QB desktop exam

You recorded hundreds of checks using the wrong expense account. (Someone created an account names Machine Rental but you should have used an existing account names Equipment Rental.) How can you quickly get rid of the wrong account (Machine Rental) and change all the checks that included that account to now use the correct account (Equipment Rental)? a. Edit the unwanted account (machine rental) and click the Merge to button. Then select the correct account (equipment rental) to merge into. Click ok. b. Select the correct account, hold down the shift key, and select the account you want to remove. Right-click the selection, and then select merge. c. Use batch edit and quickly change the expense account of each check d. You can't do this quickly. You must edit each check and change the account to equipment rental e. Edit the unwanted account (machine rental). Change the name to match the name you want to merge it into (equipment rental) click save and close. Then click yes when prompted to merge the names.

e - Edit the unwanted account (machine rental). Change the name to match the name you want to merge it into (equipment rental) click save and close. Then click yes when prompted to merge the names.

You receive a bill from your utility company and pay it with a printed check. You need to record these transactions in QuickBooks. Which four actions should you perform in sequence? Move the four actions to the answer area and place them in the correct order. -On the home page, click enter bills and record a bill from the utility company. Then click save and close. -Enter the payment information and at the bottom of the screen select the To be printed check box. Then click Pay selected bills. -From the chart of accounts set up a bank-type account and name it "utilities." -Click file > print forms > checks to print the check -When it's time to pay the bill, click pay bills on the home page and select the utility bill from the list of open bills. - On the home page, click vendors and bills to enter your utilities

1 - On the home page, click enter bills and record a bill from the utility company. Then click save and close. 2 - When it's time to pay the bill, click pay bills on the home page and select the utility bill from the list of open bills. 3 - nter the payment information and at the bottom of the screen select the To be printed check box. Then click Pay selected bills. 4 - Click file > print forms > checks to print the check

You need to restore a company file from a backup. Which three actions should you perform in sequence? Move the three actions to the answer area and place them in the correct order. -Choose open or restore company -Make sure the home page is open -Select restore a backup copy, click next and follow the steps -Click the file menu -On the home page, select restore backup

1 - click the file menu 2 - choose open or restore company 3 - select restore a backup copy, click next and follow the steps

Your company stops selling an item. You need to remove the item from the list. Which four actions should you perform in sequence? Move the four actions to the answer area and place them in the correct order. -From the menu select items > show list -Click the item arrow in the lower-left corner of the item list -Drag the item off the list -From the menu select Lists > Item List -Click the item you want to hide -Select Make Item Inactive -Select Hide Item

1 - from the menu select lists > item list 2 - Click the item you want to hide 3 - Click the item arrow in the lower-left corner of the item list 4 - Select Make Item Inactive

You need to identify the correct forms to use in various customer scenarios. Move each QuickBooks form from the list on the left to the matching customer scenario on the right. Options were estimate, invoice, sales order, sales receipt, statement -The customer buys something and pays for it immediately -The customer wants to buy something, but you don't have it in stock -The customer asks that you quote a price for a service they're thinking about getting -The customer requests a list of their charges and payments made during the last month -You send the customer a list of services and items you're charging them for and a due date for when they need to pay

1. Sales receipt-The customer buys something and pays for it immediately 2. Sales order-The customer wants to buy something, but you don't have it in stock 3. Estimate-The customer asks that you quote a price for a service they're thinking about getting 4. Statement-The customer requests a list of their charges and payments made during the last month 5. Invoice-You send the customer a list of services and items you're charging them for and a due date for when they need to pay

You run a landscaping business. Every day you and your employees work to beautify your town. You use QuickBooks to track your sales. You need to correctly set up the items and services you sell. Move each item type from the right to the left to the matching item or service on the right. Choices: Inventory Assembly, Inventory part, Non-Inventory part, Service -Gardening and tree trimming performed by the hour -Large rock fountains that you buy from a vendor. You track how many of them you have on hand. -Random assortments of wildflower seeds sold by the bag. You don't track how many you keep on hand. -Sprinkler systems made from several different parts - pipes, sprinkler heads and pumps. You track how many of each item you have on hand.

