Question 1

What QuickBooks activity comes next in this string of business activities? Purchase Order > Receive Items > Enter Bills > ______

Accepted Answer

A) Receive Payments 
B) Pay Bills 
C) Deposit 
D) Vendor List 
A) Receive Payments 
B) Pay Bills 
C) Deposit 
D) Vendor List

Question 2

Which order of tasks is used when purchasing inventory?

Accepted Answer

A) Enter Bills; Pay Bills 
B) Enter Invoice; Write Check 
C) Purchase Order; Receive Bill; Pay Bills 
D) Purchase Requisition; Receive Inventory; Pay Bills 
A) Enter Bills; Pay Bills 
B) Enter Invoice; Write Check 
C) Purchase Order; Receive Bill; Pay Bills 
D) Purchase Requisition; Receive Inventory; Pay Bills

Question 3

Which window is used to pay sales taxes?

Accepted Answer

A) Create Invoice 
B) Write Checks 
C) Manage Sales Tax 
D) Enter Bills 
A) Create Invoice 
B) Write Checks 
C) Manage Sales Tax 
D) Enter Bills

Question 4

QuickBooks considers all of the following to be vendors except:

Accepted Answer

A) Financial institutions such as banks 
B) Tax agencies such as the IRS 
C) Utility companies 
D) All of these 
A) Financial institutions such as banks 
B) Tax agencies such as the IRS 
C) Utility companies 
D) All of these

Question 5

A non-inventory item is:

Accepted Answer

A) Goods purchased for resale to customers 
B) An item purchased for a specific customer job 
C) A service purchased from a vendor 
D) A service sold to a vendor 
A) Goods purchased for resale to customers 
B) An item purchased for a specific customer job 
C) A service purchased from a vendor 
D) A service sold to a vendor

Question 6

Which report provides information on items ordered but not received?

Accepted Answer

A) Accounts Payable Aging Detail 
B) Accounts Payable Aging Summary 
C) Open Purchase Orders Report 
D) Physical Inventory Worksheet 
A) Accounts Payable Aging Detail 
B) Accounts Payable Aging Summary 
C) Open Purchase Orders Report 
D) Physical Inventory Worksheet

Question 7

Which inventory costing method(s) does QuickBooks use to track inventory?

Accepted Answer

A) First-in First-out 
B) First-in Last-out 
C) Weighted Average 
D) All of these 
A) First-in First-out 
B) First-in Last-out 
C) Weighted Average 
D) All of these

What QuickBooks activity comes next in this string of business activities? Purchase Order > Receive Items > Enter Bills > ______

Which order of tasks is used when purchasing inventory?

Which window is used to pay sales taxes?

QuickBooks considers all of the following to be vendors except:

A non-inventory item is:

Which report provides information on items ordered but not received?

Which inventory costing method(s) does QuickBooks use to track inventory?

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Banking

Customers and Sales

Employees and Payroll

Reports and Graphs

New Company Setup

Accounting for a Service Company

Merchandising Corporation: Sales, Purchases and Inventory

Merchandising Corporation: Payroll

Advanced Quickbooks Features for Accountants

Filters

Exam 5: Vendors, Purchases, and Inventory

What QuickBooks activity comes next in this string of business activities? Purchase Order > Receive Items > Enter Bills > ______

Which order of tasks is used when purchasing inventory?

Which window is used to pay sales taxes?

QuickBooks considers all of the following to be vendors except:

A non-inventory item is:

Which report provides information on items ordered but not received?

Which inventory costing method(s) does QuickBooks use to track inventory?

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Banking

Customers and Sales

Employees and Payroll

Reports and Graphs

New Company Setup

Accounting for a Service Company

Merchandising Corporation: Sales, Purchases and Inventory

Merchandising Corporation: Payroll

Advanced Quickbooks Features for Accountants

Filters