Sage Computerised Accounting - Qp4

8 Questions | Total Attempts: 135

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Sage Computerised Accounting - Qp4

Questions and Answers
  • 1. 
    The Nominal Ledger contains numerous accounts and may be described as the central system of the double entry bookkeeping procedure. 
    • A. 

      True

    • B. 

      False

  • 2. 
    Each account in the Nominal Ledger has its own Nominal Code; a five digit number which gives the account an identity. 
    • A. 

      True

    • B. 

      False

  • 3. 
    _______ nominal codes will indicate capital and reserves.
    • A. 

      0000-0999

    • B. 

      1000-1999

    • C. 

      2000-2999

    • D. 

      3000-3999

  • 4. 
    A nominal code between 6000 - 6999 indicates _______.
    • A. 

      Sales

    • B. 

      Purchases

    • C. 

      Direct expenses

    • D. 

      Miscellaneous overheads

  • 5. 
    The default nominal codes are very useful and are an important feature of computerised accounting, especially when beginning a business or new to computerised accounts. 
    • A. 

      True

    • B. 

      False

  • 6. 
    Control Accounts are a set of nominal codes which can be amended or deleted.
    • A. 

      True

    • B. 

      False

  • 7. 
    The total amounts entered as a ‘Debit’ should equal the total amounts entered as a ‘Credit’. 
    • A. 

      True

    • B. 

      False

  • 8. 
    The Profit and Loss Account will show a list of all debit and credit balances which should balance and show equal totals. 
    • A. 

      True

    • B. 

      False

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