Question 1

The Customer Balance Summary shows the balances for all customers who owe the company money.

Accepted Answer

A) True 
 B)False  True

Question 2

When an invoice is it is removed from the customer's register.

Accepted Answer

A) Voided 
B) Deleted 
C) Edited 
D) Paid 
A) Voided 
B) Deleted 
C) Edited 
D) Paid B

Question 3

In QuickBooks Online, the Accounts Receivable register replaces the Sales Journal.

Accepted Answer

A) True 
 B)False  False

Question 4

The current date is always printed on .

Accepted Answer

A) Customer Balance Detail 
B) Bank Deposit Summary 
C) Transaction List 
D) Journal 
A) Customer Balance Detail 
B) Bank Deposit Summary 
C) Transaction List 
D) Journal

Question 5

A new sales item may be entered when recording a sale on an invoice.

Accepted Answer

A) True 
 B)False

Question 6

Cash is the only payment method accepted for a Cash Sale.

Accepted Answer

A) True 
 B)False

Question 7

When a return is made for a Sales Receipt, a is completed.

Accepted Answer

A) Sales Receipt Return 
B) Credit Memo 
C) Refund Receipt 
D) Voided Transaction 
A) Sales Receipt Return 
B) Credit Memo 
C) Refund Receipt 
D) Voided Transaction

Question 8

A sale on account is recorded on a(n) .

Accepted Answer

A) Invoice 
B) Receive Payment 
C) Sales Receipt 
D) Charge Account Receipt 
A) Invoice 
B) Receive Payment 
C) Sales Receipt 
D) Charge Account Receipt

Question 9

A sale on account means that the sale was paid for at the time of purchase.

Accepted Answer

A) True 
 B)False

Question 10

When a customer on account pays his bill you record a(n) .

Accepted Answer

A) Sales Receipt 
B) Payment Receipt 
C) Credit Memo 
D) Invoice 
A) Sales Receipt 
B) Payment Receipt 
C) Credit Memo 
D) Invoice

The Customer Balance Summary shows the balances for all customers who owe the company money.

When an invoice is it is removed from the customer's register.

In QuickBooks Online, the Accounts Receivable register replaces the Sales Journal.

The current date is always printed on .

A new sales item may be entered when recording a sale on an invoice.

Cash is the only payment method accepted for a Cash Sale.

When a return is made for a Sales Receipt, a is completed.

A sale on account is recorded on a(n) .

A sale on account means that the sale was paid for at the time of purchase.

When a customer on account pays his bill you record a(n) .

An Introduction to Quickbooks Online and Applying for the Educational Trial Version of Quickbooks Online

Create a Company in Quickbooks Online and Activate the Educational Trial Version of Quickbooks Online

Focus on Payables When Providing Services

End-Of-Period Procedures Including Adjusting Entries, Owner Withdrawals and Investments, and Closing Entries

Focus on Receivables When Selling Inventory Items, Use Locations and Classes, Accept Credit Cards for Customer Payments, Collect Sales Tax, Give Customer Sales Discounts, and Record Nsf Checks

Focus on Payables When Purchasing and Paying for Inventory Items, Prepare Purchase Orders, Use a Company Credit Card, Record Purchase and Merchandise Discounts, Make Sales Tax Payments

End-Of-Period Procedures, Make Inventory Adjustments, Prepare Budgets, and Record Closing Entries

Payroll

Payment Methods, Inventory, Reports, and More

Filters

Exam 3: Focus on Receivables When Providing Services

The Customer Balance Summary shows the balances for all customers who owe the company money.

When an invoice is it is removed from the customer's register.

In QuickBooks Online, the Accounts Receivable register replaces the Sales Journal.

The current date is always printed on .

A new sales item may be entered when recording a sale on an invoice.

Cash is the only payment method accepted for a Cash Sale.

When a return is made for a Sales Receipt, a is completed.

A sale on account is recorded on a(n) .

A sale on account means that the sale was paid for at the time of purchase.

When a customer on account pays his bill you record a(n) .

An Introduction to Quickbooks Online and Applying for the Educational Trial Version of Quickbooks Online

Create a Company in Quickbooks Online and Activate the Educational Trial Version of Quickbooks Online

Focus on Payables When Providing Services

End-Of-Period Procedures Including Adjusting Entries, Owner Withdrawals and Investments, and Closing Entries

Focus on Receivables When Selling Inventory Items, Use Locations and Classes, Accept Credit Cards for Customer Payments, Collect Sales Tax, Give Customer Sales Discounts, and Record Nsf Checks

Focus on Payables When Purchasing and Paying for Inventory Items, Prepare Purchase Orders, Use a Company Credit Card, Record Purchase and Merchandise Discounts, Make Sales Tax Payments

End-Of-Period Procedures, Make Inventory Adjustments, Prepare Budgets, and Record Closing Entries

Payroll

Payment Methods, Inventory, Reports, and More

Filters