cash sales

B. Adjusting entries

C. Entries that must be stored and recalled as needed

D. Automatic weekly or monthly charges or payments

13. Which one of the following statements about Payables reports is correct –

A. You may print a supplier aged report – detail

B. You may print a supplier aged report – summary

C. You may select all or individual suppliers

D. All of the above

14. To change a stored/recurring transaction –

A. Remove the stored entry and then re-enter and store the changed transaction

B. Recall the stored entry, edit it and then store it again

C. Recall the stored entry, edit it and post it

D. You cannot change an entry that is stored

15. Which one of the following statements about supplier options is incorrect –

A. An asset account may be selected as the default expense account

B. Print contact on cheques only if the field has an address or department

C. Only the no tax code is available if you choose No as the tax exempt option

D. You can send e-mails to suppliers

16. The payables ledger input screens will not let you enter –

A. e-mail and Web site information

B. Discount terms

C. Accounts Payable control account

D. Current supplier invoices

17. Which role does a properly linked account not perform for a supplier invoice –

A. Allows all subsidiary ledgers to be updated with one amount

B. allows HST to be recorded

C. Allows freight expense to be recorded

D. Allows purchase discounts to be recorded

18. Which of the following statements about the default linked expense account for a supplier is incorrect

A. You can select an asset account as the linked account

B. The default account may be changed in the purchases journal

C. You must select an expense account as the linked account

D. The linked account is entered on the supplier’s option tab input screen

19. Which of the following statements is true about entering sales tax codes in the general journal –

A. When you enter a tax account and amount, the tax codes entry screen opens automatically

B. When you enter a tax account and amount, the sales taxes button becomes available

C. You can enter the tax codes as soon as you open the general journal

D. You cannot enter tax codes in the general journal

20. For which of the following purchase invoice errors would you reverse the entire entry –

A. Entering the wrong date for the invoice

B. Entering the wrong supplier for an invoice

C. Entering incorrect payment terms for the invoice

D. Entering an incorrect account for the invoice

21. From the Payables Module window you cannot –

A. Complete the same activities as you can from the classic view home window

B. Complete all supplier-related activities

C. Access help for entering supplier-related activities

D. Access the home window tools and menu options

22. To open the Payables Module window, you could –

A. Choose open payables module from the home window file menu

B. Choose open payables module from the home window view menu

C. Make the payables module your default home page

D. Choose payables from the home window modules menu

23. From the supplier aged summary report you can learn –

A. The unpaid balance for each invoice

B. The total owing to each supplier

C. The due date for each outstanding invoice

D. Which invoices are fully paid

24. The supplier aged detail report does not include –

A. The payment terms for each invoice

B. Invoices and payments for one-time suppliers

C. A separate entry for each invoice and payment

D. Invoices and payments for suppliers added with the quick add option

25. The Suppliers Aged report does not include –

A. Cash purchases entered in the purchases journal when cheque was the method of payment

B. Cash purchases entered with the make other payment option

C. The original incorrect payment entry for transactions that were adjusted after posting

D. The report includes all of the above

26. The cheque log report –

A. Can be displayed from the report centre financials reports

B. Can be displayed from the report centre payables reports

C. Shows whether cheques have been printed

D. Both a and c are correct

27. Choosing Quick Add when you enter a purchase for a new supplier –

A. Creates a record for the supplier so you can add details later

B. Opens the ledger window so you can enter all the supplier details you need

C. Adds the supplier’s name to the journal entry

D. Is required to continue recording the purchase details

28. All Payables modules reports can be accessed from

A. The payables section of the report centre

B. The reports menu in the home window

C. The reports menu in the suppliers window

D. The report menu in the purchase or payments journal window

29. Why might the discount field be blank when entering a payment –

A. A discount is not set up

B. The discount has expired

C. A discount is not required

D. All of the above

30. To access the general journal when you are working in the Payables module window –

A. Create a shortcut for the general journal

B. Open the company module window

C. Change to the classic view to access the journal

D. All of the above

31. To create a shortcut for the general journal, you would –

A. Open the journal and choose the make shortcut tool

B. Choose make shortcuts from the home window view menu

C. Choose the customize tool in any journal window

D. Choose customize in the module window shortcuts pane

32. After choosing Continue for a new vendor in a supplier invoice –

A. You can open the vendor’s ledger record to add the remaining vendor details

B. There is no ledger record for the new vendor

C. You will be unable to edit the vendor payment terms for later purchases

D. The ledger record already contains all details you added to the purchase invoice

33. After choosing Quick Add for a new vendor in a supplier invoice –

A. You can open the vendor’s ledger record to add the remaining vendor details

B. There is no ledger record for the new vendor

C. You will be unable to edit the vendor payment terms for later purchases

D. The ledger record already contains all details you added to the purchase invoice

34. After choosing Continue for a new vendor in a supplier invoice –

A. You can choose to include this vendor in aged payables reports

B. The aged payables detail report always includes this vendor’s purchase

C. You can choose pay later for the purchase

D. The journal report will include the purchase details with one-time vendor as the vendor’s name

35. You should choose the option to Print Contact on Cheques –

A. For all vendors

B. When the contact field contains address details

C. When the person named in the contact field is the business owner

D. When the person named in the contact field is the treasurer for the business

36. If you post a purchase invoice with 2018 as the year in the date field when the fiscal year is 2020 –

A. Sage 50 Accounting will not post the transaction

B. Sage 50 Accounting will post the purchase with a reminder that prior fiscal period reports are affected

C. Sage 50 Accounting will ask for confirmation that the date is correct and then post the entry

D. Sage 50 Accounting will warn you of the error and then close the journal

37. Which of the following statements about adding new suppliers in the purchases journal is correct –

A. choosing Quick Add opens a ledger record form for the new supplier

B. Choosing the Add link above the supplier field opens a ledger record form for the new supplier

C. choosing Continue creates a partial ledger record for the new supplier

D. All of the above are correct

38. Choosing the Suggested Accounts button in the select account list when in the purchases module will –

A. Show only revenue accounts

B. Show only expense accounts

C. Show the single account that is most likely the one you need

D. Show revenue accounts when you start from the sales journal and expense accounts when you start from the purchases journal

39. To find an invoice you need to adjust from the Search window, you can might search for –

A. Invoices from suppliers beginning with the letters A to D

B. Invoices for a range of dates

C. Invoices for a range of journal entry numbers

D. Invoices with invoice numbers beginning with A or B

40. In the Search results window when adjusting an invoice, you can –

A. Sort the search results by date

B. Reverse the order of the transactions listed

C. Sort the search results by invoice amount

D. All of the above

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