SAPB111 (QUIZ 1)

1.       Joe, a business owner, incur expenses for the repair of his house. This expense should not be reflected in financial statements of his business. It should be considered as a personal expense.

• SEPARATE ENTITY CONCEPT
• GOING CONCERN PRINCIPLE
• MONETARY UNIT ASSUMPTION
• HISTORICAL COST

2.       _____________ is the concept that a business will remain in operation for the foreseeable future.

• SEPARATE ENTITY CONCEPT
• GOING CONCERN PRINCIPLE
• MONETARY UNIT ASSUMPTION
• HISTORICAL COST

3.       _____________ is the concept that the transactions of a business should be kept separate from those of its owners and other businesses.

• ACCOUNTING ENTITY CONCEPT
• GOING CONCERN PRINCIPLE
• MONETARY UNIT ASSUMPTION
• HISTORICAL COST

4.       _____________ is the concept that a business should only record transactions that can be stated in terms of a unit of currency.

• ACCOUNTING ENTITY CONCEPT
• GOING CONCERN PRINCIPLE
• MONETARY UNIT ASSUMPTION
• HISTORICAL COST

5.       _____________is the concept that you should include in or alongside the f financial statements of a business all of the information that may impact a reader's understanding of those financial statements.

• COST PRINCIPLE
• MATCHING PRINCIPLE
• PERIODICITY
• FULL DISCLOSURE PRINCIPLE

6.       Double entry bookkeeping is used to satisfy the equation that Assets = ______+_______.

• LIABILITY + ASSET
• LIABILITY + EQUITY
• INCOME + EXPENSE
• CAPITAL + DRAWINGS

7.       The ______________ displays at the top of the screen. It contains the Windows standard menu (File, Edit, W window, Help) as well as generic SAP Business One functions.

• TOOLBAR
• MENU BAR
• MODULE MENU
• WEB BROWSER

8.       The _____________ is a collection of icon buttons that grant you easy access to commonly used functions.

• TOOLBAR
• MENU BAR
• MODULE MENU
• WEB BROWSER

9.       Navigation in SAP Business One is done using the _____________. It arranges the functions of the individual applications in a tree structure.

• TOOLBAR
• MENU BAR
• MODULE MENU
• WEB BROWSER

10.    The users of SAP Business One are defined in the _____________ window.

• TOOLBAR
• WEB BROWSER
• MENU BAR
• USER-SETUP