NAME KEY
QUICKBOOKS® 2014:
A COMPLETE COURSE
EXAM CHAPTERS 1-4
TRUE/FALSE
ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION
NUMBER.
recording withdrawals.
business.
expenses for the period in order to determine the net income for the period.
account.
duplicate a check in QuickBooks.
menu bar.
EXAM KEY
2
QUICKBOOKS® 2014: A COMPLETE COURSE
down menus.
the form used to record the transaction; it also changes all journal and
account entries for the transaction to reflect the correction.
QuickBooks Home Page, the menu bar, and keyboard shortcuts.
the checking account.
check numbers.
entered automatically when the bank reconciliation is complete.
MULTIPLE CHOICE
WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED
BEFORE THE QUESTION NUMBER.
A. all transactions no matter where they were recorded
B. only those transactions recorded in the General Journal
C. only transactions recorded in account registers
D. only those transactions that have been edited
A. at the beginning of a fiscal period
B. before the end of the fiscal year
C. at any time
D. once established the chart of accounts may not be modified
EXAM CHAPTERS 1-4—KEY EXAM
3
A. a check is written but it is not printed until the bill is due
B. it is entered as a bill
C. a check is written and printed
D. QuickBooks deducts the amount due from the checking account
from the heading of all reports you .
A. change the Report Preferences
B. modify the Header on the individual report
C. it cannot be removed
D. once you remove it from a report header, it never shows up again
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. a calculator
B. adding machine tape
C. a calculator with adding machine tape
D. none of the above
A. after all passwords have been assigned
B. at the beginning of the year
C. by entering a closing transaction
D. at the end of the accounting period to be closed
A. debit
B. invoice
C. sales receipt
D. bank deposit
EXAM KEY
4
QUICKBOOKS® 2014: A COMPLETE COURSE
A. the amount is changed to 0.00
B. the word “Deleted” appears as the Memo
C. it is removed without a trace
D. an invoice cannot be deleted
A. the chart of accounts
B. sales
C. the cash account
D. supplies
A. cash or checks received from customers but not yet deposited in the bank
B. all cash sales
C. the balance of the accounts receivable account
D. none of the above
amounts.
A. Graphs
B. QuickZoom
C. Invoices
D. The Balance Sheet
A. Edit menu
B. Company menu
C. Company Preferences
D. Chart of Accounts
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
A. not at all
B. on the Accounts Payable Graph
C. in the Accounts Payable Register
D. none of the above
EXAM CHAPTERS 1-4—KEY EXAM
5
A. a list of inventory items used for purchases from vendors
B. a list of sales items used for billing
C. both A and B
D. none of the above
year in the account.
A. owner’s capital
B. owner’s investment
C. owner’s net income
D. owner’s equity
A. Trial Balance
B. Income Statement
C. Profit and Loss Statement
D. Balance Sheet
A. is prepared for every balance sheet account
B. contains records of all activity for an account
C. can be used to record transactions
D. all of the above
A. Customer Balance Summary
B. Customer Detail Summary
C. Customer Summary
D. Accounts Receivable Detail
FILL-IN
IN THE SPACE PROVIDED, WRITE THE ANSWER THAT MOST APPROPRIATELY
COMPLETES THE SENTENCE.
42. QuickBooks records transactions on actual business forms. Sales on account are
of the chart of accounts along with checking and savings accounts.
45. A check written to the owner for working in the business is considered a(n)
account.