Deck 2: Create a Company

Question 1

You may import company data from .

A)Excel files
B)QuickBooks Desktop Company File
C)Word files
D)Either A or B

Answer 1

D

Question 2

When importing accounts, all opening balances are entered automatically for Assets and Liabilities.

Answer 2

False

Question 3

You can purge data and import data using either Excel or QuickBooks Desktop as many times as you wish during the first 90 days of activating your QuickBooks Online account.

Answer 3

False

Question 4

Opening balances are imported for Customers and Vendors.

Question 5

To erase all information entered by QuickBooks during the activation of QBO, you all information.

A)Edit
B)Purge
C)Transfer
D)Import

Question 6

Which tab do you click in order to add Terms to a customer's account?

A)Tax Info
B)Notes
C)Payment and Billing
D)Address

Question 7

It is better to add accounts rather than import them.

A)Fixed Assets
B)Retained Earnings
C)Income
D)Long-Term Liabilities

Question 8

A registered Educational Trial Version of QuickBooks Online is usable for 30 days.

Question 9

All of the following can be Imported into QuickBooks Online with Excel except .

A)Customers
B)Company Settings
C)Vendors
D)Products and Services

Question 10

You can add preferred invoice terms by editing Sales Settings.