Money is the life blood of any organisation and so particular attention should be paid to the ‘Bank’.
A. 
True
B. 
False
2.
Checking the accounts in ‘Cash’ regularly would help to reduce fraud.
A. 
True
B. 
False
3.
Using the Bank area, you can record payments that your organisation has made and received, whether they are cash receipts and payments or payments from Debtors or to Creditors.
A. 
True
B. 
False
4.
Both types of receipt are the same types of transactions and must be indicated as such.
A. 
True
B. 
False
5.
Payments from Debtors will not go into the ‘Cash in Hand’ account; they will go into the ‘Bank Current Account’.
A. 
True
B. 
False
6.
To record a payment that you have made, for example a utility bill, click on the ‘Payment’ icon along the top of the screen in the ‘Creditor’ area.
A. 
True
B. 
False
7.
Transferring money from one account to another is not common practice.
A. 
True
B. 
False
8.
The Journals are used when making an entry to the accounts which are more unusual than the normal sales/purchases, payments/receipts transactions.
A. 
True
B. 
False
9.
A bad debt is created when a creditor has not paid their bill.
A. 
True
B. 
False
10.
Advantages of using computerised accounting is the automatic production of report at will and amending records is straight forward.