? Question 1
Sales Tax Payable is what type of account?
? Question 2
Which Sage 50 Accounting function is used to create a sale quote for a potential customer?
? Question 3
Which Sage 50 Accounting function is used to record the receipt of returned goods from a customer?
? Question 4
If the perpetual method of inventory is used in Sage 50 Accounting, which of the following occurs when you enter a credit sale?
? Question 5
Sales/Invoicing is the Sage 50 Accounting function used to record a sale on credit.
? Question 6
Which of the following is characteristic of the Sales Tax Payable account?
? Question 7
Question Correct Match
- A document sent at the end of the month showing the balance due by the customer and detailing the transactions that occurred
- A tax imposed by states, counties, and/or cities on the sale of goods to consumers
- A document issued to potential customers listing the prices for goods or services
- A reduction in the selling price of goods which serves as an incentive for the customer to keep the merchandise purchased
- A general ledger account used to record the interest received from finance charges applied to a customer?s overdue invoice
- A document listing the amount of credit granted to a customer for the return of goods or damaged items