Question 1

The Enter Bills window is used to record which one of the following transactions?

Accepted Answer

A) Services received but not yet paid 
B) Owners' investment 
C) Items sold to customers 
D) Customer invoices created 
A) Services received but not yet paid 
B) Owners' investment 
C) Items sold to customers 
D) Customer invoices created A

Question 2

Which QuickBooks window is used to record services received?

Accepted Answer

A) Create Invoice 
B) Purchase Order 
C) Estimates 
D) Enter Bills 
A) Create Invoice 
B) Purchase Order 
C) Estimates 
D) Enter Bills D

Question 3

What QuickBooks activity comes next in this series of business activities: Enter Bills > ________

Accepted Answer

A) Receive Payments 
B) Pay Bills 
C) Make Deposit 
D) Enter Purchase Order 
A) Receive Payments 
B) Pay Bills 
C) Make Deposit 
D) Enter Purchase Order B

Question 4

Which one of the following tasks is shown in the Vendors section of the Home Page?

Accepted Answer

A) Write Checks 
B) Receive Payments 
C) Enter Bills 
D) Make Deposits 
A) Write Checks 
B) Receive Payments 
C) Enter Bills 
D) Make Deposits

Question 5

The journal entry behind the screen that QuickBooks creates when a bill is recorded using the Enter Bills window includes:

Accepted Answer

A) Debit Accounts Payable,Credit Checking account 
B) Debit Checking account,Credit Accounts Payable 
C) Debit Expense account,Credit Accounts Payable 
D) Debit Accounts Payable,Credit Expense account 
A) Debit Accounts Payable,Credit Checking account 
B) Debit Checking account,Credit Accounts Payable 
C) Debit Expense account,Credit Accounts Payable 
D) Debit Accounts Payable,Credit Expense account

Question 6

When a bill is paid in QuickBooks using the Pay Bills window,QuickBooks:

Accepted Answer

A) Decreases an Expense account and decreases the Checking account 
B) Increases an Expense account and increases the Accounts Payable account 
C) Increases the Accounts Payable account and increases the Checking account 
D) Decreases the Accounts Payable account and decreases the Checking account 
A) Decreases an Expense account and decreases the Checking account 
B) Increases an Expense account and increases the Accounts Payable account 
C) Increases the Accounts Payable account and increases the Checking account 
D) Decreases the Accounts Payable account and decreases the Checking account

Question 7

Which one of the following is a vendor transaction?

Accepted Answer

A) Make deposits 
B) Pay bills 
C) Receive customer payments 
D) Sell products to customers 
A) Make deposits 
B) Pay bills 
C) Receive customer payments 
D) Sell products to customers

Question 8

Briefly explain why it is important for a company to track accounts payable and how accounts payable reports can assist with tracking accounts payable.

Accepted Answer

In order to make certain that a company

Question 9

Which one of the following is a vendor transaction?

Accepted Answer

A) Create invoices 
B) Receive payments 
C) Sell products 
D) Enter bills 
A) Create invoices 
B) Receive payments 
C) Sell products 
D) Enter bills

Question 10

When a bill is entered into QuickBooks using the Enter Bills window,QuickBooks:

Accepted Answer

A) Decreases an Expense account and increases the Accounts Payable account 
B) Increases an Expense account and increases the Accounts Payable account 
C) Increases the Accounts Receivable account and increases the Income account 
D) Decreases the Accounts Receivable account and decreases Accounts Payable account 
A) Decreases an Expense account and increases the Accounts Payable account 
B) Increases an Expense account and increases the Accounts Payable account 
C) Increases the Accounts Receivable account and increases the Income account 
D) Decreases the Accounts Receivable account and decreases Accounts Payable account

Question 11

List 3 (three)different ways to access Vendor reports using QuickBooks.

Accepted Answer

The ways that QuickBooks offers to acces

Question 12

Which one of the following is not a vendor transaction?

Accepted Answer

A) Order goods 
B) Receive inventory 
C) Create sales receipt 
D) Receive bills 
A) Order goods 
B) Receive inventory 
C) Create sales receipt 
D) Receive bills

Question 13

To view journal entries that QuickBooks creates behind the screen when you are entering and paying bills,you would select:

Accepted Answer

A) Reports Center > Accountant & Taxes > Journal 
B) Reports Center > Company & Financials > General Journal 
C) Company Menu > Company & Financials > General Journal 
D) Company Menu > Accountant & Taxes > Journal 
A) Reports Center > Accountant & Taxes > Journal 
B) Reports Center > Company & Financials > General Journal 
C) Company Menu > Company & Financials > General Journal 
D) Company Menu > Accountant & Taxes > Journal

Question 14

Vendor reports can be accessed in QuickBooks in all of the following ways except:

Accepted Answer

A) Reports Center 
B) Vendors Center 
C) Reports Menu 
D) All the choices are correct 
A) Reports Center 
B) Vendors Center 
C) Reports Menu 
D) All the choices are correct

Question 15

Form 1099 is used to:

Accepted Answer

A) Report the amount paid to a vendor in compliance with IRS regulations 
B) Report the amount received from customers in compliance with IRS regulations 
C) Report the amount paid to employees in compliance with IRS regulations 
D) None of the choices are correct 
A) Report the amount paid to a vendor in compliance with IRS regulations 
B) Report the amount received from customers in compliance with IRS regulations 
C) Report the amount paid to employees in compliance with IRS regulations 
D) None of the choices are correct

Question 16

QuickBooks considers all of the following to be vendors except:

Accepted Answer

A) Leasing companies 
B) Tax agencies such as the IRS 
C) Utility companies 
D) All the choices are correct 
A) Leasing companies 
B) Tax agencies such as the IRS 
C) Utility companies 
D) All the choices are correct

Question 17

All the times below are when you can receive a bill except:

Accepted Answer

A) Before receiving a service 
B) When submitting a purchase order 
C) At the time of providing a service 
D) After receiving a service 
A) Before receiving a service 
B) When submitting a purchase order 
C) At the time of providing a service 
D) After receiving a service

Question 18

Which report summarizes accounts payable balances by the age of the account?

Accepted Answer

A) Accounts Receivable Aging Detail 
B) Accounts Payable Aging Summary 
C) Purchases by Vendor Summary 
D) Purchases by Item Summary 
A) Accounts Receivable Aging Detail 
B) Accounts Payable Aging Summary 
C) Purchases by Vendor Summary 
D) Purchases by Item Summary

Question 19

Which one of the following reports helps track past due bills and bills that are due shortly?

Accepted Answer

A) Customer Aging Summary 
B) Accounts Payable Aging Detail 
C) Accounts Receivable Aging Summary 
D) Vendor Aging Report 
A) Customer Aging Summary 
B) Accounts Payable Aging Detail 
C) Accounts Receivable Aging Summary 
D) Vendor Aging Report

Question 20

QuickBooks considers all of the following to be vendors except:

Accepted Answer

A) Financial institutions such as banks 
B) Suppliers of inventory and supplies 
C) Tax agencies such as the IRS 
D) Customers purchasing goods 
A) Financial institutions such as banks 
B) Suppliers of inventory and supplies 
C) Tax agencies such as the IRS 
D) Customers purchasing goods

The Enter Bills window is used to record which one of the following transactions?

Which QuickBooks window is used to record services received?

What QuickBooks activity comes next in this series of business activities: Enter Bills > ________

Which one of the following tasks is shown in the Vendors section of the Home Page?

The journal entry behind the screen that QuickBooks creates when a bill is recorded using the Enter Bills window includes:

When a bill is paid in QuickBooks using the Pay Bills window,QuickBooks:

Which one of the following is a vendor transaction?

Briefly explain why it is important for a company to track accounts payable and how accounts payable reports can assist with tracking accounts payable.

Which one of the following is a vendor transaction?

When a bill is entered into QuickBooks using the Enter Bills window,QuickBooks:

List 3 (three)different ways to access Vendor reports using QuickBooks.

Which one of the following is not a vendor transaction?

To view journal entries that QuickBooks creates behind the screen when you are entering and paying bills,you would select:

Vendor reports can be accessed in QuickBooks in all of the following ways except:

Form 1099 is used to:

QuickBooks considers all of the following to be vendors except:

All the times below are when you can receive a bill except:

Which report summarizes accounts payable balances by the age of the account?

Which one of the following reports helps track past due bills and bills that are due shortly?

QuickBooks considers all of the following to be vendors except:

Navigation and Settings

Chart of Accounts

Transactions

Banking

Customers and Sales

Inventory

Employees and Payroll

Adjustments

Reports

Service Company

Merchandise Company

Features for Accountants

Desktop Versus Quickbooks Online

Review Guide

Filters

Exam 6: Vendors and Expenses

The Enter Bills window is used to record which one of the following transactions?

Which QuickBooks window is used to record services received?

What QuickBooks activity comes next in this series of business activities: Enter Bills > ________

Which one of the following tasks is shown in the Vendors section of the Home Page?

The journal entry behind the screen that QuickBooks creates when a bill is recorded using the Enter Bills window includes:

When a bill is paid in QuickBooks using the Pay Bills window,QuickBooks:

Which one of the following is a vendor transaction?

Briefly explain why it is important for a company to track accounts payable and how accounts payable reports can assist with tracking accounts payable.

Which one of the following is a vendor transaction?

When a bill is entered into QuickBooks using the Enter Bills window,QuickBooks:

List 3 (three)different ways to access Vendor reports using QuickBooks.

Which one of the following is not a vendor transaction?

To view journal entries that QuickBooks creates behind the screen when you are entering and paying bills,you would select:

Vendor reports can be accessed in QuickBooks in all of the following ways except:

Form 1099 is used to:

QuickBooks considers all of the following to be vendors except:

All the times below are when you can receive a bill except:

Which report summarizes accounts payable balances by the age of the account?

Which one of the following reports helps track past due bills and bills that are due shortly?

QuickBooks considers all of the following to be vendors except:

Navigation and Settings

Chart of Accounts

Transactions

Banking

Customers and Sales

Inventory

Employees and Payroll

Adjustments

Reports

Service Company

Merchandise Company

Features for Accountants

Desktop Versus Quickbooks Online

Review Guide

Filters