Exam 6: 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

In the text, Venice is categorized as a .

Free

(Multiple Choice)

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Question 1

Correct Answer:

Verified

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

Free

(True/False)

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Question 2

Correct Answer:

Verified

True

When recording an NSF check, you include charges for .

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

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

(True/False)

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Question 4

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

(Multiple Choice)

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Question 5

QBO shows the Discount after Sales Taxes on sales forms.

(True/False)

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Question 6

The Customer Balance Summary report lists all of the unpaid invoices for each customer.

(True/False)

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Question 7

In the text, California Sales Taxes are charged on sold.

(Multiple Choice)

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Question 8

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

(True/False)

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Question 9

The FIFO method of inventory valuation uses .

(Multiple Choice)

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Question 10

Showing 1 - 10 of 10

In the text, Venice is categorized as a .

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

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.

QBO shows the Discount after Sales Taxes on sales forms.

The Customer Balance Summary report lists all of the unpaid invoices for each customer.

In the text, California Sales Taxes are charged on sold.

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

The FIFO method of inventory valuation uses .

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 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

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