Archives

From the Customers Section, “Assess Finance Charges” allows you to: A.Re-calculate the correct payment when a discount is applied to a customer bill B.Re-calculate the correct payment when a bill is not paid to a vendor on time C.Add finance […]

Which one of the following classifications is found on the Statement of Cash Flows? A.Cash Flows from Financing Activities B.Cash Flows from Purchasing Activities C.Cash Flows from Owner’s Activities D.Cash Flows from Selling Activities A law firm is an example […]

To record a cash purchase, use the: A.Pay Bills B.Write Check C.Purchase Order D.None of these Taxes are withheld from paychecks for: A.Employees B.Independent Contractors C.Owner’s withdrawals D.All of these Answer: A. The following are payroll liabilities except: A.Federal income […]

The Income Tax Preparation report: A.Summarizes income and expenses that should be listed on a business income tax return B.Lists the assigned tax line for each account C.Provides detailed information about the income and expenses D.All of these The steps […]

What QuickBooks activity comes next in the this string of business activities: Invoice > Receive Payments > ______. A.Deposit B.Receive Payments C.Pay Bills D.Vendor List When standard checks are used for pay checks, pay stubs are printed by selecting: A.Employee […]

Which report provides information to help in tracking accounts receivable? A.Customers with Open Invoices B.Accounts Receivable Aging Summary C.Collections Reports D.All of these Which of the following file types identifies a QuickBooks Portable file? A..QBM B..QBB C..QBX D..QBW Answer: A. […]

Which order are payroll tasks are typically completed? A.Enter Time > Process Payroll Forms > Pay Employees > Pay Payroll Liabilities B.Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms C.Enter Time > Pay Payroll Liabilities […]

The Banking section of the Home Page includes which flow chart? A.Payroll flowchart B.Bank Reconciliation flowchart C.Bill Pay flow chart D.None of these How do you access the Statement of Cash Flows report? A.Report Center icon > Banking B.Report Center […]

To enable progressive billing, select: A.Customer menu > Jobs > Progressive Billing B.Company menu > Preferences > Progressive Billing C.Edit menu > Preferences > Jobs and Estimates > Company Preferences D.Company menu > Estimates > Preferences Which one of the […]

The steps for manually processing payroll tax forms are: A.Click the Process Payroll Forms icon > Print the payroll tax forms B.Print management reports > Locate payroll tax forms > Transfer the amounts in the management reports to the tax […]