1. Which of the following functions is used to set up a journal entry that will...
1. Which of the following functions is used to set up a journal entry that will automatically repeat in future accounting periods?
- Add a row function
- Open function
- Memorized transaction function
- Recurring transaction function
- None of the above
2. Suppose that an accountant has recorded the wrong date in a journal entry. In Sage 50, the best way to correct the error is to?
- Use the delete function and then record the entire entry again
- Use list function and then open transaction
- Use the memorized transaction function
- Use the recurring transaction function
- None of the above
Homework Answers
Answer-1- The correct option is D. Recurring transaction function.
Explanation- Recurring transaction function is used to setup a journal entry that will automatically repeat in future accounting periods.
Answer--2-The correct option is B. Use list function and then open transaction.
Explanation- For reverse a entry in Sage 50, first go to Journals, Click the relevant journal entry, click reverse and then change the date in a journal entry.
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