Question 1

QuickBooks Online Plus uses the method of inventory valuation.

Accepted Answer

A) FIFO 
B) Average Cost 
C) Declining Balance 
D) Accelerated Use 
A) FIFO 
B) Average Cost 
C) Declining Balance 
D) Accelerated Use A

Question 2

You must Turn on Payroll in order to access the Payroll Tax Center.

Accepted Answer

A) True 
 B)False  True

Question 3

The Gear icon may be used to access Lists in QuickBooks Online.

Accepted Answer

A) True 
 B)False  True

Question 4

To access a blank invoice, you click the icon.

Accepted Answer

A) Gear 
B) Create (Plus) 
C) Customers 
D) Forms 
A) Gear 
B) Create (Plus) 
C) Customers 
D) Forms

Question 5

You click the Recent Transactions icon to search for a specific invoice.

Accepted Answer

A) True 
 B)False

Question 6

When using QuickBooks Online your data is saved in the Cloud.

Accepted Answer

A) True 
 B)False

Question 7

In order to customize information shown in the Vendors List, you click the icon.

Accepted Answer

A) Show 
B) Settings 
C) New Vendor 
D) Edit 
A) Show 
B) Settings 
C) New Vendor 
D) Edit

Question 8

The Top-Navigation Bar and the Left-Navigation or Alternate Left-Navigation Bars are shown on the .

Accepted Answer

A) Dashboard 
B) Money Bar 
C) Activities Page 
D) Home Page 
A) Dashboard 
B) Money Bar 
C) Activities Page 
D) Home Page

Question 9

You may apply for the Educational Version of QuickBooks Online Plus using your .

Accepted Answer

A) Student Email 
B) A Gmail account established for the program 
C) Either of the above 
D) None of the above 
A) Student Email 
B) A Gmail account established for the program 
C) Either of the above 
D) None of the above

Question 10

In a computerized accounting program, you must record Brought Forward Balances to close the books.

Accepted Answer

A) True 
 B)False

QuickBooks Online Plus uses the method of inventory valuation.

You must Turn on Payroll in order to access the Payroll Tax Center.

The Gear icon may be used to access Lists in QuickBooks Online.

To access a blank invoice, you click the icon.

You click the Recent Transactions icon to search for a specific invoice.

When using QuickBooks Online your data is saved in the Cloud.

In order to customize information shown in the Vendors List, you click the icon.

The Top-Navigation Bar and the Left-Navigation or Alternate Left-Navigation Bars are shown on the .

You may apply for the Educational Version of QuickBooks Online Plus using your .

In a computerized accounting program, you must record Brought Forward Balances to close the books.

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

Focus on Receivables When Providing Services

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

QuickBooks Online Plus uses the method of inventory valuation.

You must Turn on Payroll in order to access the Payroll Tax Center.

The Gear icon may be used to access Lists in QuickBooks Online.

To access a blank invoice, you click the icon.

You click the Recent Transactions icon to search for a specific invoice.

When using QuickBooks Online your data is saved in the Cloud.

In order to customize information shown in the Vendors List, you click the icon.

The Top-Navigation Bar and the Left-Navigation or Alternate Left-Navigation Bars are shown on the .

You may apply for the Educational Version of QuickBooks Online Plus using your .

In a computerized accounting program, you must record Brought Forward Balances to close the books.

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

Focus on Receivables When Providing Services

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