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 icon > Company & Financial
C.Report Center icon > Accountant & Taxes
D.Company menu > Company Information
What is an asset?
A.What is left after the liabilities are satisfied
B.What a company owns
C.What a company owes
D.None of these
Which report summarizes accounts payable balances by the age of the account?
A.Accounts Payable Aging Detail
B.Accounts Payable Aging Summary
C.Purchases by Vendor Summary
D.Purchases by Item Summary
Customer payments received on progress invoices are:
A.Recorded using the Check Register
B.Recorded using the Statement icon in the Customer section of the Home page
C.Recorded in the same manner as customer payments for standard invoices
D.Recorded using the Progress Invoices icon in the Customer section of the Home page
QuickBooks allows you to import vendor, customer, and employee information from
(Add People You Do Business With section of the QuickBooks Setup window):
A.Yahoo
B.Outlook
C.Gmail
D.All of these
An account’s tax line determines where QuickBooks lists the account balance on the:
A.Income Statement
B.Income Tax Summary Report
C.Balance Sheet
D.Statement of Cash Flows
When creating a new QuickBooks data file for an existing company, QuickBooks
automatically offsets accounts payable balances with an entry to the:
A.Uncategorized Expenses account
B.Uncategorized Income account
C.Opening Balance Equity account
D.Capital Stock account
The Purchase Orders window is used to record which one of the following transactions?
A.A customer order to purchase goods
B.An order to purchase goods from a vendor
C.Services received but not yet paid
D.Cash purchases of supplies
When paying a bill, QuickBooks automatically:
A.Records an expense (credit) and the obligation to pay later (debit)
B.Records an expense (debit) and the obligation to pay later (credit)
C.Reduces the liability (debit) and the checking account (credit)
D.Reduces the liability (credit) and the checking account (debit)