[ Sage One Trial Assessment Question Paper ]

Transcription

1 [ Sage One Trial ssessment Question Paper ] SETION 1 TRUE OR FLSE [30 POINTS] 1. The four main reasons to sign up for Sage One ccounting is: No installation hassles No upgrades No data security hassles ccessibility 2. ll registered users that log into Sage One ccounting, have access to the ccountants rea. 3. In the ccountants rea, you will find reports and functions that are usually part of the user s function. 4. You need to have a valid address to register for Sage One ccounting. 5. Sage One ccounting hosts 3 different dashboards. 6. You will create a new company in Sage One cccounting in the ompany Manage ompanies option. 7. You will use the Invoice ased tax system for any standard form of sales tax, goods and services tax.

2 8. You will use the Round own rounding option in Sage One ccounting, to round all your values up to the nearest cent. 9. In Sage One ccounting, there are three types of users, namely Owners, Regular Users and ccountants. 10. There are four types of User efined Fields that can be created in Sage One ccounting. 11. You are able to limit user access for different companies and functions in the system. 12. You can import or export customer, supplier, item and asset information, including transactional data. 13. You will use the Next and Previous links, to navigate between master files. 14. You cannot create a service item in Sage One ccounting.

3 15. When you edit master files, you will notice greyed out fields, you cannot edit these fields. SETION 2 MULTIPLE HOIE [6 POINTS] 1. Which option will you select, if a customer agrees to receive invoices by ? ctive ccepts Electronic Invoices uto llocate Receipts to Oldest Invoice iscount pplies

4 2. Under which main menu option do the following sub options belong? ccountants rea Items Reports ccounts 3. Under which tab can you select a rounding system for your customer invoices? Regional Settings VT Systems Outstanding alances Rounding

5 SETION 3 MTHING OLUMNS [14 POINTS] Match the information listed in olumn with the items listed in olumn. Write down only the letter of your choice next to the corresponding number. OLUMN OLUMN 1 VT Report This report lists all your accounts, including System ccounts, for a selected period. 2 Trial alance ssets expected to be sold or used within a year, such as cash. 3 ost of Sales/Purchases This report lists VT transactions for reporting purposes. 4 urrent ssets This report is a formal record or log detailing all the financial transactions of the company. 5 Expenses E This report details your company's income and expenses. 6 Profit and Loss Report F This is the cost of all physical Item sales, based on the weighted average cost of the Item at the time of sale, plus the cost of all service item purchases. 7 udit Trail Report G ost incurred, such as advertising, rent, stationery and so on Total Marks: 50

6 [ Sage One ccounting Trial ssessment nswers ] SETION 1 TRUE OR FLSE [30 POINTS] 1. The four main reasons to sign up for Sage One ccounting is: No installation hassles No upgrades No data security hassles ccessibility 2. ll registered users can log into Sage One ccounting, have access to the ccountants rea. 3. In the ccountants rea, you will find reports and functions that are usually part of the user s function. 4. You need to have a valid address to register for Sage One ccounting. 5. Sage One ccounting hosts 3 different dashboards. 6. You will create a new company in Sage One ccounting in the ompany Manage ompanies option. 7. You will use the Invoice ased tax system for any standard form of sales tax, goods and services tax.

7 8. You will use the Round own rounding option in Sage One ccounting, to round all your values up to the nearest cent. 9. In Sage One ccounting, there are three types of users, namely Owners, Regular Users and ccountants. 10. There are four types of User efined Fields that you can create in Sage One ccounting. 11. You are able to limit user access to different companies and functions in the system. 12. You can import or export customer, supplier, item and asset information, including transactional data. 13. You will use the Next and Previous links, to skip between master files. 14. You cannot create a service item in Sage One ccounting.

8 15. When you edit master files, you will notice greyed out fields, you cannot edit these fields. SETION 2 MULTIPLE HOIE [6 POINTS] 1. Which option will you select, if a customer agrees to receive invoices by ? ctive ccepts Electronic Invoices uto llocate Receipts to Oldest Invoice iscount pplies

9 2. Under which main menu option do the following sub options belong? ccountants rea Items Reports ccounts 3. Under which tab can you select a rounding system for your customer invoices? Regional Settings VT Systems Outstanding alances Rounding

10 SETION 3 MTHING OLUMNS [14 POINTS] Match the information listed in olumn with the items listed in olumn. Write down only the letter of your choice next to the corresponding number. OLUMN OLUMN 1 VT Report This report lists all your accounts, including System ccounts, for a selected period. 2 Trial alance ssets expected to be sold or used within a year, such as cash. 3 ost of Sales/Purchases This report lists VT transactions for reporting purposes. 4 urrent ssets This report is a formal record or log detailing all the financial transactions of the company. 5 Expenses E This report details your company's income and expenses. 6 Profit and Loss Report F This is the cost of all physical Item sales, based on the weighted average cost of the Item at the time of sale, plus the cost of all service item purchases. 7 udit Trail Report G ost incurred, such as advertising, rent, stationery and so on F G 6. E 7. Total Marks: 50