Reference no: EM132939220

Problem 1: How do the Earliest Transaction date and Session date differ -

a. no difference - both serve the same function

b. the earliest transaction date records the entry

c. the session date usually follows the earliest transaction date

d. the session date records the entry

Problem 2: Which statement about editing accounts is true -

a. you may change group accounts to subgroup accounts without a following subgroup total account

b. you may change subgroups accounts to group accounts

c. you cannot change group accounts to subgroup accounts

d. you cannot change account types

Problem 3:  If June 30th is the session date and the Fiscal Year End, the next session date should be -

a. July 1st

b. July 31st

c. June 1st

d. June 30th

Problem 4:  To change an account type from group to subgroup you should -

a. delete the account and re-enter it with the correct type

b. change the account opening balance to zero and then change the type

c. select the account in the general ledger accounts window and edit the type

d. none of the above