If GST Charged Had Been Omitted from a Posted Sales

question 38

Multiple Choice

If GST charged had been omitted from a posted sales invoice you should correct the entry by -

• A) selecting the invoice through the adjusting an invoice screen and selecting the appropriate tax code
• B) correct the posted invoice by entering the corrected version
• C) look up the invoice and reverse it
• D) record a separate entry for the GST charged

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Definitions:

Blank Endorsement

An endorsement on a financial instrument with only the signature of the endorser, making it payable to whoever holds the document.

Bearer Paper

An instrument that is not made out to a specific person and can be transferred by possession alone, allowing the holder to claim the rights of the paper.

Unqualified Endorsements

An endorsement on a negotiable instrument, such as a check, without any limitations, allowing for the transfer of rights to another party.

Special

Distinguished or different from what is ordinary or usual, often implying superiority or a specific purpose.