Question 1

The Pay bills window can be used to:

Accepted Answer

A) Keep track of accounts payable 
B) Keep track of inventory 
C) Keep track of non-inventory items 
D) Keep track of your outstanding checks 
A) Keep track of accounts payable 
B) Keep track of inventory 
C) Keep track of non-inventory items 
D) Keep track of your outstanding checks A

Question 2

Subaccounts:

Accepted Answer

A) Help to show various account groups in one separate section 
B) Help to keep track of finances by grouping and subtotaling categories 
C) Improves efficiency in your system 
D) Do not exist in QuickBooks 
A) Help to show various account groups in one separate section 
B) Help to keep track of finances by grouping and subtotaling categories 
C) Improves efficiency in your system 
D) Do not exist in QuickBooks B

Question 3

How many names can be placed on the Names List in QuickBooks Pro?

Accepted Answer

A) unlimited 
B) 4,500 
C) 14,500 
D) 25,000 
A) unlimited 
B) 4,500 
C) 14,500 
D) 25,000 C

Question 4

How can you backup data in QuickBooks?

Accepted Answer

A) You should never backup data. 
B) Data can be backed up manually,automatically or scheduled. 
C) Only the administrator can back up data. 
D) All the choices are correct. 
A) You should never backup data. 
B) Data can be backed up manually,automatically or scheduled. 
C) Only the administrator can back up data. 
D) All the choices are correct.

Question 5

Where do you find the Balance Sheet and Profit and Loss statements?

Accepted Answer

A) Accounting reports 
B) Employee reports 
C) Company and Financial 
D) Other reports 
A) Accounting reports 
B) Employee reports 
C) Company and Financial 
D) Other reports

Question 6

What type of inventory requires assembly from other items before sale?

Accepted Answer

A) Inventory Assembly 
B) Inventory Group 
C) Inventory Parts and Supplies 
D) Non-inventory Assembly 
A) Inventory Assembly 
B) Inventory Group 
C) Inventory Parts and Supplies 
D) Non-inventory Assembly

Question 7

What are items used for?

Accepted Answer

A) An item can be used to create an invoice. 
B) An item can help to track your sales in detail. 
C) An item can represent various goods or services. 
D) All the choices are correct. 
A) An item can be used to create an invoice. 
B) An item can help to track your sales in detail. 
C) An item can represent various goods or services. 
D) All the choices are correct.

Question 8

Which type of paycheck style do employees typically prefer?

Accepted Answer

A) Wallet 
B) Electronic 
C) Deluxe 
D) Voucher 
A) Wallet 
B) Electronic 
C) Deluxe 
D) Voucher

Question 9

If you open the Memorized Report List and then click Memorized Report > New Group,what are you creating?

Accepted Answer

A) A list of memorized files 
B) A memorized group of reports that are useful to your business 
C) Information needed by the IRS on a quarterly basis 
D) Item Lists 
A) A list of memorized files 
B) A memorized group of reports that are useful to your business 
C) Information needed by the IRS on a quarterly basis 
D) Item Lists

Question 10

List management includes:

Accepted Answer

A) Adding/deleting 
B) Merging 
C) Editing 
D) All the choices are correct 
A) Adding/deleting 
B) Merging 
C) Editing 
D) All the choices are correct

Question 11

Once a company is set up,how can the name and address be edited?

Accepted Answer

A) Go to Accountant Menu > Client Data Review 
B) Choose Edit company information 
C) Go to Company Menu > My Company > Edit 
D) Go to Edit Menu > Preferences > General 
A) Go to Accountant Menu > Client Data Review 
B) Choose Edit company information 
C) Go to Company Menu > My Company > Edit 
D) Go to Edit Menu > Preferences > General

Question 12

If you need to enter a vendor credit,where do you begin?

Accepted Answer

A) Customers List 
B) Employees List 
C) Enter bill 
D) Banking center 
A) Customers List 
B) Employees List 
C) Enter bill 
D) Banking center

Question 13

In completing the Easy Step Interview,which start date do you use?

Accepted Answer

A) The current date 
B) The date the company formed 
C) The date you begin using QuickBooks to keep track of the company's finances 
D) The first date in the current fiscal year. 
A) The current date 
B) The date the company formed 
C) The date you begin using QuickBooks to keep track of the company's finances 
D) The first date in the current fiscal year.

Question 14

How much do you charge a delinquent customer who "bounces" a check payable to you?

Accepted Answer

A) The amount of the invoice 
B) The amount of the NSF fee 
C) Additional fees (if any) 
D) All the choices are correct 
A) The amount of the invoice 
B) The amount of the NSF fee 
C) Additional fees (if any) 
D) All the choices are correct

Question 15

How do you handle the case when a customer's check is returned for non-sufficient funds?

Accepted Answer

A) Record it in purchases journal 
B) Make an entry to record the money owed and an equal decrease in cash 
C) Write it off as an uncollectible account 
D) All the choices are correct 
A) Record it in purchases journal 
B) Make an entry to record the money owed and an equal decrease in cash 
C) Write it off as an uncollectible account 
D) All the choices are correct

Question 16

The two types of statements in QuickBooks are:

Accepted Answer

A) Open Transaction and Closed Transaction 
B) Open Transaction and Activity Based 
C) Open Transaction and Limited Transaction 
D) Customer Based and Confidential 
A) Open Transaction and Closed Transaction 
B) Open Transaction and Activity Based 
C) Open Transaction and Limited Transaction 
D) Customer Based and Confidential

Question 17

When a customer pays cash at the time of sale,what do you record?

Accepted Answer

A) A sales receipt 
B) An invoice 
C) A purchase order 
D) A thank you note 
A) A sales receipt 
B) An invoice 
C) A purchase order 
D) A thank you note

Question 18

If you see diamonds on lists,what does this indicate?

Accepted Answer

A) You can't move the item on the list. 
B) There are secure transactions affecting this item. 
C) This item cannot be changed. 
D) The diamond can be clicked to move the item to a different place on the list. 
A) You can't move the item on the list. 
B) There are secure transactions affecting this item. 
C) This item cannot be changed. 
D) The diamond can be clicked to move the item to a different place on the list.

Question 19

What does Edit > Memorize Check permit you to do?

Accepted Answer

A) Change your preferences 
B) Automate the same transaction each month 
C) Ensure you do not overdraw your account as it prevents you from paying bills if the balance does not cover the check 
D) None of the choices are correct 
A) Change your preferences 
B) Automate the same transaction each month 
C) Ensure you do not overdraw your account as it prevents you from paying bills if the balance does not cover the check 
D) None of the choices are correct

Question 20

The layout designer allows you to:

Accepted Answer

A) Change the background of your home screen 
B) Change the design and location of items on your invoice 
C) Only change one item per fiscal period 
D) Change from cash to accrual basis of accounting 
A) Change the background of your home screen 
B) Change the design and location of items on your invoice 
C) Only change one item per fiscal period 
D) Change from cash to accrual basis of accounting

The Pay bills window can be used to:

Subaccounts:

How many names can be placed on the Names List in QuickBooks Pro?

How can you backup data in QuickBooks?

Where do you find the Balance Sheet and Profit and Loss statements?

What type of inventory requires assembly from other items before sale?

What are items used for?

Which type of paycheck style do employees typically prefer?

If you open the Memorized Report List and then click Memorized Report > New Group,what are you creating?

List management includes:

Once a company is set up,how can the name and address be edited?

If you need to enter a vendor credit,where do you begin?

In completing the Easy Step Interview,which start date do you use?

How much do you charge a delinquent customer who "bounces" a check payable to you?

How do you handle the case when a customer's check is returned for non-sufficient funds?

The two types of statements in QuickBooks are:

When a customer pays cash at the time of sale,what do you record?

If you see diamonds on lists,what does this indicate?

What does Edit > Memorize Check permit you to do?

The layout designer allows you to:

Navigation and Settings

Chart of Accounts

Transactions

Banking

Customers and Sales

Vendors and Expenses

Inventory

Employees and Payroll

Adjustments

Reports

Service Company

Merchandise Company

Features for Accountants

Desktop Versus Quickbooks Online

Filters

Exam 15: Review Guide

The Pay bills window can be used to:

Subaccounts:

How many names can be placed on the Names List in QuickBooks Pro?

How can you backup data in QuickBooks?

Where do you find the Balance Sheet and Profit and Loss statements?

What type of inventory requires assembly from other items before sale?

What are items used for?

Which type of paycheck style do employees typically prefer?

If you open the Memorized Report List and then click Memorized Report > New Group,what are you creating?

List management includes:

Once a company is set up,how can the name and address be edited?

If you need to enter a vendor credit,where do you begin?

In completing the Easy Step Interview,which start date do you use?

How much do you charge a delinquent customer who "bounces" a check payable to you?

How do you handle the case when a customer's check is returned for non-sufficient funds?

The two types of statements in QuickBooks are:

When a customer pays cash at the time of sale,what do you record?

If you see diamonds on lists,what does this indicate?

What does Edit > Memorize Check permit you to do?

The layout designer allows you to:

Navigation and Settings

Chart of Accounts

Transactions

Banking

Customers and Sales

Vendors and Expenses

Inventory

Employees and Payroll

Adjustments

Reports

Service Company

Merchandise Company

Features for Accountants

Desktop Versus Quickbooks Online

Filters