Question 1

QBO shows the Discount after Sales Taxes.

Accepted Answer

A) True 
 B)False  True

Question 2

When recording an NSF check, you include charges for________ .

Accepted Answer

A) Original Invoice 
B) Bank Fees 
C) Company Fees for NSF Checks 
D) All of the above 
A) Original Invoice 
B) Bank Fees 
C) Company Fees for NSF Checks 
D) All of the above D

Question 3

A company logo can be added to the company file and will appear on the Home Page and on Business Forms.

Accepted Answer

A) True 
 B)False  True

Question 4

Credit Cards must be entered as a(n)_______ before they may be accepted in a transaction.

Accepted Answer

A) Product/Service Item 
B) Account 
C) Payment Method 
D) Company Setting 
A) Product/Service Item 
B) Account 
C) Payment Method 
D) Company Setting

Question 5

The FIFO method of inventory valuation uses_________ .

Accepted Answer

A) Average Cost 
B) Last in, First out 
C) First in, First out 
D) First in, Last out 
A) Average Cost 
B) Last in, First out 
C) First in, First out 
D) First in, Last out

Question 6

In the text, sales tax is charged on all inventory/product items.

Accepted Answer

A) True 
 B)False

Question 7

Payment methods allowed in QBO include: Credit Cards, eCheck, ACH transfers and EFT transfers.

Accepted Answer

A) True 
 B)False

Question 8

When a returned item has been paid for, a Credit Memo is recorded.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following, regarding Sales Taxes in QBO, is true?

Accepted Answer

A) QBO uses destination-based sourcing for determining the location used when calculating sales taxes 
B) Sales taxes owed can be viewed in the Sales Tax Center when it is time to pay the sales taxes due 
C) Sales tax calculations in QBO cannot be overridden 
D) All of the above are true 
A) QBO uses destination-based sourcing for determining the location used when calculating sales taxes 
B) Sales taxes owed can be viewed in the Sales Tax Center when it is time to pay the sales taxes due 
C) Sales tax calculations in QBO cannot be overridden 
D) All of the above are true

Question 10

In the text, Venice is categorized as a ________.

Accepted Answer

A) Location 
B) Class 
C) Main Office 
D) Both A and B 
A) Location 
B) Class 
C) Main Office 
D) Both A and B

QBO shows the Discount after Sales Taxes.

When recording an NSF check, you include charges for________ .

A company logo can be added to the company file and will appear on the Home Page and on Business Forms.

Credit Cards must be entered as a(n)_______ before they may be accepted in a transaction.

The FIFO method of inventory valuation uses_________ .

In the text, sales tax is charged on all inventory/product items.

Payment methods allowed in QBO include: Credit Cards, eCheck, ACH transfers and EFT transfers.

When a returned item has been paid for, a Credit Memo is recorded.

Which of the following, regarding Sales Taxes in QBO, is true?

In the text, Venice is categorized as a ________.

Introduction to Quickbooks Online Plus

Create a Company

Sales and Receivables: Service Items

Payables and Purchases: Service Items

General Accounting and End-Of-Period Procedures

Payables and Purchases: Inventory, Bills, Payments, and Discounts

General Accounting, Inventory Adjustments, Pay Sales Taxes, Budgets, and End-Of-Period Procedures

Payroll

Accounting and Business Management FAQs

Filters

Exam 6: Sales and Receivables: Productsinventory and Service Items, Sales Tax, and Discounts

QBO shows the Discount after Sales Taxes.

When recording an NSF check, you include charges for________ .

A company logo can be added to the company file and will appear on the Home Page and on Business Forms.

Credit Cards must be entered as a(n)_______ before they may be accepted in a transaction.

The FIFO method of inventory valuation uses_________ .

In the text, sales tax is charged on all inventory/product items.

Payment methods allowed in QBO include: Credit Cards, eCheck, ACH transfers and EFT transfers.

When a returned item has been paid for, a Credit Memo is recorded.

Which of the following, regarding Sales Taxes in QBO, is true?

In the text, Venice is categorized as a ________.

Introduction to Quickbooks Online Plus

Create a Company

Sales and Receivables: Service Items

Payables and Purchases: Service Items

General Accounting and End-Of-Period Procedures

Payables and Purchases: Inventory, Bills, Payments, and Discounts

General Accounting, Inventory Adjustments, Pay Sales Taxes, Budgets, and End-Of-Period Procedures

Payroll

Accounting and Business Management FAQs

Filters