Question 1

Use the Settings menu to see all the company's lists.

Accepted Answer

A) True 
 B)False  True

Question 2

This report lists transactions subtotaled by each account on the chart of accounts.

Accepted Answer

A) Statement of Cash Flows. 
B) Balance Sheet. 
C) Summary transaction report for a specific period. 
D) Transaction Detail by Account. 
E) None. 
A) Statement of Cash Flows. 
B) Balance Sheet. 
C) Summary transaction report for a specific period. 
D) Transaction Detail by Account. 
E) None. D

Question 3

In Chapter 10, use the ______________________ to reconcile Account 101 Checking.

Accepted Answer

A) Activity list. 
B) Account and Settings. 
C) Vendor purchases. 
D) Bank statement. 
E) None. 
A) Activity list. 
B) Account and Settings. 
C) Vendor purchases. 
D) Bank statement. 
E) None. D

Question 4

The Create menu includes the Chart of Accounts.

Accepted Answer

A) True 
 B)False

Question 5

QuickBooks Online cannot be accessed using a Mac computer.

Accepted Answer

A) True 
 B)False

Question 6

You cannot merge two accounts that are not the same type.

Accepted Answer

A) True 
 B)False

Question 7

What report do you run to display overdue bills?

Accepted Answer

A) Accounts Payable Aging report. 
B) Accounts Receivable Aging report. 
C) Open Bills. 
D) Audit Log. 
E) None 
A) Accounts Payable Aging report. 
B) Accounts Receivable Aging report. 
C) Open Bills. 
D) Audit Log. 
E) None

Question 8

When you sign in, QBO is up to date.

Accepted Answer

A) True 
 B)False

Question 9

March 31 is the end of the:

Accepted Answer

A) Fourth quarter. 
B) Third quarter. 
C) Second quarter. 
D) First quarter. 
E) None. 
A) Fourth quarter. 
B) Third quarter. 
C) Second quarter. 
D) First quarter. 
E) None.

Question 10

Which report shows unpaid bills for the current period?

Accepted Answer

A) A/P Summary. 
B) Balance Sheet. 
C) Profit and Loss. 
D) Statement of Cash Flows. 
E) None. 
A) A/P Summary. 
B) Balance Sheet. 
C) Profit and Loss. 
D) Statement of Cash Flows. 
E) None.

Question 11

Click on the magnifying-glass icon to search by transaction, amount, or date.

Accepted Answer

A) True 
 B)False

Question 12

The source documents in Chapter 10 include.

Accepted Answer

A) Credit card sales. 
B) Accounts payable transactions. 
C) Accounts receivable transactions. 
D) Checks. 
E) All. 
A) Credit card sales. 
B) Accounts payable transactions. 
C) Accounts receivable transactions. 
D) Checks. 
E) All.

Question 13

This report summarizes key information such as quantity on hand, value, and average cost for each item.

Accepted Answer

A) A/R Aging Summary. 
B) A/P Aging Summary. 
C) Inventory Valuation Summary. 
D) Adjusting entry report. 
E) All. 
A) A/R Aging Summary. 
B) A/P Aging Summary. 
C) Inventory Valuation Summary. 
D) Adjusting entry report. 
E) All.

Question 14

At the end of Chapter 10, reports are exported to Excel.

Accepted Answer

A) True 
 B)False

Question 15

To remove a product from the item list, make it inactive.

Accepted Answer

A) True 
 B)False

Question 16

This report breaks down every transaction during a period of time into debits and credits and displays them chronologically.

Accepted Answer

A) Customer balance summary. 
B) Vendor balance summary. 
C) Profit and Loss. 
D) Journal. 
E) All. 
A) Customer balance summary. 
B) Vendor balance summary. 
C) Profit and Loss. 
D) Journal. 
E) All.

Question 17

Customers are people who purchase products and services from you.

Accepted Answer

A) True 
 B)False

Question 18

Which report shows unpaid invoices for the current period?

Accepted Answer

A) Balance Sheet. 
B) A/P Summary. 
C) A/R Summary. 
D) Profit and Loss. 
E) None. 
A) Balance Sheet. 
B) A/P Summary. 
C) A/R Summary. 
D) Profit and Loss. 
E) None.

Question 19

Sign out is included as a link on the Create menu.

Accepted Answer

A) True 
 B)False

Use the Settings menu to see all the company's lists.

This report lists transactions subtotaled by each account on the chart of accounts.

In Chapter 10, use the ______________________ to reconcile Account 101 Checking.

The Create menu includes the Chart of Accounts.

QuickBooks Online cannot be accessed using a Mac computer.

You cannot merge two accounts that are not the same type.

What report do you run to display overdue bills?

When you sign in, QBO is up to date.

March 31 is the end of the:

Which report shows unpaid bills for the current period?

Click on the magnifying-glass icon to search by transaction, amount, or date.

The source documents in Chapter 10 include.

This report summarizes key information such as quantity on hand, value, and average cost for each item.

At the end of Chapter 10, reports are exported to Excel.

To remove a product from the item list, make it inactive.

This report breaks down every transaction during a period of time into debits and credits and displays them chronologically.

Customers are people who purchase products and services from you.

Which report shows unpaid invoices for the current period?

Sign out is included as a link on the Create menu.

Quickbooks Online Test-Drive

New Company Setup and the Chart of Accounts

Beginning Balances and October Transaction Register

Vendors and Inventory

Customers and Sales

December Source Documents

Analysis and Reportsend of Fourth Quarter and Year

January Source Documents

February Source Documents

Certification, Report Customization and Quickbooks Labs

Apps, Updates, Quickbooks Blog and Tips

Filters

Exam 10: February Source Documents

Use the Settings menu to see all the company's lists.

This report lists transactions subtotaled by each account on the chart of accounts.

In Chapter 10, use the ______________________ to reconcile Account 101 Checking.

The Create menu includes the Chart of Accounts.

QuickBooks Online cannot be accessed using a Mac computer.

You cannot merge two accounts that are not the same type.

What report do you run to display overdue bills?

When you sign in, QBO is up to date.

March 31 is the end of the:

Which report shows unpaid bills for the current period?

Click on the magnifying-glass icon to search by transaction, amount, or date.

The source documents in Chapter 10 include.

This report summarizes key information such as quantity on hand, value, and average cost for each item.

At the end of Chapter 10, reports are exported to Excel.

To remove a product from the item list, make it inactive.

This report breaks down every transaction during a period of time into debits and credits and displays them chronologically.

Customers are people who purchase products and services from you.

Which report shows unpaid invoices for the current period?

Sign out is included as a link on the Create menu.

Quickbooks Online Test-Drive

New Company Setup and the Chart of Accounts

Beginning Balances and October Transaction Register

Vendors and Inventory

Customers and Sales

December Source Documents

Analysis and Reportsend of Fourth Quarter and Year

January Source Documents

February Source Documents

Certification, Report Customization and Quickbooks Labs

Apps, Updates, Quickbooks Blog and Tips

Filters