Computer Accounting with QuickBooks 2014 16th Edition

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 charges to customer bills when bills are not paid by the due date D.All

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 Answer: A. Answer: A. Answer: A. A law firm is an example of a _________ company. A.Service B.Retail Shop C.Manufacturing D.Product-based business Answer: A.

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

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 Answer: B. Answer: B. Answer: B. The steps to set up a new service company in

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 Answer: A. Answer: A. Answer: A. When standard checks are used for pay checks, pay stubs are printed by selecting: A.Employee menu > Print Pay Stubs B.File menu > Print Forms >

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 Answer: D. Answer: D. Answer: D. Which of the following file types identifies a QuickBooks Portable file? A..QBM B..QBB C..QBX D..QBW Answer: A. Answer: A. Answer: A. The Payroll Center: A.Contains the employee list B.Manages payroll and

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 > Process Payroll Forms > Pay Employees D.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 Answer: B. Answer: B. Answer: B. How do you access the Statement of Cash Flows report? A.Report Center icon > Banking B.Report Center icon > Company & Financial C.Report Center icon > Accountant &

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 Answer: C. Answer: C. Answer: C. Which one of the following activities is not shown in the Vendor

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 forms C.Print financial statements > Locate payroll tax forms > Transfer the amounts