1. Service-Gardening and tree trimming performed by the hour 2. Inventory Part-Large rock fountains that you buy from a vendor. You track how many of them you have on hand. 3. Non-inventory part-Random assortments of wildflower seeds sold by the bag. You don't track how many you keep on hand. 4. Inventory Assembly-Sprinkler systems made from several different parts - pipes, sprinkler heads and pumps. You track how many of each item you have on hand.

You purchase something with a debit card. You need to record your debit card transaction in QuickBooks. Which three actions should you perform in Sequence? Move the three actions to the answer area and place them in the correct order. -Click Save & Close -Enter who you paid, how much, and what it was for (expense account) -Type "Debit" in the number field, then enter who you paid, how much and what it was for (expense account) -On the Home page, click Record Credit Card Charge. -From the chart of accounts, set up a Credit Card type account but name it "Debit Card" -Open the Write checks window.

1. open the write checks window 2. type 'debit' in the number field, then enter who you paid, how much and what it was for (expense account) 3. click save and close

You were hired by a company that has never used QuickBooks for payroll. You need to set up their QuickBooks installation to pay employees. In what order should you perform the actions? Move all the actions to the answer area and place them in the correct order. -Complete the Payroll Setup Interview -Enter employees, taxes, and year to date payroll, if necessary -Create your first paycheck -Start the Payroll Setup Interview -Select a payroll service like Basic, Enhanced or Full Service

1. start the payroll set up interview 2. select a payroll service like basic, enhanced or full service 3. complete the payroll setup interview 4. enter the employees, taxes, and year to date payroll, if necessary 5. create your first paycheck

Your company tracks Accounts Payable. You receive a credit from a vendor. You need to record the vendor credit in QuickBooks. What should you do? a. Click Enter Bills and then click Credit at the top of the bill. b. Enter a journal entry. c. In the Pay Bills window, select Refunds and Credits. d. Click Refunds & Credits on the home page.

a - Click Enter Bills and then click Credit at the top of the bill.

Which three statements about credit memos are true? (choose 3) a. credit memos reduce the overall balance due from a customer b. amounts issued on a credit memo can be issued as a refund to the customer account c. amounts issued on a credit memo can be immediately applied to an open bill from a vendor d. credit memos always increase inventory balances e. amounts issued on a credit memo can be retained in the customer accounts and used to offset a future invoice

a, b, and e

You need to increase the width of a column on a QuickBooks report. What should you do? a. Click the ellipsis to the right of the column, and then drag it to the right. b. Click the Customer Report button, and then the Display tab. Then enter an appropriate column width next to the column name. c. Right-click the column and select Column Width. Then enter an appropriate amount and click Ok. d. You can't change column widths in QuickBooks. Export the report to Excel instead.

a - Click the ellipsis to the right of the column, and then drag it to the right.

What effect does an invoice have on your books? a. Invoices increase Accounts Receivable and usually increase income. b. Invoices increase Accounts Payable and usually increase expenses. c. Invoices decrease Accounts Payable and usually decrease expenses d. Invoices decrease Accounts Receivable and usually increase income.

a - Invoices increase Accounts Receivable and usually increase income.

Which report displays the actions of each individual user in a company file? a. Audit trail b. Run the Transactions List by Date report and then click Customize Report. Select the Last modified by check box, and then click OK. c. There is no report for this, but you can see what each user has done in the window that QuickBooks opens when you select Company > Set up users and passwords d. User log

a - audit trail

Which element is NOT required on a sales receipt? a. items & services sold b. date c. amount of the sale d. customer name

a - items & services sold

Which statement about merging list records is false? a. merging records affects past transactions b. you can merge accounts if they are the same account type c. you can only merge names of the same type d. merging effectively combines records on a list e. you can't merge vendors.

a - merging records affects past transactions

Which statement is true when using QuickBooks in single-user mode? a. only one user can access the company file b. multiple users can access the company file. However, their activities are restricted c. multiple users can access the company file; however, only one transaction can be saved at a time. d. only one user can work within each functional area.

a - only one user can access the company file

The bank notified you that a customer's check bounced due to insufficient funds. You need to accurately record the bounced check and any additional charges in QuickBooks. What should you do? a. open the customer payment and click Record Bounced Check. b. delete the customer's payment from the deposit c. open the customer's invoice and click unapply payment. Then send the customer a statement detailed the reopened invoice and bounced check d. from the home page, click reconcile. During the bank reconciliation, click record bounced check.

