NAME KEY
QUICKBOOKS DESKTOP 2018:
A COMPLETE COURSE
FINAL EXAM
TRUE/FALSE
ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE
QUESTION NUMBER.
reconciliation will be entered automatically in the checking account register
when the reconciliation is complete.
preference, QuickBooks Desktop will automatically use the custom format for
reports prepared in the Report Center or from the Reports menu.
merchandise is recorded.
as an expense.
a separate check to the agency for each tax liability item.
to be applied to invoices being paid by clicking Cancel.
automatically deducts any credits before calculating the sales discount.
FINAL EXAM
2
QUICKBOOKS DESKTOP 2018: A Complete Course
payment of sales taxes to the appropriate agency when using the Manage
Sales Tax feature of the program.
F 11. In a sole proprietorship an owner’s name is added to the Vendor list for
recording withdrawals.
prepared.
accomplished by editing the invoice.
to a payment to the vendor.
F 15. To close the balances of the Uncategorized Expenses and Uncategorized
Income accounts, you record a clearing transaction.
an inventory item on an invoice.
checks for payment of the liabilities.
computer.
your company in QuickBooks Desktop.
T 22. At the end of the year, a closing entry to transfer the owner withdrawals from
the drawing account to the capital account needs to be made.
F 25. QuickBooks Desktop icons appear beneath the title bar and have a list of
drop-down menus.
Final Exam—Key FINAL EXAM
3
T 28. QuickBooks Desktop prevents the deletion of an account once it has been
used even if it simply contains an opening or an existing balance.
debits and credits and special columns, QuickBooks Desktop uses an
invoice to record sales transactions for accounts receivable in the Accounts
Receivable Register.
the Accounts Payable account in the Chart of Accounts/General ledger.
into the Owner’s Equity account and allows you to protect the data for the
year by entering a closing date.
cash received for sales.
Bar.
customers on account to the most current invoice.
closing to be performed at the end of each year.
T 37. If a salaried employee uses vacation pay, QuickBooks Desktop will
automatically distribute the correct amount of earnings to Vacation Salary
once the number of vacation hours has been entered.
F 38. The Accountant’s Copy of the company file is used to record day–to-day
business transactions.
be created directly from the Sales Order.
FINAL EXAM
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QUICKBOOKS DESKTOP 2018: A Complete Course
the customer the amount of the penalty charges you impose.
Undeposited Funds account. When the actual bank deposit is made, the
amount is deposited into the checking or bank account.
Accounts.
and from an accounts receivable perspective.
MULTIPLE CHOICE
WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED
BEFORE THE QUESTION NUMBER.
A. cash sales
B. cash or checks received from customers but not yet deposited in the bank
C. the balance of the accounts receivable account
D. income earned in a previous year
A. the amount is changed to 0.00
B. the word Deleted appears as the Memo
C. it is removed without a trace
D. a bill cannot be deleted
A. cash sale
B. sale on account until reimbursement is received from a bank
C. sale on account
D. bank deposit
C 49. In order to customize a(n) , you must duplicate it.
A. Purchase Order
B. Sales Receipt
C. Invoice
D. All of the above
Final Exam—Key FINAL EXAM
5
A. Start Interview button
B. Begin button
C. Convert Data button
D. Detailed Start button
A. income
B. cost of goods sold
C. expense
D. asset
A. Purchase Orders for each item on order
B. items marked to reorder
C. each item a company sells
D. both A and B
A. a calculator
B. adding machine tape
C. a calculator with adding machine tape
D. none of the above
recording the bill next month.
A. customize My Preferences for Bills
B. memorize a report
C. memorize a transaction
D. All of the above
A. LIFO
B. FIFO
C. the gross profit method
D. the average cost method
A. as soon as outstanding purchase orders are received
B. the beginning of next month
C. immediately
D. the beginning of the next fiscal year
FINAL EXAM
6
QUICKBOOKS DESKTOP 2018: A Complete Course
A. File Menu
B. QuickBooks Desktop Company Preferences screen
C. Activities Menu
D. any of the above
will .
A. create a separate check for each liability
B. consolidate liabilities paid and create one check for each vendor
C. automatically process a Payroll Liabilities report
D. prepare any tax return forms necessary
A. Payroll & Employees Preferences
B. Employee List
C. Employee Center
D. any of the above
A. Sales Journal
B. Purchases Journal
C. Accounts Payable Ledger
D. Payables schedule
B 61. In accrual basis accounting, insurance is a(n) until it is used.
A. expense
B. asset
C. liability
D. cost of goods sold
vendor line .
A. enters the vendor’s name on the line if it is in the Vendors list
B. takes you to the vendor’s account in the Vendor Center
C. displays the Transaction Info tab for the vendor
D. Indicates you want to type the vendor name completely
you use the .
A. Employee Center
B. Employee File
C. Employee Roster
D. Employee Record
Final Exam—Key FINAL EXAM
7
A. the chart of accounts
B. sales
C. the cash account
D. supplies
A. by clicking My Company icon
B. by customizing the business form
C. by changing Reports & Graphs Preferences
D. by selecting Customize in the Reports Center
.
A. record the bill for the full amount ordered
B. close the purchase order
C. not allow the bill to be prepared until all the merchandise is received
D. record the bill only for the amount received
A. QuickAdd
B. Setup
C. Add New
D. any of the above
A. changes are not allowed
B. it lists accounts and amounts at the bottom of the screen
C. it provides a Payroll Summary and an option to view Paycheck Detail at
the bottom of the screen
D. once created, it may not be voided or deleted
capital account is made prior to the end of the year, the Balance Sheet
shows .
A. Owner’s Equity
B. Net Income
C. both Net Income and Owner’s Equity
D. none of the above because the income/earnings has been transferred
into capital
A. are automatically recorded at the completion of the bank reconciliation
B. must be recorded after the bank reconciliation is complete
C. should be recorded on the first of the month
D. should be recorded while reconciling the bank statement
FINAL EXAM
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QUICKBOOKS DESKTOP 2018: A Complete Course
A. the Icon bar
B. QuickBooks Navigator
C. the Menu bar
D. the Title bar
A. Accounts Payable Register
B. Chart of Accounts
C. Vendor Center
D. all of the above
credit memo is prepared and .
A. a refund check is issued
B. the amount of the return may be applied to the invoice for the original
sale
C. the customer determines whether to apply the amount to the invoice for
the sale or get a refund check
D. any of the above
A. Trial Balance
B. Income Statement
C. Profit & Loss Statement
D. Balance Sheet
view an individual customer’s information by using .
A. QuickReport
B. QuickZoom
C. QuickGraph
D. QuickSummary
A. on a bill
B. on an item receipt form
C. on the original purchase order
D. in the journal
A. only at the end of the year
B. only when there is a voided check
C. only as an individual employee report
D. as part of a voucher check
Final Exam—Key FINAL EXAM
9
A. is a duplicate of the company data
B. is prepared in case of emergencies or errors
C. is restored to a .qbw file for use
D. all of the above
the key.
A. =
B. &
C. $
D. @
cash sale into the until you record a deposit to a bank account.
A. Sales Ledger
B. Receipts file
C. Undeposited Funds account
D. Accounts Receivable Ledger
account name, it means that the transaction is split between two or more .
A. journals
B. customers
C. accounts or items
D. reports
A. Sales Receipt
B. Receive Order
C. Sales Order
D. Purchase Order
A. cash items
B. noncash items
C. made at any time
D. all of the above
A. transaction password
B. closing date
C. entry password
D. set-up password
FINAL EXAM
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QUICKBOOKS DESKTOP 2018: A Complete Course
debits and credits and special columns, QuickBooks Desktop uses a(n)
to record sales transactions for accounts receivable.
A. Sales Receipt
B. Credit Card Receipt
C. Invoice
D. Undeposited Transaction Register
drawing account into the account.
A. Owner’s Equity
B. Net Income
C. Capital
D. Investment
B 87. Sales tax is paid by using .
A. Pay Bills
B. Manage Sales Tax
C. Write Checks
D. Credit Card
A. writing a check
B. using the Pay Bills window
C. using petty cash
D. allowing QuickBooks Desktop to generate the check automatically five
days before the due date
account are called .
A. dependent accounts
B. secondary accounts
C. subaccounts
D. mini-accounts
elements of your business using .
A. line graphs
B. pie charts
C. bar charts
D. both B and C
Final Exam—Key FINAL EXAM
11
FILL-IN
IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPROPRIATELY
COMPLETES THE SENTENCE.
92. A report that you have customized by sizing, adding, and/or removing columns may
94. Orders for merchandise are prepared using the QuickBooks Desktop Purchase
the chart of accounts along with checking and savings accounts.
98. Changes to an inventory quantity may be made by clicking the Inventory Activities
expenses when the purchase is made or the bill is paid.
information for earnings, withholding, and payroll liabilities to be entered for the year–
to-date.