Ledgr Academy

Operations: the assessment

18 questions from the course's lessons. 80% passes; you see your score, not which answers were wrong. Up to 5 attempts a day.

How is the opening stock you type into Stock Qty valued?
At the sell price
At nothing until the first sale
At the cost price, per unit
Which costing method should you avoid for anything that feeds your tax return?
LIFO
Weighted Average
FIFO
You transfer six lamps from Cape Town HQ to Durban Showroom. When does Durban hold them?
At the end of the month, when stock is revalued
As soon as you tap Initiate Transfer
When Durban receives the transfer on the Transfers tab
You scan a barcode that is not on the count sheet. What happens?
A new product is created for it
Ledgr names the code rather than ignoring it
It is silently ignored
Where does a shortfall go when you commit?
To the inventory write-off and shrinkage account
Nowhere: only the quantity changes
To the cost of sales of the next invoice
Who can commit a stock take?
Someone with the approve permission for inventory
Only the person who started the count
Anyone who can view the Inventory screen
You have added a part to the job but not issued it. Has it left the storeroom?
Only once the invoice is paid
No, adding plans it and Issue from stock moves it
Yes, adding the part moves the stock
What does Create draft invoice do?
Raises a draft invoice from the billable lines and sends nothing
Closes the job without an invoice
Emails the invoice to the customer at once
What does the Completed column on the board mean?
The customer has paid
The work is finished but not invoiced yet
The job was cancelled
You leave the rate blank on an entry. What price does the hour get?
The highest rate anyone in the business charges
Nothing, so the hour is free
The task's rate, then the person's own rate, then the project's
Which hours can travel onto an invoice or a job card?
Approved hours only
Only hours captured with the timer
Any hours, approved or not
When are hours marked as billed?
When the invoice is sent
As soon as the draft invoice is created
When the customer pays the invoice
What does moving a card to Done post to your books?
An invoice to the card's customer
Nothing: a workflow card posts nothing to the books
A journal for the card's value
A column has reached its work-in-progress limit. What happens when you drop another card on it?
The column turns red but takes the card anyway
The oldest card in the column is moved out
Ledgr refuses the drop and names the column, the count and the limit
Where do the numbers on your cards, such as OPS-0001, come from?
They are typed in by hand on each card
They copy the invoice number sequence
The board's item prefix and a counter that never reissues a number
You hire out a compactor at R450 a day and R1 350 a week for nine days. What is the customer charged?
One week and two days, R2 250: the cheapest mix that covers the hire
Nine days at R450, R4 050
Two weeks, R2 700
A customer phones to say they have finished with a hire on Monday, and you collect it on Wednesday. When does the charge stop?
The day it was due back
Monday, the day it is off-hired
Wednesday, the day it is collected
Where is a compactor you hire out kept in your books?
In stock, on the inventory account
As a fixed asset, depreciated with your other assets
Nowhere until it is sold

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