If You Post a Purchase Invoice with 2018 as the Year

question 38

Multiple Choice

If you post a purchase invoice with 2018 as the year in the date field when the fiscal year is 2020 -

• A)Sage 50 Accounting will not post the transaction
• B)Sage 50 Accounting will post the purchase with a reminder that prior fiscal period reports are affected
• C)Sage 50 Accounting will ask for confirmation that the date is correct and then post the entry
• D)Sage 50 Accounting will warn you of the error and then close the journal

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Definitions:

Normative Statement

Statements that express opinions, values, or prescriptions for how the world should be, rather than stating facts.

Value Judgments

Evaluations based on individual or societal beliefs about what is good, desirable, or worthwhile, often influenced by personal ethics or morals.

Law of Averages

A layman's term for the statistical principle that over time, outcomes will tend towards the expected average; not a formal economic law. NO.

Microeconomics

The branch of economics that studies individual units of the economy, such as households and firms, and their interactions in markets.