QUESTION 1 In the journal entry above –
vacation payable shows no allocation because the entire amount is
allocated to one division
the vacation pay amount had not been calculated
vacation payable is not allocated
each amount allocated uses different percentages for the allocation
1 points QUESTION 2 Which one of the following allocated amounts is correct in the journal
entry above –
wage expense – Administration – $582.40
wage expense – Sales – $349.44
WSIB expense – Administration – $17.53
EHT expense – Sales – $5.49
1 points QUESTION 3 Division report options include –
choosing any or all of the revenue and expense accounts
available drill-down report options
summary or detail formats
all of the above 1 points QUESTION 4 The Allocate function may be unavailable when –
the cursor is on a blank journal line
the account ledger does not allow allocations
the item assembly journal is open
all of the above
1 points QUESTION 5 To review the credit card details you entered after processing the
sale, you would –
post the sale and then look up the invoice
click the Review Credit Card Details button before posting the sale
click the Review Credit Card Details button after posting the sale
you cannot review the details after the sale has been processed
1 points QUESTION 6 The journal entry above shows that –
the vacation pay is not allocated
the vacation pay is retained
the vacation pay has been paid
the vacation pay has not been calculated
1 points QUESTION 7 Journal reports can include or omit –
division allocation details
corrections
details from the additional fields
all of the above 1 points QUESTION 8 When you allow allocation for all expense and revenue accounts
the following will not be allocated –
sales and purchase discount amounts
freight expense amounts
freight revenue amounts
all these expense accounts will be correctly allocated if you enter the a
1 points QUESTION 9
Import duties –
are charged at the same rate on all purchases
are always charged on purchases but the rates may vary
may or may not be charged on purchases
are never charged on purchases of inventory items that will be resold
1 points QUESTION 10 When a division is set up and we enter a purchase, the allocate tool –
will
will
will
will automatically be highlighted
automatically be dimmed
be highlighted when an account that allows allocation is selected
be highlighted only when an asset is purchased 1 points QUESTION 11
The option to apply an allocation to the entire transaction is
available in –
sales, purchases and payroll journals
sales, purchases and general journals
sales and purchases journals
all journals
1 points QUESTION 12
for – The information provided from division allocations cannot be used
preparing customer statements
making decisions about expanding the business
making decisions about eliminating parts of a business
making decisions to control costs more effectively 1 points QUESTION 13
The Division module window has journal icons for –
all journals that allow allocations
division journals only
sales, purchases and payments
sales, purchases, general journal and paycheques
1 points QUESTION 14 What is the total amount allocated from the entry shown above –
$582.40
$640.20
$421.37
some other amount
1 points QUESTION 15
Which of the following general statements about divisions is not
correct –
special journals and linked accounts are required for divisions
you may change allocation amounts at any time before posting
you may print journal reports with or without division allocations
if costs cannot be allocated accurately there is no reason to keep divisions
1 points QUESTION 16 Which one of the following general statements about divisions is
true –
all division income reports will show the profits for the selected divisions
allocate revenues by double clicking the allocation column beside the amo
you may print journal reports with or without division allocations
all of the above
1 points QUESTION 17
Divisions may be set up by doing the following –
choosing the method of allocation
creating new divisions and allowing allocations in account ledgers
creating new divisions
none of the above
1 points QUESTION 18 Changing the name of the Division module will not change –
the way you allocate costs and revenues
the name of the reports in the reports menu
the label of the division icon in the home window
the labels in the division allocation windows

 

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