Accounts - Introduction Quiz
This is a test to allow you to show us how much basic knowledge you have of the Accounts Module
- 1.
A sales ledger is used to......
- A.
Maintain a list of debtors we owe money to
- B.
Maintain a list of suppliers who owe us money
- C.
Maintain a list of customers we owe money to
- D.
Maintain a list of customers who owe us money
Correct Answer
D. Maintain a list of customers who owe us money -
- 2.
You can have master and transaction sales ledger accounts. Pick the correct relationship between them from the list below.
- A.
A master account can be linked to many transaction accounts
- B.
A transaction account can be linked to many master accounts
- C.
A master account can only be linked to a single transaction account
- D.
The master account and transaction account must have the same account code
Correct Answer
A. A master account can be linked to many transaction accounts -
- 3.
What is the purpose of sending a statement to a sales ledger account customer?
- A.
To advertise current dealership offers
- B.
To issue a summons for unpaid debt
- C.
To advise the customer of outstanding invoices and receipts
- D.
To show the dealership has paid all outstanding invoices for the customer
Correct Answer
C. To advise the customer of outstanding invoices and receipts -
- 4.
Who would you expect to spend most of their working day in the Sales Ledger module?
- A.
Salesman
- B.
Accounts Clerk
- C.
Accounts Director
- D.
Managing Director
Correct Answer
B. Accounts Clerk -
- 5.
The Credits Given report will allow a business to find the value of any credit notes posted across a date range. This is very useful to see if there are any customers who return goods more frequently.
- A.
True
- B.
False
Correct Answer
A. True -
- 6.
Which of the below cannot be used to select an account in the enquiry screen?
- A.
Post Town
- B.
Post Code
- C.
Account Code
- D.
Telephone Number
Correct Answer
A. Post Town -
- 7.
You can control the number of paper invoices which are printed off in parts or workshop by each sales ledger account.
- A.
True
- B.
False
Correct Answer
A. True -
- 8.
A purchase ledger is used to......
- A.
Maintain a list of debtors we owe money to
- B.
Maintain a list of suppliers who owe us money
- C.
Maintain a list of suppliers we owe money to
- D.
Maintain a list of customers who owe us money
Correct Answer
C. Maintain a list of suppliers we owe money to -
- 9.
GRNI stands for?
- A.
Goods Returned Not Initiated
- B.
Good Received Not Important
- C.
Good Received Not Invoiced
- D.
Goods Received Not Initiated
Correct Answer
C. Good Received Not Invoiced -
- 10.
The aged credit report shows how much we owe our suppliers and when the invoices are due.
- A.
True
- B.
False
Correct Answer
A. True -
- 11.
Within an account enquiry you have the option to view archived transactions. Transactions are archived during the month end process and can be viewed by clicking the Historic button.
- A.
True
- B.
False
Correct Answer
A. True -
- 12.
There is an option to allow you to upload scanned documents when you post an invoice.
- A.
True
- B.
False
Correct Answer
A. True -
- 13.
When the parts department return a part to the supplier it adds a return note to the GRNI report.
- A.
True
- B.
False
Correct Answer
A. True -
- 14.
If you post a nominal ledger journal to a vehicle stock nominal code it will appear on the stock reports in the vehicle system.
- A.
True
- B.
False
Correct Answer
B. False -
- 15.
The nominal ledger can have how many periods open at a time:
- A.
6
- B.
3
- C.
4
- D.
2
Correct Answer
D. 2 -
- 16.
An adjustment journal allows a user to post a nominal ledger journal to a closed financial period.
- A.
True
- B.
False
Correct Answer
A. True -
- 17.
The contra suspense nominal code should have a balance.
- A.
True
- B.
False
Correct Answer
B. False -
- 18.
Below are a list of standard nominal codes, please tick the dump account.
- A.
ZZZZ991
- B.
ZZZZZZ
- C.
ZZZZZX
- D.
XXXXXX
Correct Answer
B. ZZZZZZ -
- 19.
Every financial transaction is linked to a run number.
- A.
True
- B.
False
Correct Answer
A. True -
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Current Version
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Aug 28, 2019Quiz Edited by
ProProfs Editorial Team -
Apr 16, 2018Quiz Created by
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