Chapter 09 Quickbooks

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

Use this report to display the accounts receivable balance: A) A/P Aging Summary. B) Inventory Valuation Summary. C) Account 101 Checking Register. D) A/R Aging Summary.

A/R Aging Summary.

3. QB Cloud __________________________ includes an area for Credit Cards. a. Bank Statement. b. Trial Balance. c. Profit and Loss Statement. d. Statement of Cash Flows. e. None.

Bank Statement.

7. The balance in Account 101 Checking should be the same as the balance on the: a. Bank register. b. Journal. c. Transfer account. d. None. e. All.

Bank register.

Use this window to record vendor payments: A) Receive Payment #. B) Transaction report. C) Accounts Payable register. D) Bill Payment #. E) All of the above.

Bill Payment #.

Asset values and average costs are shown on this report: A) A/R Aging Summary. B) Inventory Valuation Summary. C) Trial Balance. D) Journal E) None of the above.

Inventory Valuation Summary.

2. To make sure you are starting in the correct place in the data, display the: a. October 1 through December 31 Balance Sheet. b. January 1 through January 31 Profit and Loss. c. January 1 through January 31 Trial Balance. d. Transaction register. e. None.

January 1 through January 31 Trial Balance.

To make sure you are starting in the correct place in the data, display the: A) January 1-31 Trial Balance. B) Adjusted Trial Balance. C) February1 Trial Balance. D) December 1-31 Balance Sheet. E) None of the above.

January 1-31 Trial Balance.

In Chapter 9, all transactions occur in the month of: A) November. B) December. C) January. D) October. E) None of the above.

None of the above.

Net income is shown on the following reports: A) Profit and Loss and Balance Sheet. B) Profit and Loss and Inventory Valuation Summary. C) Balance Sheet and A/P Aging Summary. D) A/P Aging Summary and A/R Aging Summary. E) None of the above.

Profit and Loss and Balance Sheet.

8. Identify the primary financial statement that summarizes the Chart of Accounts. a. Profit and Loss. b. Summary reports such as A/R Aging. c. Adjusting entry report. d. Cash Flow forecast. e. None.

Profit and Loss.

9. Which report shows you information on your income and expenses for a specific period? a. Balance Sheet. b. Comparative Budget report. c. Money-out summary. d. Profit and Loss. e. None.

Profit and Loss.

Credit card receipts are entered on this window: A) Invoice. B) Make vendor payment. C) Bill. D) Sales Receipt. E) None of the above.

Sales Receipt.

10. If the Balance Sheet shows $75,000 in assets and $4,000 in liabilities, what is the company's equity? a. $71,000. b. $79,000. c. $81,000. d. $89,000. e. None.

$71,000.

Payments from customers are due within: A) 30 days. B) 15 days. C) 45 days. D) 60 days. E) All of the above.

30 days.

5. If you think an invoice needs to be changed, what report should you look at? a. Balance Sheet. b. Profit and Loss. c. Statement of Cash Flows. d. Audit Log. e. All.

Audit Log.

1. The source documents shown in Chapter 9 include all of the following except: a. Memos. b. Credit card sales. c. Vendor purchases. d. Commons stock. e. All.

Commons stock.

6. How can you check that the date and year used for entering transactions is correct? a. Balance Sheet for February. b. Display recent transactions. c. Profit and Loss for January. d. All. e. None.

Display recent transactions.

The Dashboard displays the same Checking account balance (as of a specific date) as the: A) A/P Aging Summary. B) Transaction Register. C) Inventory Valuation Summary. D) A/R Aging Summary. E) None of the above.

Transaction Register.

4. When recording a credit card sale, select the following: a. Vendors. b. Bill payments. c. Type of credit card. d. + > Invoice. e. None.

Type of credit card.

Purchases of inventory from vendors are payable: A) At the end of the month. B) Within 15 days. C) Within 45 days. D) Within 30 days. E) None of the above.

Within 30 days


Ensembles d'études connexes

Practice for Adaptive Quiz 4: Elimination

View Set

PN Pharmacology Practice Predictor B 2017

View Set

FTC - key points (short version)

View Set