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
The Payroll Center:
A.Contains the employee list
B.Manages payroll and tax information
C.Is where employees enter time worked
D.Is located in the Banking Center
To record a credit purchase, use the:
A.Purchase Order > Receive Payment > Deposit
B.Invoice > Receive Payment > Deposit
C.Enter Bills > Pay Bills
D.Invoice > Enter Bills > Pay Bills
The QuickBooks Tax Form Worksheets provide information to complete:
A.Employee pay checks
B.Sales tax forms
C.Payroll tax forms
D.The Income Statement
Which of the following icons appear in the Banking section of the Home page?
A.Receive Payments
B.Enter Bills
C.Write Checks
D.Pay Bills
Which of the following activities and QuickBooks window used to record it is
incorrect?
A.Enter time worked; Weekly Timesheet
B.Pay payroll liabilities; Write Check
C.Enter employee information; Employee List
D.Pay payroll taxes; Pay Liabilities
Which one of the following is paid by both the employee and company?
A.Federal income taxes
B.State income taxes
C.FICA
D.All of these
You would use which QuickBooks feature to prepare a bid for a potential customer?
A.Progress Billing
B.Estimates
C.Enter Bills
D.Invoice
A business transaction is an exchange between:
A.Vendor
B.Employee
C.Customer
D.All of these
To create a budget:
A.From the Company Center, select Company & Financials, Budgets
B.From the Company menu, select Planning & Budgeting, Set Up Budgets
C.From the Edit menu, select Preferences, Set Up Budgets
D.From the Banking menu, select Planning & Budgets, Budgets
Which of the following increases owner’s equity?
A.Dividends
B.Business losses
C.Business expenses
D.Business profits
A credit card payment received against/on an open invoice would be recorded as:
A.Using the Statements icon in the Customers section of the Home page
B.Using the Receive Payments icon in the Customers section of the Home page
C.Using the Credit Card icon in the Banking section of the Home page
D.None of these
The QuickBooks Setup window allows you to enter __________ information.
A.Vendor
B.Customer
C.Banking
D.All of these
The one-step approach to bill paying:
A.Pays the bill and then records the bill later
B.Records a bill when receives and pays the bill later
C.Records and pays a bill at the same time
D.Is not supported by QuickBooks
The Customer List in QuickBooks can be accessed from all of the following except:
A.Banking section of the Home page
B.Customer section of the Home page
C.Customer Menu
D.Customer Center
When creating a new QuickBooks data file for an existing company, QuickBooks
automatically offsets accounts receivable balances with an entry to the:
A.Uncategorized Expenses account
B.Uncategorized Income account
C.Opening Balance Equity account
D.Capital Stock account
Deposits may be recorded using the:
A.Check Register window
B.Write Checks window
C.Reconcile window
D.Print Checks window
When recording a credit card sale using QuickBooks, select:
A.Create Invoice > Customer Payment > Customer & Job Name
B.Make Deposit
C.Create Sales Receipt > Record Deposits
D.Receive Payment > Select Customer & Job Name > Select Payment Method and
enter credit card information
A Reminder Statement provides the following information, except:
A.Purchase Order details
B.Customer’s previous account balance
C.Payments received from the customer
D.Customer’s ending balance
To turn on QuickBooks time tracking feature, the following steps must be completed:
A.Click QuickBooks Menu > Time Tracking
B.Click Edit > Preferences > Time and Expenses > Time Tracking
C.Click Employees > Payroll > Time Tracking
D.Click Employees > Payroll and Employees > Time Tracking
Wholesale customers:
A.Pay no sales tax
B.Pay sales tax
C.Pay a manufacturing tax
D.Pay sales tax on labor only
The Legal Name identifies a company for:
A.Advertising
B.Sales
C.Patents
D.All of these
To print an audit trail report:
A.Select Report menu > Company & Financials > Audit Trail
B.Select the Audit Trail icon in the Company Center
C.Select Report Center > Accountant & Taxes > Audit Trail
D.Select the Audit Trail report from the Company section of the Home page
Which QuickBooks version is designed for mid-sized businesses?
A.QuickBooks Pro
B.QuickBooks Premier
C.QuickBooks Accountant
D.QuickBooks Enterprise Solutions
Which inventory costing method does QuickBooks use to track inventory?
A.First-in First-out
B.First-in Last-out
C.Weighted Average
D.All of these
Which one of the following activities is not shown in the Customer section of the Home
page?
A.Make Deposit
B.Receive Payments
C.Create Estimates
D.All of these
The Income Statement lists:
A.Net Income and Owner’s Equity
B.Income and Expenses
C.Assets and Liabilities
D.Assets and Expenses
Which of the following tasks is completed from the Banking section of the Home page?
A.Enter credit card charges
B.Pay employees
C.Record bills paid
D.Record payments received from customers.
When the balance of an asset account, like Checking, increases, it means that the
account has been:
A.Debited
B.Credited
C.Deposited
D.None of these
To print the Profit & Loss report, select:
A.Report Center > Company & Financials
B.Report Center > Accountant & Taxes
C.Company Center > Company & Financials
D.Company Center > Accountant & Taxes
To add a new account to the Chart of Accounts:
A.Display the Chart of Accounts, select Account, New
B.From the Company menu, select New Account
C.From the Home page, select New Account
D.From the Lists menu, select New Account
A Check Register is a record of all transactions affecting the __________.
A.Payroll account
B.Petty cash account
C.Checking account
D.Taxes payable account
An individual’s status determines how to record payment to that individual. Which of
the following status and payment method is incorrect?
A.Vendor; Bill
B.Employee; Payroll
C.Stockholder; Dividend
D.None of these
The Payroll Summary report can be accessed from:
A.The Employee section of the Home page
B.The Reports Center > Employees & Payroll
C.The Reports Center > Payroll Processing
D.All of these