NAME KEY
QUICKBOOKS® 2014:
A COMPLETE COURSE
COMPREHENSIVE 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.
to be applied to invoices being paid by clicking Cancel.
company, QuickBooks will automatically use the custom format for the
company.
merchandise is recorded.
as an expense.
separate check to the agency for each tax liability item.
customers, and vendors.
deducts any credits before calculating the sales discount.
FINAL EXAM
2
QUICKBOOKS® 2014: A COMPLETE COURSE
sales taxes to the appropriate agency when using the Manage Sales Tax
feature of the program.
automatically when preparing multiple reports.
recording withdrawals.
prepared.
by editing the invoice.
to a payment to the vendor.
menus.
if a customer is marked taxable.
checks for payment of the liabilities.
your company in QuickBooks.
the drawing account to the capital account needs to be made.
FINAL EXAM—KEY EXAM
3
Income accounts, you record a clearing transaction.
the form used to record the transaction; it also changes all journal and
account entries for the transaction to reflect the correction.
accounts.
if it simply contains an opening or an existing balance.
debits and credits and special columns, QuickBooks 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.
Owner’s Equity account and allows you to protect the data for the year by
entering a closing date.
cash received for sales.
Bar.
be performed at the end of each year.
distribute the correct amount of earnings to Vacation Salary once the number
of vacation hours has been entered.
FINAL EXAM
4
QUICKBOOKS® 2014: A COMPLETE COURSE
business transactions.
be created directly from the Sales Order.
and from an accounts receivable perspective.
Undeposited Funds account. When the actual bank deposit is made, the
amount is deposited into the checking or bank account and bank fees for the
cards are deducted directly from the bank account.
Accounts.
the customer the amount of the penalty charges you impose.
MULTIPLE CHOICE
WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED
BEFORE THE QUESTION NUMBER.
A. add complete information for a customer
B. add only a customer’s name
C. add the customer’s name, address, and telephone number
D. add the customer’s name and telephone number
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
FINAL EXAM—KEY EXAM
5
A. cash sale
B. sale on account until reimbursement is received from a bank
C. sale on account
D. bank deposit
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. Start Interview button
B. Begin button
C. Convert Data button
D. Detailed Start button
A. a calculator
B. adding machine tape
C. a calculator with adding machine tape
D. none of the above
A. Purchase Orders for each item on order
B. items marked to reorder
C. each item a company sells
D. all of the above
A. income
B. cost of goods sold
C. expense
D. asset
recording the bill next month.
A. customize My Preferences for Bills
B. memorize a report
C. memorize a transaction
D. None of the above
FINAL EXAM
6
QUICKBOOKS® 2014: A COMPLETE COURSE
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
A. File Menu
B. QuickBooks Company Preferences screen
C. Activities Menu
D. any of the above
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
Setup have been completed, you use the .
A. Employee Center
B. Employee File
C. Employee Roster
D. Employee Record
A. Sales Journal
B. Purchases Journal
C. Accounts Payable Ledger
D. Payables schedule
A. expense
B. asset
C. liability
D. cost of goods sold
FINAL EXAM—KEY EXAM
7
vendor line .
A. enters the vendor’s name on the line if the name is in the Vendors list
B. displays a list of vendor names
C. displays the Address Info tab for the vendor
D. Indicates you want to type the vendor name completely
A. Payroll & Employees Preferences
B. Employee List
C. Employee Center
D. all of the above
A. the chart of accounts
B. sales
C. the cash account
D. supplies
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
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. all of the above
FINAL EXAM
8
QUICKBOOKS® 2014: A COMPLETE COURSE
A. by clicking My Company icon
B. by customizing the business form
C. by changing Reports & Graphs Preferences
D. by accessing QuickBooks Setup
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
A. Trial Balance
B. Income Statement
C. Profit and Loss Statement
D. Balance Sheet
information for vendors in the .
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
FINAL EXAM—KEY EXAM
9
A. the icon bar
B. QuickBooks Navigator
C. the menu bar
D. the title bar
get 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
account name, it means that the transaction is split between two or more .
A. journals
B. customers
C. accounts or items
D. reports
key.
A. =
B. &
C. $
D. @
FINAL EXAM
10
QUICKBOOKS® 2014: A COMPLETE COURSE
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
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
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
business using .
A. line graphs
B. pie charts
C. bar charts
D. both B and C
FINAL EXAM—KEY EXAM
11
drawing account into the account.
A. Owner’s Equity
B. Net Income
C. Capital
D. Investment
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 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
debits and credits and special columns, QuickBooks uses a(n) to record
sales transactions for accounts receivable.
A. Sales Receipt
B. Credit Card Receipt
C. Invoice
D. Undeposited Transaction Register
FINAL EXAM
12
QUICKBOOKS® 2014: A COMPLETE COURSE
FILL-IN
IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPROPRIATELY
COMPLETES THE SENTENCE.
information for earnings, withholding, and payroll liabilities to be entered for the year–
to-date.
92. A report that you have customized by sizing columns and/or removing columns may
the chart of accounts along with checking and savings accounts.
98. Changes to an inventory quantity may be made by clicking the Inventory Activities
when the purchase is made or the bill is paid.