ACCT 463 CHPT 2 SB

If screens shown in the textbook's step-by-step instructions differ: a. b. c.

Go online to www.mhhe.com/qbo3e > Text Updates

The correct Detail Type for account #115 Merchandise Inventory is ________

Inventory

True or False The access rights may never be limited.

False

On the Chart of Accounts, the detail type column categorizes each account in accordance with ______ ______ _____ ______

Generally Accepted Accounting Principles

When Account and Settings are changed, the selections could add accounts to the: a. Account list b. Company settings c. Create menu d. Navigation bar

a. Account list

Access to all features and capabilities of QBO a. Company administrator b. Time tracking online c. Regular or custom user d. Master administrator

a. Company administrator

How do you change an account's Detail Type? a. On the account row, select view register > edit b. the detail type cannot be changed c. Delete the account, redo its detail type d. Accounts can only be changed after posting to the general ledger

a. On the account row, select view register > edit

The illustrations on the Dashboard provide an overview of: a. Profit and loss, revenue, and expenses b. System requirements c. Chart of accounts

a. Profit and loss, revenue, and expenses

In subsequent chapters, Account and Settings are: a. Saved b. Checked c. Matched to the financial statements d. None of the above.

b. Checked

The Create menu is organized by: a. Reports b. Modules c. Account names d. Journal entries

b. Modules

Access to timesheets and time reports only a. Company administrator b. Time tracking online c. Regular or custom user d. Master administrator

b. Time tracking online

It is vital to categorize the account detail type to ensure each account is correctly positioned on the: a. Check Register b. Navigation Pane c. Financial statements d. Create Menu

c. Financial statements

Ordinary user. May have either access to all features or may only have limited access to certain features. Some administrative capabilities may be granted. a. Company administrator b. Time tracking online c. Regular or custom user d. Master administrator

c. Regular or custom user

When a change is made to a previously recorded transaction, the Audit Log will not only display the date the change was made, but also: a. The future date of any planned changes. b. The original date the related accounts were added. c. The date the transaction was originally recorded d. The date of the financial statements

c. The date the transaction was originally recorded

When Account and Settings are changed, the selections could add accounts to the: a. Create menu b. Navigation bar c. Company settings d. Account list

d. Account list

What are the menu commands to verify subscription status? a. Click the Plus sign > Estimate b. Click the Gear icon > All Lists c. Click the Gear icon > Manage Users d. Click the Gear icon > Account and Settings

d. Click the Gear icon > Account and Settings

What feature in QuickBooks Online allows professors access to view the information from the company that is set up in Chapter 2. a. View company option b. Navigation pane c. Dashboard d. Invite accountant

d. Invite accountant

All access rights of a company administrator. Initially, it's the user who created the company. a. Company administrator b. Time tracking online c. Regular or custom user d. Master administrator

d. Master administrator

Another way to describe Account and Settings is: a. Company profile b. Create menu c. Notifications d. Preferences

d. Preferences

To assist with an understanding of changes to the QBO interface, what icon is for self-help? a. Magnifying-glass b. Gear c. Plus d. Question mark

d. Question mark

The _______ appears when a user signs into QuickBooks Online.

dashboard

In an effort to prevent fraud, regularly checking the Audit Log should be included in the company's ________ ________

internal controls

Easy access to important features and pages is provided by selections on the ___________

navigation bar

In QuickBooks Online, Account and Settings may also be referred to as _________

preferences

For issues that may arise with QuickBooks Online, use ______

self help

Due to automatic updates, the _____ _____ may periodically change without warning

user interface

True or False Account and Settings selections change transaction pages such as bills, sales, receipts, invoices, etc.

True

True or False The selection included on the navigation bar may change due to updates to QuickBooks Online.

True