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Sage Computerised Accounting - Qp4

Question 1 of 3

Q1 . The Nominal Ledger contains numerous accounts and may be described as the central system of the double entry bookkeeping procedure.

Q2 . The default nominal codes are very useful and are an important feature of computerised accounting, especially when beginning a business or new to computerised accounts.

Q3 . The total amounts entered as a 'Debit' should equal the total amounts entered as a 'Credit'.

Q4 . Control Accounts are a set of nominal codes which can be amended or deleted.

Q5 . A nominal code between 6000 - 6999 indicates _______.

Q6 . Each account in the Nominal Ledger has its own Nominal Code; a five digit number which gives the account an identity.

Q7 . _______ nominal codes will indicate capital and reserves.

Q8 . The Profit and Loss Account will show a list of all debit and credit balances which should balance and show equal totals.