Chapter 13, Multiple Choice Questions:
_____ 1.Cindy’s Service Merchandise charges sales tax to all sales made in:
a.Georgia
b.Oregon.
c.Washington.
d.Arizona.
e.None of the above.
_____ 2.The money that your customers owe to the business is known as:
a.Accounts payable.
b.Revenue.
c.Accounts receivable.
d.Cash in bank.
e.None of the above.
_____ 3.The sales tax rate is:
a.6%.
b.7%.
c.8%.
d.9%.
e.None of the above.
_____ 4.Use the following Navigation Bar options to record entries in the Cash Receipts Journal:
a.Customers & Sales; Receive Money, Receive Money from Customer.
b.Customers & Sales; Customers, Receive Money, View and Edit Payment Received.
c.Vendor & Payments; Customers, Receive Money, Receive Money from Customer.
d.Tasks; Sales/Invoicing.
e.None of the above.
_____ 5.Use the following Navigation Bar options to record entries in the Sales Journal:
a.Maintain/Customers Prospects.
b.Customers & Sales; Customers, Set Up Customer Defaults.
c.Customers & Sales; Sales Invoices, New Sales Invoice.
d.Maintain; Default Information, Customers.
e.None of the above.
_____ 6.The owner(s) of Cindy’s Service Merchandise are:
a.Eric Lanning.
b.Cindy Barton.
c.both a. and b.
d.Jessica Pierce.
e.None of the above.
_____ 7.SCA's accounts receivable system allows you to set up all of the following, EXCEPT:
a.Customers.
b.Inventory items.
c.Finance charges.
d.Vendors.
e.None of the above.
_____ 8.All journal entries made to the Sales Journal are posted to the
General ledger and to the:
a.Accounts payable ledger.
b.Customer ledger.
c.Job cost ledger.
d.Payroll register.
e.None of the above.
_____ 9.The sales tax payable account is:
a.Account No. 52000.
b.Account No. 53000.
c.Account No. 23100.
d.Account No. 12000.
e.None of the above.
_____10.The Customer ID for Aileen Parker is:
a.AAP001.
b.ap001.
c.ap002.
d.AP002.
e.None of the above.
_____11.The Cash Account number is shown on which of the following windows:
a.Sales/Invoicing.
b.Purchases/Receive Inventory.
c.Receive Money.
d.General Journal Entry.
e.None of the above.
_____12.The account used for hardware sales is:
a.Account No. 40000.
b.Account No. 40800.
c.Account No. 40200.
d.Account No. 40400.
e.None of the above.
_____13.A sales return is also called a/an:
a.Credit memo.
b.Debit memo.
c.Invoice.
d.Receipt.
e.None of the above.
_____14.To back up all of Chapter 13's data, the following file name is used:
a.Chapter 13 Begin.
b.Chapter 13b.
c.Backup.
d.Chapter 13.
e.None of the above.
_____15.The GL Sales Account for wall is:
a.Account No. 44200.
b.Account No. 44300.
c.Account No. 44400.
d.Account No. 40200.
e.None of the above.
ANALYSIS QUESTION
What is the balance in the Accounts Receivable account, Cindy’s Service Merchandise? Why? (Hint: Analysis questions refer to Cindy’s [or your name] Service Merchandise, not the company set up in the exercise.)
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