ACC 2010 Week 2 Assignment 2\t\u00a0\t\tMultiple Choice Questions:\t\tIn Chapter 2, backups are made to the following location:\tThe place specified for the USB drive.\tC:SageSoftwarePeachtreeCompany[filename].\tX:Exercise 1A.\tD:Chapter1_Exercise1-1. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\tNone of the above.\t\u00a0\tCash discounts from vendors in return for early payment of an invoice are called:\tSales discounts.\tReturns and allowances.\tPurchase discounts.\tMarkdowns.\tNone of the above.\t\u00a0\tYou can enter information within a lookup field by using one or more of the following keys:\tType the<+>symbol.\tDouble-click with the mouse.\ta. or b.\tType the invoice number.\tNone of the above.\t\u00a0\tWhy is it important that your coding system for vendors be consistent and logical?\tAll vendors and customers should be identified by 3 digits.\tSo that others working in your company can determine a vendor code from the company name.\tAll the vendors and customer numbers are already set up for Bellwether Garden Supply so you don’t have to worry about it.\tAll customers and vendors should be identified by the first eight letters of a company’s name.\tNone of the above\t\u00a0\tWhy is purchase orders used?\tTo post accounting information.\tTo place an order with a customer.\tTo update the accounts payable subsidiary system.\tTo request items from a vendor.\tNone of the above.\t\u00a0\tIt is important to use either upper or lowercase letters to identify a vendor because the program:\tIs susceptible.\tDoesn’t recognize numbers.\tDoesn’t recognize symbols.\tIs case sensitive.\tNone of the above.\t\u00a0\tWhich window do you use to add a new vendor?\tMaintain Vendors.\tPurchases\/Receive Inventory.\tMenu bar.\tSelect a Report.\tNone of the above.\t\u00a0\tGoing from the general ledger to the original entry window is called:\tDrilldown.\tCoding.\tLookup.\tNone of the above.\tAll of the above.\t\u00a0\tWhen you make an entry in the Purchases\/Receive Inventory window for Armstrong’s Landscaping you are debiting and crediting which accounts:\ta.Dr. Accounts Payable\/Armstrong’s Landscaping\tCr. Cash in Checking\tCr. Purchase Discounts\tDr. Cash\tCr. Accounts Payable\tDr. Cash\tCr. Sales\tDr. Materials Cost\tCr. Accounts Payable\/Armstrong’s Landscaping\tNone of the above\t\u00a0\tWhich of the following Navigation Bar, Vendors & Purchases selections do you use to issue a return of merchandise to a vendor?\tVendors & Purchases Tasks; Purchases\/Receive Inventory.\tCredits & Returns; New Vendor Credit Memo.\tSales\/Invoicing.\tCredit Memos.\tNone of the above.\tTrue\/Make True:\tAccounts Payable is money you pay to customers.\tVendor default information needs to be set up to establish the criteria used when computing vendor discounts.\tEach time you use the Write Checks window, you are journalizing in the Cash Disbursements Journal.\tThe purchase discount offered to Cynthia’s Service Merchandise from their vendors is 2% 10, Net 30 Days\tEach time you use the Payments window, you are journalizing in the Purchases Journal.\tThe merchandise that Cynthia’s Service Merchandise buys from Ronald Becker Fabrics is classified as wall coverings.\tThe detailed types list includes chart of accounts numbers with five digits.\tThe Maintain Vendors window is used to enter information about vendors from whom you purchase merchandise.\tAll accounting software applications, regardless of the size of the company, are the same.\tEach accounting software application (for example, Peachtree, QuickBooks, and Microsoft Dynamics GP) has a unique system design.<\/p>\n","protected":false},"excerpt":{"rendered":"
ACC 2010 Week 2 Assignment 2 \u00a0 Multiple Choice Questions: In Chapter 2, backups are made to the following location: The place specified for the USB drive. C:SageSoftwarePeachtreeCompany[filename]. X:Exercise 1A. D:Chapter1_Exercise1-1. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 None of the above. Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-199429","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=199429"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/199429\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=199429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=199429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=199429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}