Question 1

The types of accounts that may be reconciled are .

Accepted Answer

A) Assets 
B) Liabilities 
C) Equity 
D) All of the above 
A) Assets 
B) Liabilities 
C) Equity 
D) All of the above

Question 2

The report shows details for each paycheck created and includes total wages, taxes withheld, and deductions.

Accepted Answer

A) Tax Liability 
B) Payroll Summary 
C) Employee Details 
D) Payroll Billing Summary 
A) Tax Liability 
B) Payroll Summary 
C) Employee Details 
D) Payroll Billing Summary

Question 3

QuickBooks Online automatically transfers Net Income into Retained Earnings at the end of the year.

Accepted Answer

A) True 
 B)False

Question 4

The mouse is used to click on a keyboard shortcut.

Accepted Answer

A) True 
 B)False

Question 5

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

Question 6

To see every transaction in Debit/Credit format, you prepare a report.

Accepted Answer

A) Customer Balance Detail 
B) Transaction List 
C) Trial Balance 
D) Journal 
A) Customer Balance Detail 
B) Transaction List 
C) Trial Balance 
D) Journal

Question 7

You click the Pay Taxes button in the in order to pay taxes.

Accepted Answer

The answer of You click the Pay Taxes button in...

Question 8

To pay sales tax, you click the Plus icon and Checks and then write the check.

Accepted Answer

A) True 
 B)False

Question 9

You may access the Inventory Quantity Adjustment form by and clicking .

Accepted Answer

A) Clicking Plus icon, Inventory Qty Adjustment in the Other column 
B) Opening the item in the Products and Services List, Quantity 
C) Clicking the drop-down list arrow in the item's Action column in the Products and Services List, Adjust Quantity 
D) All of the above 
A) Clicking Plus icon, Inventory Qty Adjustment in the Other column 
B) Opening the item in the Products and Services List, Quantity 
C) Clicking the drop-down list arrow in the item's Action column in the Products and Services List, Adjust Quantity 
D) All of the above

Question 10

Depreciation is recorded for the decrease in value of a fixed asset.

Accepted Answer

A) True 
 B)False

Question 11

When a customer qualifies for an early payment discount, the discount is recorded .

Accepted Answer

A) In the Sales Discount register 
B) As a Journal entry 
C) On a new Invoice 
D) On the original Invoice 
A) In the Sales Discount register 
B) As a Journal entry 
C) On a new Invoice 
D) On the original Invoice

Question 12

You may create Payroll Schedules in Payroll Settings.

Accepted Answer

A) True 
 B)False

Question 13

QuickBooks Online uses the cash-basis of accounting by default.

Accepted Answer

A) True 
 B)False

Question 14

To erase all information entered by QuickBooks during the activation of QuickBooks Online, you all information.

Accepted Answer

A) Edit 
B) Purge 
C) Transfer 
D) Import 
A) Edit 
B) Purge 
C) Transfer 
D) Import

Question 15

The report that you prepare to determine which bills to pay is the report.

Accepted Answer

A) Expenses List 
B) Vendor Balance Detail 
C) Bill Payment List 
D) Unpaid Bills 
A) Expenses List 
B) Vendor Balance Detail 
C) Bill Payment List 
D) Unpaid Bills

Question 16

Where do you record the 2% discount for early payment of a bill?

Accepted Answer

A) Enter it on the bill 
B) Prepare a Vendor Credit 
C) Change the amount of the bill payment check 
D) Any of the above 
A) Enter it on the bill 
B) Prepare a Vendor Credit 
C) Change the amount of the bill payment check 
D) Any of the above

Question 17

A credit card purchase is recorded on a(n) form.

Accepted Answer

A) Invoice 
B) Bill 
C) Expense 
D) Credit Card 
A) Invoice 
B) Bill 
C) Expense 
D) Credit Card

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Supported browsers for QuickBooks Online include .

Accepted Answer

A) Chrome 
B) Internet Explorer 
C) Firefox 
D) All of the above 
A) Chrome 
B) Internet Explorer 
C) Firefox 
D) All of the above

Question 20

A budget tracks income and expenses and may be helpful for use in making business decisions.

Accepted Answer

A) True 
 B)False

The types of accounts that may be reconciled are .

The report shows details for each paycheck created and includes total wages, taxes withheld, and deductions.

QuickBooks Online automatically transfers Net Income into Retained Earnings at the end of the year.

The mouse is used to click on a keyboard shortcut.

When recording an NSF check, you include charges for .

To see every transaction in Debit/Credit format, you prepare a report.

You click the Pay Taxes button in the in order to pay taxes.

To pay sales tax, you click the Plus icon and Checks and then write the check.

You may access the Inventory Quantity Adjustment form by and clicking .

Depreciation is recorded for the decrease in value of a fixed asset.

When a customer qualifies for an early payment discount, the discount is recorded .

You may create Payroll Schedules in Payroll Settings.

QuickBooks Online uses the cash-basis of accounting by default.

To erase all information entered by QuickBooks during the activation of QuickBooks Online, you all information.

The report that you prepare to determine which bills to pay is the report.

Where do you record the 2% discount for early payment of a bill?

A credit card purchase is recorded on a(n) form.

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

Supported browsers for QuickBooks Online include .

A budget tracks income and expenses and may be helpful for use in making business decisions.

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 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

Filters

Exam 10: Payment Methods, Inventory, Reports, and More

The types of accounts that may be reconciled are .

The report shows details for each paycheck created and includes total wages, taxes withheld, and deductions.

QuickBooks Online automatically transfers Net Income into Retained Earnings at the end of the year.

The mouse is used to click on a keyboard shortcut.

When recording an NSF check, you include charges for .

To see every transaction in Debit/Credit format, you prepare a report.

You click the Pay Taxes button in the in order to pay taxes.

To pay sales tax, you click the Plus icon and Checks and then write the check.

You may access the Inventory Quantity Adjustment form by and clicking .

Depreciation is recorded for the decrease in value of a fixed asset.

When a customer qualifies for an early payment discount, the discount is recorded .

You may create Payroll Schedules in Payroll Settings.

QuickBooks Online uses the cash-basis of accounting by default.

To erase all information entered by QuickBooks during the activation of QuickBooks Online, you all information.

The report that you prepare to determine which bills to pay is the report.

Where do you record the 2% discount for early payment of a bill?

A credit card purchase is recorded on a(n) form.

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

Supported browsers for QuickBooks Online include .

A budget tracks income and expenses and may be helpful for use in making business decisions.

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 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

Filters