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Question 1

Identify the statement that is CORRECT about AND function.

Answer 1

B. It returns TRUE only if all conditions are TRUE.

Question 2

Which the following statement is CORRECT regarding the Straight-Line depreciation.

Answer 2

The depreciation expense remains constant throughout the useful life of the asset.

Question 3

In the Reducing Balance method of depreciation, _____________.

Answer 3

C. the depreciation expense decreases each period as a fixed percentage is applied to the asset’s diminishing book value.

Question 4

Debtors Ageing is best described as _____________.

Answer 4

C. a technique for categorising debtors based on the length of time they have been outstanding.

Question 5

_____________ is used in UBS Accounting system to control access to different work
areas.

Answer 5

B. Personal Identification Number (PIN) Control

Question 6

The purpose of assigning a unique code to each account in the Charts of Accounts is to _____________.

Answer 6

C. ensure each account has its own distinct identifier.

Question 7

_____________ characters are used to represent individual subsidiary accounts in the Charts of Accounts.

Answer 7

7

Question 8

A creditor’s account can be deleted if _____________.

Answer 8

there are no transactions recorded and the account balance is zero.

Question 9

These options relate to Clear Files / Generate Sample Chart EXCEPT_

Answer 9

Clear only charts - opening balances b/f and transactions remain.

Question 10

These options relate to Clear Files / Generate Sample Chart

Answer 10

Clear both Charts of Accounts and transactions.

Clear only transactions - charts and opening balances b/f remains.
Clear both Charts of Accounts and transactions - Generate sample chart.

Question 11

____________ function under Transactions tab in UBS system allows users to input details of funds disbursed by the business.

Answer 11

Payments

Question 12

To lock the batch for Sales, the steps are _____________.

Answer 12

Transactions → Organise Batches → Highlight Sales Journal → Lock → OK → L appears in Lock Status.

Question 13

Choose the statement which is INCORRECT related to Audit Trail.

Answer 13

Each sales transaction that was modified is recorded in the Audit Trail. The original transactions are deleted.

Question 14

Choose the statement which is CORRECT related to Audit Trail.

Answer 14

Users may view the Audit Trail to see which sales transactions have been altered.

Any unreasonable modification of transactions, such as human errors, can be spotted via the Audit Trail.
To view the modified sales transactions, the steps are: Periodic → View Audit Trail → Period →Transactions Modified → Password: UBS.

Question 15

The main advantage of the V.Edit button is that _____________.

Answer 15

it provides a faster and easier way to edit multiple transactions within a batch.

Question 16

The steps to check recorded transactions are _____________.

Answer 16

Transactions → Print Batch of Transactions → Batch No. From / Batch No. To → Ok

Question 17

_____________ cannot be generated by UBS Accounting.

Answer 17

Employee Performance Reports

Question 18

Macro is a set of ___________ that you record in Excel and later can be __________ when it is needed.

Answer 18

C. instructions, run

Question 19

In Debtor Ageing Report, you will apply the ________ to determine whether invoices are 30-60 days past due.

Answer 19

D. Nested IF function

Question 20

The hard disk directory used to store data files in UBS Accounting System is

Answer 20

D. C:\UBSACC90\L1\

Question 21

The Account Type Description Setting can be found in __________ tab menu.

Answer 21

B. Housekeeping

Question 22

Identify the account number(s) that is/are NOT CORRECT.

i. 3000//00
ii. 9010/000
iii. 700K/001
iv. 4000/S08

Answer 22

C. i and iii

Question 23

UBS Accounting System allows users to print the following reports EXCEPT ________.

Answer 23

answer : SOCIE

allowed :
Bank recon
Tb
cash flow

Question 24

Identify the correct steps to create a Company Profile.

Answer 24

B. Housekeeping -> Setup -> General Setup

Question 25

To run Year End Processing, go to __________ tab menu.

Answer 25

A. Periodic

Question 26

After performing Year End Processing, the following effects happen EXCEPT:

Answer 26

C. All opening balances will be brought forward to the next accounting year actual effects: A. All transactions from period 1-12 will be removed B. Accumulated profit / loss will be transferred to Retained Earnings account D. Transactions for period 14 will be brought forward to next year as period 2

Question 27

A cash customer returned a defective Cumil Rootan Chair to the seller, Felleny Trading. This transaction is recorded in ___________.

Answer 27

C. Cash Payment Journal

Question 28

V.Edit function allows users _____________.

Answer 28

B. to change or edit more than one transaction in a batch at the same window

Question 29

Entering debtor’s opening balances into the correct period can be done using _____________.

Answer 29

C. Distribute Last Year’s Aging

Question 30

Electricity expenses account number is likely represented by _____________.

Answer 30

C. 9050/000

Question 31

The formula =IF(OR(Condition1,Condition2,Condition3),”YES”,”NO”) will give the result: i. YES if condition 1 and 2 are met ii. NO if condition 2 and 3 are met iii. YES if all the conditions are met iv. NO if all the conditions are not met

Answer 31

C. i, iii and iv

Question 32

The built-in function for straight-line method of calculating depreciation expense is __________.

Answer 32

D. =SLN(cost,salvage,useful life)

Question 33

The followings functions are applied in Debtors Ageing Report EXCEPT:

Answer 33

C. NOT applied: DATE IF NESTED IF

Question 34

The report that is useful to analyze the payment due to supplies for the purpose of cash management is the____________

Answer 34

A. Payable Ageing Report

Question 35

Which of the following is the structure of a correct account number?

Answer 35

D. AAAA/BBB

Question 36

If your accounting year is from 1 April 2021 to 31 March 2022, then period 4 refers to the month of __________.

Answer 36

C. July 2021

Question 37

Which of the following is the Identification Number (PIN) that is normally reserved to management level?

Answer 37

A. PIN (0)

Question 38

The account type ‘J’ when changed to ‘M’ will affect the accuracy of the following EXCEPT:

Answer 38

COGS to EXP : D. Net sales amount affected : A. Net profit B. Gross Profit C. Cost of sales

Question 39

Identify the correct steps required to create Company Profile.

Answer 39

A. Housekeeping → Setup → General Setup.

Question 40

Which of the following is NOT true regarding special listing codes and their specified descriptions?

Answer 40

B. MA – Master Account

Question 41

All of the followings are TRUE regarding PA Special Account EXCEPT:

Answer 41

C. It must be used in double entry. true : A. It stands for Profit Account. B. It serves the purpose to store Net Profit or Loss brought down from last financial year. D. Without creating PA special account in Chart of Account, UBS Accounting system does not allow users to run Year End Processing.

Question 42

Bill Type is used to indicate the type of bill entered into the UBS Accounting system. Which of the following Bill Type is INCORRECT?

Answer 42

C. “R” stands for Receive Cheque correct: A. “I” stands for Invoice B. “D” stands for Debit Note D. “C” stands for Credit Note

Question 43

The following menus can be accessed from Transaction Wizards EXCEPT:

Answer 43

D. Creditors can be: A. Purchases B. Cheque Received C. Cheque Payment

Question 44

Identify the option that is NOT available in the Clear Files/General Sample Chart.

Answer 44

D. Clear both chart & transactions – File Organisation available : A. Clear both chart of accounts & transactions B. Clearly only transaction – chart & b/f remain C. Clear both chart & transactions – Generate sample chart

Question 45

Bank Reconciliation Statement is normally performed by comparing the transactions in __________ and __________.

Answer 45

A. Bank Statement; Bank Account