Deck 1: Quickbooks Online Test-Drive

Question 1

The Test Drive company is also known as:

A)Craig's Design and Landscaping Services.
B)The sample company.
C)Populated company data used in Chapter 1.
D)A way to practice using the QuickBooks Online (QBO) user interface.
E)All.

Answer 1

E

Question 2

To see recent transactions, use this icon:

A)Question mark.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)None.

Answer 2

D

Question 3

This report shows unpaid invoices for the current period:

A)A/P Aging Summary.
B)Balance Sheet.
C)Profit and Loss.
D)A/R Aging Summary.
E)All.

Answer 3

D

Question 4

To create transactions, use this icon:

A)Apps.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)All.

Question 5

The cloud stores data on web servers instead of your computer.

Question 6

Accounts are used to classify transaction information for:

A)Additional detail.
B)Trial Balance.
C)Reporting purposes.
D)Cost of Sales.
E)All.

Question 7

Business processes are a collection of related, structured activities that produce a specific service or product.

Question 8

The Dashboard is the central place for getting an overview of the company.

Question 9

QuickBooks Online updates:

A)Automatically.
B)Never.
C)Every time you sign in and sign off.
D)At the end of the quarter.
E)All.

Question 10

Liability accounts usually start with the number 3000.

Question 11

The link between the user and the software is called the:

A)Chart of Accounts.
B)General Ledger.
C)Navigation bar.
D)User interface.
E)All.

Question 12

A Chart of Accounts is a list of the company snapshot accounts.

Question 13

Another name for the Profit and Loss report is the Income Statement.

Question 14

The balance sheet lists what you own (assets), what your debts are (liabilities), and what you've invested (equity).

Question 15

A complete list of a business's accounts and their balances is called:

A)Balance Sheet
B)Income and expense accounts
C)Trial Balance
D)Chart of Accounts
E)None

Question 16

To access Sales (customers), Expenses (vendors), Accounting (chart of accounts), and reports, use the Settings Menu.

Question 17

To go to the Settings menu, use this icon:

A)Question mark.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)All.

Question 18

When you sign out of the test drive, your data is:

A)Saved.
B)Not saved.
C)Exports to Excel.
D)Saved as PDF file.
E)All.

Question 19

You can only use a mouse to move around QBO.

Question 20

Subcategories for account classification are shown within the Type column on the Chart of Accounts.