Question 1

Which financial statement below summarizes a company's earnings?

Accepted Answer

A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement 
A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement B

Question 2

In QuickBooks,how do you can enter transaction information?

Accepted Answer

A) Onscreen forms and scanned images of transaction forms 
B) Onscreen forms and QuickBooks reports 
C) Onscreen Journal and scanned images of transaction forms 
D) Onscreen Journal and Onscreen Forms 
A) Onscreen forms and scanned images of transaction forms 
B) Onscreen forms and QuickBooks reports 
C) Onscreen Journal and scanned images of transaction forms 
D) Onscreen Journal and Onscreen Forms D

Question 3

Double-entry account records what is exchanged in a transaction (debits and credits).Which of the following is recorded when a company purchases (receives)a computer and pays (gives)cash?

Accepted Answer

A) The computer is recorded as a credit and the cash is recorded as a credit 
B) The computer is recorded as a debit and the cash is recorded as a debit 
C) The computer is recorded as a credit and the cash is recorded as a debit 
D) The computer is recorded as a debit and the cash is recorded as a credit 
A) The computer is recorded as a credit and the cash is recorded as a credit 
B) The computer is recorded as a debit and the cash is recorded as a debit 
C) The computer is recorded as a credit and the cash is recorded as a debit 
D) The computer is recorded as a debit and the cash is recorded as a credit D

Question 4

List the 3 (three)different type of QuickBooks files.What is the purpose of each file type?

Accepted Answer

The three QuickBooks file types are:
*QB

Question 5

Accounting information is used to do all of the following except:

Accepted Answer

A) Prepare financial statements for investors 
B) Prepare tax returns for the IRS 
C) Prepare reports for management 
D) Prepare meeting minutes for the board of directors 
A) Prepare financial statements for investors 
B) Prepare tax returns for the IRS 
C) Prepare reports for management 
D) Prepare meeting minutes for the board of directors

Question 6

Management reports help identify:

Accepted Answer

A) Overdue customer accounts 
B) Least profitable product 
C) Most profitable product 
D) All of these. 
A) Overdue customer accounts 
B) Least profitable product 
C) Most profitable product 
D) All of these.

Question 7

Name 2 (two)of the 5 centers on the QuickBooks home screen and briefly describe what kind of activity flows through those centers:

Accepted Answer

The five centers are:
*Vendors - pay bil

Question 8

To change a company name in QuickBooks,select the following from the Menu Bar:

Accepted Answer

A) Company > Preferences 
B) Home > Edit > Preferences 
C) Company > My Company > Edit 
D) None of these 
A) Company > Preferences 
B) Home > Edit > Preferences 
C) Company > My Company > Edit 
D) None of these

Question 9

The Banking section of the Home Page includes which flow chart?

Accepted Answer

A) Payroll flowchart 
B) Bank Reconciliation flowchart 
C) Bill Pay flow chart 
D) None of these 
A) Payroll flowchart 
B) Bank Reconciliation flowchart 
C) Bill Pay flow chart 
D) None of these

Question 10

A business transaction is an exchange between:

Accepted Answer

A) Vendor 
B) Employee 
C) Customer 
D) All of these 
A) Vendor 
B) Employee 
C) Customer 
D) All of these

Question 11

The Home page in QuickBooks consists of all of the following sections except:

Accepted Answer

A) Employee 
B) Lists 
C) Customer 
D) Vendor 
A) Employee 
B) Lists 
C) Customer 
D) Vendor

Question 12

The onscreen form for ordering items from a vendor looks like the paper version of a:

Accepted Answer

A) Purchase Order 
B) Invoice 
C) Check 
D) None of these 
A) Purchase Order 
B) Invoice 
C) Check 
D) None of these

Question 13

Which financial statement below summarizes a company's cash inflow and outflow?

Accepted Answer

A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement 
A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement

Question 14

Which of the following tasks is completed from the Banking section of the Home page?

Accepted Answer

A) Enter credit card charges 
B) Pay employees 
C) Record bills paid 
D) Record payments received from customers. 
A) Enter credit card charges 
B) Pay employees 
C) Record bills paid 
D) Record payments received from customers.

Question 15

Which one of the following activities is associated with the Customer section of the Home page?