a - open the customer payment and click Record Bounced Check. b. delete the customer's payment from the deposit

You work for a consulting company that has just moved and changed its name to reflect a new partner. You need to change the company business name, address, and phone number in QuickBooks. Where should you do this? a. select Company > My Company from the menu b. Select File > Preferences from the menu c. Select File > Change Company Info from the menu d. Select File > EasyStep Interview from the menu

a - select Company > My Company from the menu

When you create a new company file using the Advanced/Detailed Setup (EasyStep interview), QuickBooks asks for your Start Date. Which date is QuickBooks requesting? a. the date you choose to start recording the financial records in QuickBooks. b. the date you installed QuickBooks. c. the date you created the company file. d. the date the company began operating.

a - the date you choose to start recording the financial records in QuickBooks.

What does QuickBooks display when you press the F2 key? a. the product information window, which includes the release and version of QuickBooks b. the advanced setup options window c. a list of shortcuts d. nothing

a - the product information window, which includes the release and version of QuickBooks

Which statement describes how purchase orders help to organize your purchases and inventory receiving? a. they track inventory you receive so you can monitor how much inventory you have on hand. b. they reduce your bank account balance by the amount of the purchase c. without purchase orders you wouldn't be able to enter purchases d. none of the above

a - they track inventory you receive so you can monitor how much inventory you have on hand.

How do you enter opening balances into a new company file during the setup process? a. use the express start (not detailed start) and enter the balances in the enter opening balances wizard b. there isn't a way to do this during set up. An accounting professional can use journal entries and transactions to create opening balances later. c. use the detailed start (not the express start) and enter the balances in the enter opening balances wizard d. after you select create company file select yes next to would you like to enter opening balances?

a - use the express start (not detailed start) and enter the balances in the enter opening balances wizard

Which statement about setting up users is True? a. when setting up a user you must decide between giving them access to all areas of QuickBooks, selected areas of QuickBooks, or making then an External Accountant. b. you MUST purchase a new license for every user in QuickBooks. c. The company must be in multi-user mode to create new users. d. there are four types of users: admin, external accountant, custom user, reports only.

a - when setting up a user you must decide between giving them access to all areas of QuickBooks, selected areas of QuickBooks, or making then an External Accountant.

What is a valid reason for setting up sub-accounts on the Chart of Accounts? a. when you run reports, you can collapse sub-accounts to make the report easier to read. b. QuickBooks only lets you have one income account and one expense account, so to get more detail on reports you must make sub-accounts of those accounts. c. you must create a different sub-account for every product or service you sell. d. you can choose which users have access to each sub-account to limit what they can see on reports

a - when you run reports, you can collapse sub-accounts to make the report easier to read.

Which three customizations can be performed on an invoice template in quickBooks Desktop? (Choose 3) A. Link different default invoice templates to different customers B. Display images of a handwritten thank you and the sender's signature C. Include a picture of each item being sold D. Display a "past due" stamp and a "status" stamp E. Modify the color scheme

a, d, e

It's time to pay the company's Payroll Liabilities. What should you NOT do? a. Select more than one liability to pay at a time from the Pay Taxes & Other Liabilities list in the Payroll Center. b. Use Write Checks to record the payment. c. Run the Payroll Liabilities report d. Pay liabilities less than 10 days before they're due.

b - Use Write Checks to record the payment.

You are setting up a new service item. You need to use this item on purchase forms, such as purchase orders, checks and bills. What should you do? a. Mark the item as billable. b. You don't need to do anything. All service items can be used on purchase orders, checks and bills without any special actions. c. Select the This service is used in assemblies or is performed by a subcontractor or partner check box and then choose an expense account to associates with the item. d. In the Preferred Vendor field, enter the vendor that you'll eventually use on the purchase order, check or bill.

b - You don't need to do anything. All service items can be used on purchase orders, checks and bills without any special actions.

Which statement describes the difference between reports run on the cash basis and reports run on the accrual basis? a. cash basis reports display how much cash a company has on-hand as well as its methods for generating revenue, while accrual basis reports show how much the company needs to pay in taxes. b. accrual basis reports display sales when they-re earned and expenses when they're incurred, regardless of when the money is received or paid. Cash basis reports only show revenue and expenses for money that has been received or paid. c. accrual basis reports show accrued interest on investments and loans while cash basis reports do not. d. accrual basis reports are used to file taxes, but cash basis reports are only ever used for job costing and cash flow forecasts.

b - accrual basis reports display sales when they're earned and expenses when they're incurred, regardless of when the money is received or paid. Cash basis reports only show revenue and expenses for money that has been received or paid.

When should you use the Write Checks form? a. when a vendor gives you a refund check b. anytime you pay for something if the money came from the bank account (e.g. debit card or EFT) and doesn't involve an open bill in QuickBooks. c. when you receive a check payment from a customer d. only when you pay someone with a physical check

b - anytime you pay for something if the money came from the bank account (e.g. debit card or EFT) and doesn't involve an open bill in QuickBooks.

Which report, also known as a Statement of Position, summarizes assets, liabilities and equity? a. cash flow forecast b. balance sheet standard c. net worth summary d. profit & loss statement

b - balance sheet standard

Which accounting basis is used on financial statements that doesn't include Accounts Payable and Accounts Receivable? a. Revenue b. Cash c. Non-inventory d. Expense

b - cash

Which statement about General Journal Entries is False? a. general journal entries require a good understanding of debits and credits and should not be used by non-accountants. b. enter a general journal entry when you're not sure which form to use. c. accountants can use general journal entries to enter depreciation d. accountants can use general journal entries to enter year-end adjustments

b - enter a general journal entry when you're not sure which form to use.

If a report has collapsed, what button un-collapses it? a. show sub-accounts b. expand c. grow d. undo collapse

b - expand

Which of the following is NOT a type of item? a. group b. expense c. discount d. other charge

b - expense

Your new employee earns an hourly wage of $20. You need to enter this into QuickBooks. What should you do? a. on the paycheck, click the Expenses tab. Enter "$20" in the Hourly Rate field and then enter the number of hours they worked. b. in the new employee window, enter "Hourly Rate" as an Earnings item and then enter "$20" in the hourly/annual rate field. c. when entering their hours worked on the timesheet, enter "$20" in the hourly rate field and then the number of hours they worked. QuickBooks uses the amount from the appropriate timesheet when creating the paycheck. d. from the payroll item list, set up a compensation-type item with a name that includes the employee's name or initials. Then enter the amount they earn in the hourly/annual rate field.

b - in the new employee window, enter "Hourly Rate" as an Earnings item and then enter "$20" in the hourly/annual rate field.

After QuickBooks sets up your chart of accounts when creating a new company file, which statement is true? a. new accounts can only be added during the express or detailed start b. it is possible to add more accounts later c. account opening balances cannot be changed d. only income and expense accounts can be added after completing the express start or detailed start.

b - it is possible to add more accounts later

You customize a report. You need to save the customizations so you can easily run the report later. Which button should you use? a. save for later b. memorize c. view report later d. save customizations

b - memorize

Which is a type of item? a. expense b. non-inventory c. asset d. customer

b - non-inventory

Your company wants to track the sales rep associated with each invoice, without displaying the sales rep on the invoice. What should you do? a. open the invoice. Click the formatting tab, and then layout designer. Select the show on screen check box for REP. leave the print for customer check box clear. b. open the invoice. Click the formatting tab, and then customize data layout. Select the screen check box for REP. leave the print check box clear. c. from the customer list, double-click the customer and assign a sales rep to them. Then clear the print on invoice check box. d. this is not possible.

b - open the invoice. Click the formatting tab, and then customize data layout. Select the screen check box for REP. leave the print check box clear.

You need to add money to an employee's paycheck for bonus compensation. What should you do? a. on the paycheck, click the expenses tab and enter the amount of the bonus in the amount field. b. set up a compensation-type payroll item linked to an expense account. Enter the bonus in the earnings section of the employee's paycheck when running payroll. c. set up a bonus-type payroll item to be linked to a liability account. Enter the bonus in the earnings section of the employee's paycheck when running payroll. d. on the paycheck, select the bonus check box and enter the amount of the bonus in the field provided.

b - set up a compensation-type payroll item linked to an expense account. Enter the bonus in the earnings section of the employee's paycheck when running payroll.

