Question 1

4 out of 4 points

When recording a customer payment from a cash sale, select: A. Create Invoice > Customer Payment > Customer Name Only B. Make Deposit C. Create Sales Receipt > Record Deposits D. Receive Payment > Customer & Job Name
Selected Answer: Correct Answer: Question 2 C. [None Given] C. [None] 0 out of 4 points

When recording a payment from a customer, if the customer does not send the full amount: A. Record the full amount as paid and make a note in the To Do List to follow up with the customer regarding the remainder of the payment B. You can record the partial payment but must leave the funds in the Undeposited Funds account until receiving the full payment C. You must wait until the customer pays the full amount to record the payment D. Enter the amount received in the Amount field in the Customer Payment window

Selected Answer: Correct Answer:

B. [None Given] D. [None]

Feedback: When recording a payment from a customer, if the customer does not send the full amount: Enter the amount received in the Amount field in the Customer Payment window Question 3 4 out of 4 points

Which one of the following activities is not shown in the Vendor section of the Home page? A. Write Checks B. Pay Sales Taxes C. Pay Bills D. Purchase Orders

Selected Answer: Correct Answer: Question 4

A. [None Given] A. [None] 4 out of 4 points

Which one of the following is usually classified as an inventory item?

A. Goods purchased for resale to customers B. Items purchased and the quantity on hand does not need to be tracked C. Items purchased and used by the company such as office supplies D. Items purchased for a specific customer job
Selected Answer: Correct Answer: Question 5 A. [None Given] A. [None] 4 out of 4 points

What QuickBooks activity comes next in this string of business activities: Invoice > Receive Payments > ______ A. Deposit B. Receive Payments C. Pay Bills D. Vendor List
Selected Answer: Correct Answer: Question 6 A. [None Given] A. [None] 4 out of 4 points

Sales in QuickBooks can be recorded with all the following means of payment, except: A. Cash B. Check C. Credit Card D. Purchase Order
Selected Answer: Correct Answer: Question 7 D. [None Given] D. [None] 4 out of 4 points

When a credit sale is recorded on an invoice, QuickBooks records: A. An increase to Sales and a decrease to Accounts Receivable B. An increase to Sales and an increase to Accounts Payable C. An increase to Sales and an increase to Accounts Receivable D. A decrease to Sales and a decrease to Accounts Payable
Selected Answer: Correct Answer: Question 8 C. [None Given] C. [None] 4 out of 4 points

When recording a customer payment from a credit sale, select: A. Create Invoice > Customer Payment > Customer & Job Name B. Make Deposit C. Create Sales Receipt > Record Deposits D. Receive Payment > Customer & Job Name

Selected Answer: Correct Answer: Question 9

D. [None Given] D. [None] 4 out of 4 points

The Purchase Orders window is used to record which one of the following transactions? A. A customer order to purchase goods B. An order to purchase goods from a vendor C. Services received but not yet paid D. Cash purchases of supplies

Selected Answer: Correct Answer: Question 10

B. [None Given] B. [None] 4 out of 4 points

To record a credit sale, select: A. Create Purchase Order B. Sales Receipts C. Create Estimates D. None of the above
Selected Answer: Correct Answer: Question 11 D. [None Given] D. [None] 4 out of 4 points

The Customer List in QuickBooks can be accessed from all of the following except: A. Banking section of the Home page B. Customer section of the Home page C. Customer Menu D. Customer Center
Selected Answer: Correct Answer: Question 12 A. [None Given] A. [None] 4 out of 4 points

Which report summarizes accounts payable balances by the age of the account? A. Accounts Payable Aging Detail B. Accounts Payable Aging Summary C. Purchases by Vendor Summary D. Purchases by Item Summary

Selected Answer: Correct Answer: Question 13

B. [None Given] B. [None] 4 out of 4 points

Which order of tasks is used when purchasing inventory? A. Enter Bills; Pay Bills B. Enter Invoice; Write Check C. Purchase Order; Receive Bill; Pay Bills D. Purchase Requisition; Receive Inventory; Pay Bills
Selected Answer: Correct Answer: Question 14 C. [None Given] C. [None] 4 out of 4 points

The Undeposited Funds account: A. Partial payments received from customers B. Holds funds received but not deposited in the bank C. Funds the company owes vendors D. Petty Cash funds
Selected Answer: Correct Answer: Question 15 B. [None Given] B. [None] 4 out of 4 points

Which one of the following is a vendor transaction? A. Make Deposits B. Receive Customer Payments C. Enter Bills D. Sell Goods to Customers

Selected Answer: Correct Answer: Question 16

C. [None Given] C. [None] 0 out of 4 points

Which of the following activities and QuickBooks window used to record it is incorrect? A. Sell goods and bill customers; Invoice B. Record inventory information; Inventory List C. Record vendor information; Vendor List D. Order goods; Purchase Order

Selected Answer: Correct Answer:

C. [None Given] B. [None]

Feedback: Record inventory information; Inventory List Question 17 4 out of 4 points

Which one of the following activities is not shown in the Customer section of the Home page? A. Make Deposit B. Receive Payments C. Create Estimates D. All of the above
Selected Answer: Correct Answer: Question 18 A. [None Given] A. [None] 4 out of 4 points

To print the Aging of Accounts Receivable report: A. Select Customer Center, Customer & Receivables B. Select Company Center, Customer & Receivables C. Select Report Center, Company & Financials D. Select Report Center, Customer & Receivables
Selected Answer: Correct Answer: Question 19 D. [None Given] D. [None] 0 out of 4 points

To add a new job to the Customer List: A. Select Customer menu, Add Job B. Select Customer Center, New Customer & Job C. Select the Customer List icon from the Customer section of the Home page D. Select Report Center, add Customer
Selected Answer: Correct Answer: A. [None Given] B. [None]

Feedback: To add a new job to the Customer List: Select Customer Center, New Customer & Job Question 20 4 out of 4 points

Which one of the following is a customer transaction? A. Record Customer Information B. Receive Customer Payments C. Sell Goods to Customers D. All the above

Selected Answer: Correct Answer: Question 21

D. [None Given] D. [None] 4 out of 4 points

The Refunds & Credits icon allows you to: A. Record a refund or credit to a vendor account for returned or damaged merchandize B. Record a refund or credit to a customer account for returned or damaged merchandize C. Prepare a billing statement for a customer D. All of the above
Selected Answer: Correct Answer: Question 22 B. [None Given] B. [None] 4 out of 4 points

QuickBooks considers all of the following to be vendors except: A. Financial institutions such as banks B. Tax agencies such as the IRS C. Utility companies D. All of the above are vendors
Selected Answer: Correct Answer: Question 23 D. [None Given] D. [None] 4 out of 4 points

The Purchase Orders window is used to record which one of the following transactions? A. Cash purchases of supplies B. Services received but not yet paid C. An order to purchase goods from a vendor D. A customer order to purchase goods
Selected Answer: Correct Answer: Question 24 C. [None Given] C. [None] 4 out of 4 points

What QuickBooks activity comes next in this string of business activities: Purchase Order > Receive Items > Enter Bills > ______ A. Receive Payments B. Pay Bills C. Deposit D. Vendor List
Selected Answer: Correct Answer: B. [None Given] B. [None]

Question 25

0 out of 4 points

Vendor reports can be accessed in QuickBooks in all of the following ways except: A. Report Center. B. Vendor Center C. Report Menu D. Company Center
Selected Answer: Correct Answer: A. [None Given] D. [None]

Feedback: Vendor reports can be accessed from the Report Center, Vendor Center and Report Menu