Cyberview Resorts Training

Under the accrual basis of accounting, revenues are reported in the accounting period when the

Service Or Goods Have Been Delivered

Cash Is Paid

Both the Above

None of the Above

Assets are usually reported on the balance sheet at which amount?

Cost

Expected Selling Price

Current Market Value

All of the Above

What is a Chart of Account?

Account categories to park my expenses

Account categories to park my revenue

Account categories to park my equity, assets and liabilities

All of the above

For an invoice on 10 October 2018 to Customer A with Payment Term Net 30 Days, and Customer B with Payment Term End of Month 30 Days, their Due Dates are:

Customer A: 30 November 2018; Customer B: 30 November 2018

Customer A: 9 November 2018; Customer B: 30 November 2018

Customer A: 30 November 2018; Customer B: 9 November 2018

Customer A: 9 November 2018; Customer B: 9 November 2018

What is the purpose of Credit Note?

For Discount Purposes

For Invoices Amendments

Stocks Return

All of the Above

The second year depreciation expense for a motor vehicle with cost of $500,000 is:

$500,000

Depreciation of Year 1 + Year 2 (Accumulated Depreciation)

Depreciation of Year 2 only

Depreciation of Year 1 if it is higher

I buy a scanning machine at cost $10,000, I sell it at $25,000; my margin is:

$25,000-$10,000 then divide by $25,000

$25,000-$10,000 then divide by $10,000

$10,000 divide by $25,000

$25,000 divide by $10,000

How can I make my Accounts Payable/ Creditor become Zero?

Pay my Creditors

Get my Creditors to pay me

Pay my Customer

Get my Customer to pay me

Which of the statement below is correct

Statement of Profit and Loss (PNL) will roll over to next Financial Year

Statement of Profit and Loss (PNL) contains Assets, Revenue, and Expenses

Cost of Goods Sold and Administrative Expenses are the example of Direct Costs

Statement of Financial Position (Balance Sheet) will roll over to next Financial Year

Which of the following would not be a current asset?

Land

Prepayments

Account Receivables/Debtors

Inventory

What is Project Accounting?

To analyze project revenue related to the project only

To analyze project revenue and project direct cost related to the project only

To analyze project revenue, project direct cost, project acquisition cost and all other costs related to the project

None of the above

I must not cancel a customer invoice because:

Because my invoice list will become messy

Because my customer might have already captured the invoice in their system

Because my customer usually prefer not to cancel an invoice

Because it might create income tax reporting issue

Which statement as below is correct?

Credit Expense when Expenses increases

Debit Liability when Liability increases

Credit Revenue when Revenue increases

Credit Debtors when Debtor increases

Debit Creditors when Creditors increases

I buy a scanning machine at cost $10,000, I sell it at $25,000; my markup is:

$10,000 divide by $25,000

$25,000 divide by $10,000

$25,000 - $10,000 then divide by $10,000

$10,000 - $25,000 then divide by $10,000

I buy 10 units of iPad at $300 each at 1/1/2018 and 15 units of iPad at $250 each on 1/2/2018. I sell 10 units of iPad on 2/3/2018 and the Cost of Goods Sold is being calculated as 10x $300. What is this costing method?

Standard Price

FIFO

Average

I buy 10 units of iPad at $300 each at 1/1/2018 and 15 units of iPad at $250 each on 1/2/2018. I sell 10 units of iPad on 2/3/2018 and the Cost of Goods Sold is being calculated as (10x $300 + 10x$250)/20. What is this costing method?

FIFO

Average

Standard Price

The account Inventory will appear on the balance sheet as a current asset at an amount that often reflects the __________ of the merchandise on hand.

Cost

Sales Value

Current Market Value

None of the Above

I have a Reordering Rule for iPad at 1200 units, at the Quantity Multiple is 50, what is the quantity of purchase order being drafted when stock level falls to 1020

180

200

For a same product, my customer calls it a different name than my supplier, how can I automate this in the system?

Use different Customer Description and Supplier Description

Use different products

Use different pricelist

Use dfferent Internal Category

In system, under what circumstances does the system creates "Back Order" in receiving of goods?

When I receive goods at back of my warehouse

When I issue more than one PO to same product

When supplier deliver goods partially

When we deliver goods partially

Car manufacturers are able to trace the engine batches that defect. Thus they can recall the exact batch of vehicles that have such issues. How can they do that in the system?