You need to deduct money from an employee's paycheck for a garnishment (e.g. child support). What should you do? a. on the paycheck, click the expenses tab and enter the amount of child support as a negative. b. set up and use a deduction-type payroll item and link the item to the appropriate liability account. c. set up and use a deduction-type payroll item and link the item to the appropriate asset account d. set up and use a deduction-type payroll item and link the item to the appropriate expense account

b - set up and use a deduction-type payroll item and link the item to the appropriate liability account.

What are valid reasons for an accountant to enter a general journal entry? a. to make year-end adjustments, correct errors, and to avoid using the built-in forms (e.g. checks and invoices) b. to enter depreciation, make year-end adjustments, and correct errors c. To enter depreciation, make year-end adjustments, correct errors, and to avoid using the built-innn forms (e.g. checks and invoices) d. to make depreciation, make year-end adjustments, and to avoid using the built-in forms (e.g. checks and invoices)

b - to enter depreciation, make year-end adjustments, and correct errors

Which statement about deleting items from lists is True? a. you can delete a record if you enter the allow changes password set up in the accounting preferences b. you can delete a record from a list if it has no balance, it has not been used, and is not linked to anything that has been used. c. you CANNOT delete a record from a list. d. You can delete a record from a list if it has NOT been used in a prior financial year

b - you can delete a record from a list if it has no balance, it has not been used, and is not linked to anything that has been used.

Which statement about items is False? a. Items let you set up default sale and purchase prices for the products and services you sell. b. When you purchase or sell an item, the value of the purchase or sale flows to the specified account you selected when you set up the item. c. QuickBooks requires the use of items when recording a check. d. You can change the description and price associated with an item on individual sales and purchase transactions.

c - QuickBooks requires the use of items when recording a check.

Yesterday, you paid Bruce's Office Machines $250 for Office Repairs with check number 517. You recorded the check in quickBooks. Bruce's dog ate the check and you need to replace it. What should you do in QuickBooks? a. Enter a bill for the amount of the original check, then pay the bill using a new check. b. create a reversing journal entry for the original check, debiting accounts payable and crediting the credit card. c. Void or delete the original check, then create a new check to Bruce with the original details. d. Use the Bounced Check feature to reverse the check, then create a new check to Bruce with the original details.

c - Void or delete the original check, then create a new check to Bruce with the original details.

Which statement best describes an Accountant's Copy? a. a read-only file that does not allow any changes, but an accountant can use to file taxes b. a special copy of a company file that only contains transactions from a specified time period. c. a special copy of a company file that can be sent to an accountant, so they can enter/edit transactions without disturbing the normal use of the company file d. a version of QuickBooks Premier that is sole only to Certified Public Accountants

c - a special copy of a company file that can be sent to an accountant, so they can enter/edit transactions without disturbing the normal use of the company file

You need to create your own unique fields for customers and vendors. What should you do? a. click lists > define fields and then enter a new list option b Click customize on the report you need to see the data on and then check the column you want to see in the columns section c. click the additional info tab on a customer or vendor and then click define fields d. click the drop-down arrow in a field on the customer or vendor's record and then select add new

c - click the additional info tab on a customer or vendor and then click define fields

What is a key benefit of setting a closing date? a. setting a closing date keeps the company file from becoming too large. b. without closing dates you wouldn't be able to use QuickBooks to file taxes. c. closing dates help to preserve historical data from previous accounting periods. d. setting a closing date moves net income into retained earnings so that each year will have its own net income on the profit & loss and balance sheet.

c - closing dates help to preserve historical data from previous accounting periods.

What can you NOT do from the Report Center? a. see a preview of what the report will look like b. search for reports c. delete standard reports from QuickBooks d. Run reports contributed by other users and by Intuit.

c - delete standard reports from QuickBooks

What are the three sections of the Profit & Loss statement? a. earnings, revenue and expenses b. assets, liabilities and equity c. income, cost of goods sold and expenses d. income, costs of good sold and equity

c - income, cost of goods sold and expenses

Which QuickBooks feature keeps track of when payroll needs to be run, and the days included in each pay period? a. payroll cycle b. timesheets c. payroll schedule d. payroll wizard

c - payroll schedule

Which report is one of the two primary financial statements that summarize the Chart of Accounts? a. chart of accounts summary b. depreciation statement c. profit & loss d. cash flow forecast

c - profit and loss

Which term describes the act of comparing a bank statement or credit card statement to the transactions in QuickBooks and identifying/fixing differences? a. sending an accountant's copy b. entering a closing date c. reconciling d. balancing an account

c - reconciling

You need to create a report that compares your company's income and expenses for the current year to that of the previous year. What should you do? a. run the profit & loss standard report and set the date to this fiscal YTD and previous YTD. b. run the profit & loss standard report and set the date to this fiscal YTD. Then in the columns list, select years. c. run the profit & loss standard report and set the date to this fiscal YTD. Click customize report. On the display tab, select the previous year check box. d. run the balance sheet standard report and set the date to this fiscal YTD. Click customize report and filters. Edit the date filter to include last year.

c - run the profit & loss standard report and set the date to this fiscal YTD. Click customize report. On the display tab, select the previous year check box.

Which invoice element can you NOT customize? a. the company logo b. the fields that appear on the printed invoice c. the amount of information (number of characters) you can type in each field d. the fields that appear on the screen when someone creates an invoice

c - the amount of information (number of characters) you can type in each field

When you record a Sales Receipt, where is the customer's payment recorded? a. your bank account b. deposited funds c. undeposited funds d. the account you select in the Send payment t list.

c - undeposited funds

You need to create a memorized report that lists customers and jobs, one per row, with the following columns. Customer, Main Phone, State and Balance (for the customer or job in total). Which two reports can you use as starting points? (Choose 2) a. Transaction List by Customer b. Open Invoices C. Customer Contact List D. Customer Phone List

c, d

You suspect that a new paycheck item has been linked to the wrong expense account. Which three actions should you perform? (Choose 3) a. Delete the paychecks that use the item and then recreate them. b. Add the correct expense account to the Chart of Accounts. c. Update all transactions that use the paycheck item. d. Change the expense account linked to the paycheck item. e. Edit the paycheck item from the Payroll Item List f. Update the expense account mapping from the Chart of Accounts.

c, d, e

What are the advantages to entering a closing date? a. You can restrict which users can edit transactions in a closed period. b. QuickBooks warns you if you try to alter a transaction from a closed period or enter a new transaction in a closed period. c. You can assign a password to a closed period so that only those with the password can make changes to data in closed periods. d. All of the above.

d - All of the above.

You are setting up a new QuickBooks user account To which items can you restrict the user's access? a. Sales and receivables b. Checking and credit cards c. Sensitive accounting activities d. All the above

d - All the above

You need to create a new company file. To save time, you want to keep all the lists and preferences from the old company file and just delete the transactions. What should you do? a. on the edit menu, select delete all transactions b. create a new company and select copy settings from another company in the EasyStep Interview c. you can't do this in QuickBooks d. Click the File menu and select Utilities > Condense Data from the menu. Then choose the All transactions options.

d - Click the File menu and select Utilities > Condense Data from the menu. Then choose the All transactions options.

On no! Your computer's hard drive crashed, and you've lost your company file! Relax, you did back up your company data in a separate location. After installing QuickBooks onto your computer, how do you get your backup onto the new computer? a. Select File > New Company then select Create from Backup b. Select file > Utilities > convert Backup File c. Select File > Open Previous Company (you must be connected to the internet to access the automatic copy of your company that is stored in the cloud) d. Select File > Open or Restore Company

d - Select File > Open or Restore Company

Which statement about single-user and multi-user mode is False? a. if other users can't access, select File > Switch to Multi-user mode b. To use QuickBooks in multi-user mode, any user can log in to the same file if their version of QuickBooks is at most 3 years older than QuickBooks used by the administrator. c. The Administrator does NOT have to be logged in for other users to be in the company file d. There are some restrictions when using QuickBooks in multi-user mode.

d - There are some restrictions when using QuickBooks in multi-user mode.

What can you do in the Process Multiple Reports window? a. Display multiple reports b. Print multiple reports c. Email multiple reports d. All the above

d - all of the above

Which transactions can you memorize in QuickBooks? a. checks b. invoices c. sales receipts d. all the above

d - all of the above

Why might you need to restore a company file? a. to review your company data as it stood in an earlier period. b. the company file on your hard drive is damaged or corrupted. c. the computer's hard drive is damaged. d. all the above

d - all of the above

When you run a Profit & Loss on the cash basis, what does quickBooks include as income? a. all sales entered with accrual invoice entries b. all sales recorded with statement charges c. all sales recorded with invoices d. all sales recorded with sales receipts

d - all sales recorded with sales receipts

A subcontractor completes work and issues you an invoice. Which form should you use to record the invoice? a. credit memo b. accounts payable c. invoice d. bill

d - bill

You need to move the name of a customer in the Customer Center from the top of the list to the bottom of the list, WITHOUT renaming the customer. What should you do? a. right-click the name and then select move customer up/down b. click to the right of the name, then drag the name to the bottom of the list. c. point to the right of the name until the pointer changes to a vertical double-headed arrow. Then drag the name to the bottom of the list. d. click the diamond to the left of the customer's name and then drag the name to the bottom of the list.

d - click the diamond to the left of the customer's name and then drag the name to the bottom of the list.

Which type of transactions can NOT be memorized in QuickBooks? a. invoices b. bill payments c. journal entries d. deposits

d - deposits

Which statement about reports is True? a. every user has access to the same reports b. you can change the default settings for reports through the edit > preferences menu c. all reports have the same customization options d. if you click customize report and make changes to a report, every time you run the report later it will have those same changes.

d - if you click customize report and make changes to a report, every time you run the report later it will have those same changes.

Which type of form templates can be customized in quickBooks? a. bill b. deposit c. check d. invoice

d - invoice

When a company collects deductions and withholdings from employees' paychecks, whatkind of account does QuickBooks use to track the amount of money that was deductd? a. payroll expense b. asset c. expense d. liability

d - liability

What is a good reason to create a new company file? a. to start recording transactions for a new year because each file tracks only one fiscal year b. the current company file has reached the limit of 5,000 transactions. c. the current company file has reached the limit of 1,000 transactions. d. none of the above

d - none of the above

You sent a QuickBooks report to Excel and made some changes. Which statement about importing the changes back into QuickBooks is true? a. the formulas or calculations you entered in Excel are imported as values only b. use the import from excel wizard to complete this process and avoid errors c. quickbooks supports only a few statistical functions from Excel (e.g. SUM) d. None of the above

d - none of the above

You need to find an invoice in QuickBooks. Which method can you NOT use to do so? a. Select edit > find from the menu b. Use the search field on the Navbar c. Open an invoice and click the Find button d. select customers > Find invoice from the menu

d - select customers > Find invoice from the menu

What can you do from the QuickBooks tab in Excel? a. import more QuickBooks reports into the excel workbook b. export changes you've made in a report in excel to QuickBooks so that you can see updated formulas and graphs in QuickBooks. c. close the connection between excel and QuickBooks. d. update the information on the excel report with new information from QuickBooks

d - update the information on the excel report with new information from QuickBooks

Which statement about vendor credit memos is false? a. vendor credit memos are entered in the same window as bills. b. vendor credit memos reduce what you owe the vendor. c. the vendor that issues you a vendor credit memo must be on your vendors list d. vendor credit memos must be used when vendors refund you money.

d - vendor credit memos must be used when vendors refund you money.

You pay someone for hourly work but do NOT issue them a W-2. Which list should you add this person to? a. employees b. subcontractors/1099 c. other names d. vendors

d - vendors

What is a valid reason to export a report to excel? a. you cannot change the size of fonts or numbers in QuickBooks. You can only change those values by exporting it to Excel and changing them there. b. if you want to email a report, you must export it to excel first. c. you can't save reports in QuickBooks, so you must export them to excel if you want to run them again later. d. you can perform calculations and apply more filters in excel than you can in quickBooks.

d - you can perform calculations and apply more filters in excel than you can in quickBooks.