Accepted Answer

A) Pay sales tax 
B) Enter bills 
C) Record refunds and credits 
D) Record inventory received 
A) Pay sales tax 
B) Enter bills 
C) Record refunds and credits 
D) Record inventory received

Question 16

The QuickBooks file extension .QBA indicates the file is a:

Accepted Answer

A) QuickBooks working file 
B) QuickBooks movable file 
C) QuickBooks Accountant's transfer file 
D) QuickBooks Accountant's working file 
A) QuickBooks working file 
B) QuickBooks movable file 
C) QuickBooks Accountant's transfer file 
D) QuickBooks Accountant's working file

Question 17

Which icon is used to add a document on your computer into QuickBooks?

Accepted Answer

A) Docs icon 
B) Customer icon 
C) Vendor icon 
D) All of these 
A) Docs icon 
B) Customer icon 
C) Vendor icon 
D) All of these

Question 18

Which type of QuickBooks data file allows you to enter data and transactions?

Accepted Answer

A) .QBM 
B) .QBB 
C) .QBX 
D) .QBW 
A) .QBM 
B) .QBB 
C) .QBX 
D) .QBW

Question 19

Which financial statement below summarizes the financial position of a company?

Accepted Answer

A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement 
A) Statement of Cash Flows 
B) Profit & Loss Statement 
C) Balance Sheet 
D) Income Statement

Question 20

Which QuickBooks window allows you to add your name to the checking account?

Accepted Answer

A) Chart of Accounts 
B) Company Information 
C) Company Center 
D) Check Register 
A) Chart of Accounts 
B) Company Information 
C) Company Center 
D) Check Register

Which financial statement below summarizes a company's earnings?

In QuickBooks,how do you can enter transaction information?

Double-entry account records what is exchanged in a transaction (debits and credits).Which of the following is recorded when a company purchases (receives)a computer and pays (gives)cash?

List the 3 (three)different type of QuickBooks files.What is the purpose of each file type?

Accounting information is used to do all of the following except:

Management reports help identify:

Name 2 (two)of the 5 centers on the QuickBooks home screen and briefly describe what kind of activity flows through those centers:

To change a company name in QuickBooks,select the following from the Menu Bar:

The Banking section of the Home Page includes which flow chart?

A business transaction is an exchange between:

The Home page in QuickBooks consists of all of the following sections except:

The onscreen form for ordering items from a vendor looks like the paper version of a:

Which financial statement below summarizes a company's cash inflow and outflow?

Which of the following tasks is completed from the Banking section of the Home page?

Which one of the following activities is associated with the Customer section of the Home page?

The QuickBooks file extension .QBA indicates the file is a:

Which icon is used to add a document on your computer into QuickBooks?

Which type of QuickBooks data file allows you to enter data and transactions?

Which financial statement below summarizes the financial position of a company?

Which QuickBooks window allows you to add your name to the checking account?

Time Value of Money

Beginning the Planning Process

Household Finance

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters

Exam 1: Introduction to PFP

Which financial statement below summarizes a company's earnings?

In QuickBooks,how do you can enter transaction information?

Double-entry account records what is exchanged in a transaction (debits and credits).Which of the following is recorded when a company purchases (receives)a computer and pays (gives)cash?

List the 3 (three)different type of QuickBooks files.What is the purpose of each file type?

Accounting information is used to do all of the following except:

Management reports help identify:

Name 2 (two)of the 5 centers on the QuickBooks home screen and briefly describe what kind of activity flows through those centers:

To change a company name in QuickBooks,select the following from the Menu Bar:

The Banking section of the Home Page includes which flow chart?

A business transaction is an exchange between:

The Home page in QuickBooks consists of all of the following sections except:

The onscreen form for ordering items from a vendor looks like the paper version of a:

Which financial statement below summarizes a company's cash inflow and outflow?

Which of the following tasks is completed from the Banking section of the Home page?

Which one of the following activities is associated with the Customer section of the Home page?

The QuickBooks file extension .QBA indicates the file is a:

Which icon is used to add a document on your computer into QuickBooks?

Which type of QuickBooks data file allows you to enter data and transactions?

Which financial statement below summarizes the financial position of a company?

Which QuickBooks window allows you to add your name to the checking account?

Time Value of Money

Beginning the Planning Process

Household Finance

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters