Sage Computerised Accounting - Qp3

1. Computerised accounting helps the company to have control of their credit management and to be aware of what money each customer should be paying and when to expect their payment.

True

False

Computerized accounting systems are designed to efficiently manage and track financial transactions, including credit management. By automating the process, companies can easily monitor and control their credit management, keeping track of which customers owe money and when payments are expected. This helps companies have better control over their cash flow and ensures timely collection of payments, ultimately improving their financial stability. Therefore, the statement is true.

Explanation

Computerized accounting systems are designed to efficiently manage and track financial transactions, including credit management. By automating the process, companies can easily monitor and control their credit management, keeping track of which customers owe money and when payments are expected. This helps companies have better control over their cash flow and ensures timely collection of payments, ultimately improving their financial stability. Therefore, the statement is true.

2. If you have entered any details incorrectly, or details have changed, you will have to create a new customer.

True

False

The statement suggests that if any details have been entered incorrectly or have changed, a new customer will have to be created. The correct answer is "False" because this statement is incorrect. If any details have been entered incorrectly or have changed, it is not necessary to create a new customer. The existing customer's details can be updated or corrected without the need to create a new customer.

Explanation

The statement suggests that if any details have been entered incorrectly or have changed, a new customer will have to be created. The correct answer is "False" because this statement is incorrect. If any details have been entered incorrectly or have changed, it is not necessary to create a new customer. The existing customer's details can be updated or corrected without the need to create a new customer.

3. Creating supply and client records will allow you to keep all details in one place, amend records and produce reports with the click of a button.

True

False

Creating supply and client records in one place allows for easy access to all relevant details. This centralized system makes it convenient to make changes or updates to records as needed. Additionally, having all the information in one place enables the generation of reports quickly and effortlessly. Therefore, the statement is true.

Explanation

Creating supply and client records in one place allows for easy access to all relevant details. This centralized system makes it convenient to make changes or updates to records as needed. Additionally, having all the information in one place enables the generation of reports quickly and effortlessly. Therefore, the statement is true.

4. A Creditor is a supplier who you owe money to.

True

False

A creditor is a person or entity to whom an individual or organization owes money. They are typically suppliers or lenders who have provided goods or services on credit. When someone owes money to a creditor, they are considered a debtor. Therefore, the statement "A Creditor is a supplier who you owe money to" is true.

Explanation

A creditor is a person or entity to whom an individual or organization owes money. They are typically suppliers or lenders who have provided goods or services on credit. When someone owes money to a creditor, they are considered a debtor. Therefore, the statement "A Creditor is a supplier who you owe money to" is true.

5. To amend supplier details, click on 'File' and choose the 'Maintenance' option. Find 'Corrections' on the list and you will be given the option to either amend or delete record.

True

False

To amend supplier details, the correct action is to click on 'File' and choose the 'Maintenance' option. From there, locate 'Corrections' on the list and you will be presented with the choice to either amend or delete the record. Therefore, the statement "To amend supplier details, click on 'File' and choose the 'Maintenance' option. Find 'Corrections' on the list and you will be given the option to either amend or delete record" is true.

Explanation

To amend supplier details, the correct action is to click on 'File' and choose the 'Maintenance' option. From there, locate 'Corrections' on the list and you will be presented with the choice to either amend or delete the record. Therefore, the statement "To amend supplier details, click on 'File' and choose the 'Maintenance' option. Find 'Corrections' on the list and you will be given the option to either amend or delete record" is true.

6. The customer area on the screen will allow you to print out reports.

True

False

The statement suggests that the customer area on the screen has a feature that allows the user to print out reports. Since this feature is mentioned, it implies that the statement is true.

Explanation

The statement suggests that the customer area on the screen has a feature that allows the user to print out reports. Since this feature is mentioned, it implies that the statement is true.

7. A creditor is a customer who owes the company money.

True

False

The statement is false because a creditor is not a customer who owes the company money. A creditor is actually a person or entity to whom the company owes money, such as a lender or supplier. Customers owe money to the company and are called debtors, not creditors.

Explanation

The statement is false because a creditor is not a customer who owes the company money. A creditor is actually a person or entity to whom the company owes money, such as a lender or supplier. Customers owe money to the company and are called debtors, not creditors.

8. Computerised accounting helps the company to have control of their credit management and to be aware of what money you should be paying to each supplier and when suppliers expect their payment.

True

False

Computerized accounting does help the company to have control of their credit management and to be aware of what money they should be paying to each supplier and when suppliers expect their payment. Therefore, the correct answer is True.

Explanation

Computerized accounting does help the company to have control of their credit management and to be aware of what money they should be paying to each supplier and when suppliers expect their payment. Therefore, the correct answer is True.