Use Lot/Serial Number

Use Can be Sold Product

Use Can be Sold and Can be Purchased Product

Use Stockable Product

I can capture my details in Opportunity Management as below:

Number of Meetings Arranged, Priority of Leads and Expected Revenue only

To Do Activities, Late Activities, and Expected Revenue only

Number of Quotation Sent, Responsible Sales Person and Expected Revenue only

All of the Above

I do back to back order (Just In Time Inventory) for some products only when there is an order from customer. How can the system automate this?

Use Pricelist

Use Make to Order Product

Use Automated Inventory Valuation

Use Buy Route

Which of the following is the main benefit of Automated Inventory Valuation for product?

Can manually insert Opening Stock and Closing Stock

Can automate accounting entry for stock in and stock out

Can automate inventory reordering

Can automate stock delivery between warehouses

How does system capture the correct accounts when a product is sold?

Through Internal Reference

Through Internal Category

Through Internal Factor

Through Inventory Routes

How does the Remicle system helps to reduce the Quantity of Chart of Accounts?

Using Cost Center and Operating Unit only

Use Analytic Tag only

Use Analytic Account only

Option 1, 2 and 3

Option 1 and 2

I have multiple categories of customers where I sell them different products in different prices. These prices has no percentage relationship between the customers categories. How can I do that in the system?

Use different Pricelist

Use different Product

Use different Internal Category

Use different Product Variants

I have a Reordering Rule for iPad at 400 units, at the Quantity Multiple is 50, what is the quantity of purchase order being drafted when stock level falls to 401

-1

What are the basic 4 modules of Remicle?

Finance, Sales, Purchases and Inventory

Finance, Sales, Purchases and Project Management

Finance, Sales, HR and Inventory

Finance, Sales, Purchases and HR

A trading company buys coke in carton (24 x 500ml) and sell in bottle. How can Remicle automate this?

Use Lot/Serial Number

Use Multiple Unit of Measure

Use different products

Combine all of the above

Cyberview Resorts Training

Accounting Session

Under the accrual basis of accounting, revenues are reported in the accounting period when the

Assets are usually reported on the balance sheet at which amount?

What is a Chart of Account?

For an invoice on 10 October 2018 to Customer A with Payment Term Net 30 Days, and Customer B with Payment Term End of Month 30 Days, their Due Dates are:

What is the purpose of Credit Note?

The second year depreciation expense for a motor vehicle with cost of $500,000 is:

I buy a scanning machine at cost $10,000, I sell it at $25,000; my margin is:

How can I make my Accounts Payable/ Creditor become Zero?

Which of the statement below is correct

Which of the following would not be a current asset?

What is Project Accounting?

I must not cancel a customer invoice because:

Which statement as below is correct?

I buy a scanning machine at cost $10,000, I sell it at $25,000; my markup is:

I buy 10 units of iPad at $300 each at 1/1/2018 and 15 units of iPad at $250 each on 1/2/2018. I sell 10 units of iPad on 2/3/2018 and the Cost of Goods Sold is being calculated as 10x $300. What is this costing method?

I buy 10 units of iPad at $300 each at 1/1/2018 and 15 units of iPad at $250 each on 1/2/2018. I sell 10 units of iPad on 2/3/2018 and the Cost of Goods Sold is being calculated as (10x $300 + 10x$250)/20. What is this costing method?

The account Inventory will appear on the balance sheet as a current asset at an amount that often reflects the __________ of the merchandise on hand.

Systems Session

I have a Reordering Rule for iPad at 1200 units, at the Quantity Multiple is 50, what is the quantity of purchase order being drafted when stock level falls to 1020

For a same product, my customer calls it a different name than my supplier, how can I automate this in the system?

In system, under what circumstances does the system creates "Back Order" in receiving of goods?

Car manufacturers are able to trace the engine batches that defect. Thus they can recall the exact batch of vehicles that have such issues. How can they do that in the system?

I can capture my details in Opportunity Management as below:

I do back to back order (Just In Time Inventory) for some products only when there is an order from customer. How can the system automate this?

Which of the following is the main benefit of Automated Inventory Valuation for product?

How does system capture the correct accounts when a product is sold?

How does the Remicle system helps to reduce the Quantity of Chart of Accounts?

I have multiple categories of customers where I sell them different products in different prices. These prices has no percentage relationship between the customers categories. How can I do that in the system?

I have a Reordering Rule for iPad at 400 units, at the Quantity Multiple is 50, what is the quantity of purchase order being drafted when stock level falls to 401

What are the basic 4 modules of Remicle?

A trading company buys coke in carton (24 x 500ml) and sell in bottle. How can Remicle automate this?