Deck 3: Sales and Receivables: Service Items

Question 1

A sale on account means that the sale was paid for at the time of purchase.

Answer 1

False

Question 2

When an invoice is it is removed from the customer's register.

A)Voided
B)Deleted
C)Edited
D)Paid

Answer 2

B

Question 3

A sale on account is recorded on a(n) .

A)Invoice
B)Receive Payment
C)Sales Receipt
D)Charge Account Receipt

Answer 3

A

Question 4

The types of Product/Service items that can be added include: .

A)Non-inventory
B)Service
C)Inventory
D)All of these Product/Service Items can be added

Question 5

In QuickBooks Online, invoices replace the Sales Journal.

Question 6

When a customer on account pays his bill, you record a(n) .

A)Sales Receipt
B)Payment Receipt
C)Credit Memo
D)Invoice

Question 7

When a return is made for a Sales Receipt, a is completed.

A)Sales Receipt Return
B)Credit Memo
C)Refund Receipt
D)Voided Transaction

Question 8

The Customer Balance Detail shows the total of all cash sales for each customer.

Question 9

Cash is the only payment method accepted for a Cash Sale.

Question 10

A new sales item may be entered when recording a sale on an invoice.