Acct 216 QuickBooks

Which account below is not an Expense account? *CH2* Utilities Rent Accounts Receivable Advertising

Accounts Receivable

QuickBooks lists include: *CH3* Customer List Vendor List Item List All of the choices are correct

All of the choices are correct

Which report provides information to help in tracking accounts receivable? Multiple Choice Customers with Open Invoices Accounts Receivable Aging Summary Collections Reports All of the choices are correct

All of the choices are correct

Which of the following is a liability? *CH2* Inventory An amount a company owes A resource a company owns Dividends

An amount a company owes

All of the following is one of the four main categories of transactions in QuickBooks except? *CH1* Customers and sales Vendors and expenses Chart of Accounts Banking

Chart of Accounts

The Item List can be accessed from which section of the Home Page? *CH3* Banking Customers Vendors Company

Company

Which one of the following activities is associated with the Customer section of the Home page? *CH1* Pay sales tax Enter bills Create invoices Record inventory received

Create invoices

When a bill is paid using the Pay Bills window, QuickBooks records a journal entry that: *CH3* Debits Checking account, Credits Undeposited Funds Credits Checking account, Debits Accounts Payable Debits Expense account, Credits Accounts Payable Debits Accounts Receivable, Credits Checking account

Credits Checking account, Debits Accounts Payable

Which of the following is a Banking transaction? *CH3* Make deposit Pay employees Enter bills Record payments received from customers

Make deposit

Which of the following QuickBooks features can be used to save a transaction that will be re-used in the future? *CH3* Saved transactions Create icon Repeat transactions Memorized transactions

Memorized transactions

To change a company name in QuickBooks, select the following from the My Shortcuts on the Navigation (Icon) Bar: *CH1* Company > Preferences My Company > Edit Home > Edit > Preferences None of the choices are correct

My Company > Edit

QuickBooks lists include all of the following except: *CH3* Customer List Item List Owner List Vendor List

Owner List

All of the following are one of the four main categories of transactions in QuickBooks except? *CH3* Customers Vendors Banking Owners

Owners

Balance Sheet accounts are also called: *CH2* Permanent accounts Temporary accounts Equity accounts None of the choices are correct

Permanent accounts

Which of the following file types identifies a QuickBooks Backup file? *CH1* QBM QBW QBB QBX

QBB

Which of the following tasks is completed from the Banking section of the Home Page? *CH1* Pay employees Record deposits Enter bills Record payments received from customers

Record deposits

What are the assets? *CH2* Net worth of a company Resources that a company owns with future benefit Amounts paid to owners Amounts owed to others and are future obligations

Resources that a company owns with future benefit

To use a memorized transaction, select: *CH3* Select Lists Menu > Memorized Transaction List Select Navigation Bar > Recurring Transaction List Select Company section of the Home Page > Saved Transactions None of the choices are correct

Select Lists Menu > Memorized Transaction List

The Income Statement: *CH2* lists the accounts and account numbers lists a company's assets Summarizes the results of a company's operations, listing income and expenses Summarizes what a company owns and what it owes

Summarizes the results of a company's operations, listing income and expenses

Income Statement accounts are also called: *CH2* Equity accounts Permanent accounts Temporary accounts None of the choices are correct

Temporary accounts

The onscreen form for recording bills received is accessed from which section of the Home Page: *CH3* Vendors Customers Employees Banking

Vendors

In the Company section of the Home Page, you can: *CH1* Pay bills Record deposits View the Chart of Accounts Enter invoices

View the Chart of Accounts

The Banking section of the Home Page includes which of the following banking transactions? *CH3* Write Checks Enter Bills Pay Bills Receive Payments

Write Checks

Which one of the following activities is not associated with the Employee section of the Home Page? *CH1* Write Checks Pay Payroll Liabilities Process Payroll Forms Enter Time

Write Checks