Question 1

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 C

Question 2

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 D

Question 3

Which one of the following is a customer transaction?

Accepted Answer

A) Record Customer Information 
B) Receive Customer Payments 
C) Sell Goods to Customers 
D) All of these 
A) Record Customer Information 
B) Receive Customer Payments 
C) Sell Goods to Customers 
D) All of these D

Question 4

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

Accepted Answer

A) When receiving a service 
B) When submitting a purchase order 
C) When receiving inventory 
D) After receiving inventory 
A) When receiving a service 
B) When submitting a purchase order 
C) When receiving inventory 
D) After receiving inventory

Question 5

The Purchase Orders window is used to record which one of the following transactions?

Accepted Answer

A) Cash purchases of supplies 
B) Services received but not yet paid 
C) An order to purchase goods from a vendor 
D) A customer order to purchase goods 
A) Cash purchases of supplies 
B) Services received but not yet paid 
C) An order to purchase goods from a vendor 
D) A customer order to purchase goods

Question 6

How does QuickBooks categorize items?

Accepted Answer

A) Non-inventory items 
B) Inventory items 
C) Service items 
D) All of these 
A) Non-inventory items 
B) Inventory items 
C) Service items 
D) All of these

Question 7

Which of the following reports is typically used when counting inventory on hand?

Accepted Answer

A) Inventory Valuation Summary 
B) Inventory Valuation Detail 
C) Inventory Stock Status by Item 
D) Physical Inventory Worksheet 
A) Inventory Valuation Summary 
B) Inventory Valuation Detail 
C) Inventory Stock Status by Item 
D) Physical Inventory Worksheet

Question 8

The Purchase Orders window is used to record which one of the following transactions?

Accepted Answer

A) A customer order to purchase goods 
B) An order to purchase goods from a vendor 
C) Services received but not yet paid 
D) Cash purchases of supplies 
A) A customer order to purchase goods 
B) An order to purchase goods from a vendor 
C) Services received but not yet paid 
D) Cash purchases of supplies

Question 9

If you received inventory without a bill,once the bill has arrived you could do all of the following,except:

Accepted Answer

A) Enter the bill against the inventory already recorded 
B) Enter the inventory and then enter the bill separately 
C) Enter the bill and wait for the inventory to arrive 
D) Enter the inventory and bill at the same time 
A) Enter the bill against the inventory already recorded 
B) Enter the inventory and then enter the bill separately 
C) Enter the bill and wait for the inventory to arrive 
D) Enter the inventory and bill at the same time

Question 10

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

Accepted Answer

A) Report Center 
B) Vendor Center 
C) Report Menu 
D) All of these 
A) Report Center 
B) Vendor Center 
C) Report Menu 
D) All of these

Question 11

The Inventory Stock Status by Item report is used when:

Accepted Answer

A) Vendors offer a purchase discount on inventory items 
B) A list is needed of the quantity of inventory on hand and on order 
C) The computers go down 
D) Inventory items are physically placed in the warehouse 
A) Vendors offer a purchase discount on inventory items 
B) A list is needed of the quantity of inventory on hand and on order 
C) The computers go down 
D) Inventory items are physically placed in the warehouse

Question 12

Which inventory costing method 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

Question 13

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 14

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 15

Which of the following activities and QuickBooks window used to record it is incorrect?

Accepted Answer

A) Sell goods and bill customers;Invoice 
B) Record inventory information;Inventory List 
C) Record vendor information;Vendor List 
D) Order goods;Purchase Order 
A) Sell goods and bill customers;Invoice 
B) Record inventory information;Inventory List 
C) Record vendor information;Vendor List 
D) Order goods;Purchase Order

Question 16

What are Inventory Items,Non-inventory items,and Services? Provide examples.

Accepted Answer

Inventory items are goods that a busines

Question 17

Which one of the following is a vendor transaction?

Accepted Answer

A) Make Deposits 
B) Receive Customer Payments 
C) Enter Bills 
D) Sell Goods to Customers 
A) Make Deposits 
B) Receive Customer Payments 
C) Enter Bills 
D) Sell Goods to Customers

Question 18

Briefly describe how sales tax payments flow from customers to government entities.

Accepted Answer

Customers pay sales tax to com

Question 19

Which one of the following activities is not shown in the Vendor section of the Home page?

Accepted Answer

A) Write Checks 
B) Pay Sales Taxes 
C) Pay Bills 
D) Purchase Orders 
A) Write Checks 
B) Pay Sales Taxes 
C) Pay Bills 
D) Purchase Orders

Question 20

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

Which report provides information on items ordered but not received?

QuickBooks considers all of the following to be vendors except:

Which one of the following is a customer transaction?

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

The Purchase Orders window is used to record which one of the following transactions?

How does QuickBooks categorize items?

Which of the following reports is typically used when counting inventory on hand?

The Purchase Orders window is used to record which one of the following transactions?

If you received inventory without a bill,once the bill has arrived you could do all of the following,except:

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

The Inventory Stock Status by Item report is used when:

Which inventory costing method does QuickBooks use to track inventory?

Which order of tasks is used when purchasing inventory?

Which window is used to pay sales taxes?

Which of the following activities and QuickBooks window used to record it is incorrect?

What are Inventory Items,Non-inventory items,and Services? Provide examples.

Which one of the following is a vendor transaction?

Briefly describe how sales tax payments flow from customers to government entities.

Which one of the following activities is not shown in the Vendor section of the Home page?

A non-inventory item is:

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Household Finance

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters

Exam 5: Financial Statements Analysis

Which report provides information on items ordered but not received?

QuickBooks considers all of the following to be vendors except:

Which one of the following is a customer transaction?

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

The Purchase Orders window is used to record which one of the following transactions?

How does QuickBooks categorize items?

Which of the following reports is typically used when counting inventory on hand?

The Purchase Orders window is used to record which one of the following transactions?

If you received inventory without a bill,once the bill has arrived you could do all of the following,except:

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

The Inventory Stock Status by Item report is used when:

Which inventory costing method does QuickBooks use to track inventory?

Which order of tasks is used when purchasing inventory?

Which window is used to pay sales taxes?

Which of the following activities and QuickBooks window used to record it is incorrect?

What are Inventory Items,Non-inventory items,and Services? Provide examples.

Which one of the following is a vendor transaction?

Briefly describe how sales tax payments flow from customers to government entities.

Which one of the following activities is not shown in the Vendor section of the Home page?

A non-inventory item is:

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Household Finance

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters