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true false questions 1 in chapter 12 you use sage 50 to organize and monitor account 4301928


True / False Questions

1.In Chapter 12, you use Sage 50 to organize and monitor accounts payable. 


2.In Chapter 12, you use Sage 50 to record cash receipts to vendors. 


3.Merchandising businesses purchase the merchandise they sell from suppliers called vendors. 


4.Accounts payable is the amount of money the business owes to its customers. 


5.When recording a purchase, you enter or select the customer code first. 


6.You can print vendor checks individually or in batches. 


7.In Chapter 12, you set up the merchandising businesses that continue in Chapters 13, 14, and 15. 


8.Purchases made on account from vendors are recorded in the Purchases/Receive Inventory window. 


9.In order for Sage 50 to have your name on its printouts, type your first name then Service Merchandise in the company name field. 


10.The purchase discount is calculated automatically even when merchandise was returned on a specific invoice. 


11.The first month's data entered for Nancy's Service Merchandise is February 2013. 


12.In Chapter 12, you set up Nancy's Service Merchandise using a detailed chart of accounts from one of the many sample companies. 


13.Nancy's Service Merchandise sells hardware, software and equipment. 


14.Nancy's Service Merchandise is a corporation owned by Penelope Pines and her sister, Delilah Delaney. 


15.To enter beginning balances for January 2013, you must select the period from 12/1/12 through 12/31/12 on the Select Period window. 





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