Question 1

Credit sales are:

Accepted Answer

A) Recorded using a Create Invoices window 
B) Recorded in a Credit Card Sales window 
C) Recorded using the Create Sales Receipts window 
D) None of these 
A) Recorded using a Create Invoices window 
B) Recorded in a Credit Card Sales window 
C) Recorded using the Create Sales Receipts window 
D) None of these A

Question 2

Name 3 (three)reasons why a job for a customer might be "pending".

Accepted Answer

A job might be pending because it is waiting on another condition to be met such as delivery of required parts,the contract is created but not signed,or to record customer charges as work is being performed but before final billing.

Question 3

All of the reports below provide information about customer and job profitability,except:

Accepted Answer

A) Customer Detail List 
B) Income by Customer Summary 
C) Income by Customer Detail 
D) Job Profitability Detail 
A) Customer Detail List 
B) Income by Customer Summary 
C) Income by Customer Detail 
D) Job Profitability Detail A

Question 4

Briefly explain the difference between creating a sales receipt and creating an invoice.

Accepted Answer

Creating a sales receipt is used when a

Question 5

From the Customers Section,"Assess Finance Charges" allows you to:

Accepted Answer

A) Re-calculate the correct payment when a discount is applied to a customer bill 
B) Re-calculate the correct payment when a bill is not paid to a vendor on time 
C) Add finance charges to customer bills when bills are not paid by the due date 
D) All of these 
A) Re-calculate the correct payment when a discount is applied to a customer bill 
B) Re-calculate the correct payment when a bill is not paid to a vendor on time 
C) Add finance charges to customer bills when bills are not paid by the due date 
D) All of these

Question 6

Which report provides information to help in tracking accounts receivable?

Accepted Answer

A) Customers with Open Invoices 
B) Accounts Receivable Aging Summary 
C) Collections Reports 
D) All of these 
A) Customers with Open Invoices 
B) Accounts Receivable Aging Summary 
C) Collections Reports 
D) All of these

Question 7

The Customer List in QuickBooks can be accessed from all of the following except:

Accepted Answer

A) Banking section of the Home page 
B) Customer section of the Home page 
C) Customer Menu 
D) Customer Center 
A) Banking section of the Home page 
B) Customer section of the Home page 
C) Customer Menu 
D) Customer Center

Question 8

To increase collections of payments,you can use all of the following QuickBooks features,except:

Accepted Answer

A) E-mail Invoices 
B) Customers with New Invoices Report 
C) Customers with Overdue Balances Report 
D) Reminder Statements 
A) E-mail Invoices 
B) Customers with New Invoices Report 
C) Customers with Overdue Balances Report 
D) Reminder Statements

Question 9

To print the Aging of Accounts Receivable report:

Accepted Answer

A) Select Customer Center,Customer & Receivables 
B) Select Company Center,Customer & Receivables 
C) Select Report Center,Company & Financials 
D) Select Report Center,Customer & Receivables 
A) Select Customer Center,Customer & Receivables 
B) Select Company Center,Customer & Receivables 
C) Select Report Center,Company & Financials 
D) Select Report Center,Customer & Receivables

Question 10

The Customer List stores all of the information listed below except:

Accepted Answer

A) Sales tax rates 
B) Notes about a project/job 
C) Project/job estimate information 
D) Customer transaction information 
A) Sales tax rates 
B) Notes about a project/job 
C) Project/job estimate information 
D) Customer transaction information

Question 11

Sales in QuickBooks can be recorded with all of the following means of payment,except:

Accepted Answer

A) Cash 
B) Check 
C) Credit Card 
D) Purchase Order 
A) Cash 
B) Check 
C) Credit Card 
D) Purchase Order

Question 12

To record a credit sale,select:

Accepted Answer

A) Create Purchase Order 
B) Sales Receipts 
C) Create Estimates 
D) None of these 
A) Create Purchase Order 
B) Sales Receipts 
C) Create Estimates 
D) None of these

Question 13

When recording a payment from a customer,if the customer does not send the full amount:

Accepted Answer

A) Record the full amount as paid and make a note in the To Do List to follow up with the customer regarding the remainder of the payment 
B) You can record the partial payment but must leave the funds in the Undeposited Funds account until receiving the full payment 
C) You must wait until the customer pays the full amount to record the payment 
D) Enter the amount received in the Amount field in the Customer Payment window 
A) Record the full amount as paid and make a note in the To Do List to follow up with the customer regarding the remainder of the payment 
B) You can record the partial payment but must leave the funds in the Undeposited Funds account until receiving the full payment 
C) You must wait until the customer pays the full amount to record the payment 
D) Enter the amount received in the Amount field in the Customer Payment window

Question 14

When recording a customer payment from a cash sale,select:

Accepted Answer

A) Create Invoice > Customer Payment > Customer Name Only 
B) Make Deposit 
C) Create Sales Receipt > Record Deposits 
D) Receive Payment > Customer & Job Name 
A) Create Invoice > Customer Payment > Customer Name Only 
B) Make Deposit 
C) Create Sales Receipt > Record Deposits 
D) Receive Payment > Customer & Job Name

Question 15

Online bill pay allows you to:

Accepted Answer

A) Sell goods over the internet 
B) Email invoices to customers 
C) Receive online payments from customers 
D) QuickBooks does not support online bill pay 
A) Sell goods over the internet 
B) Email invoices to customers 
C) Receive online payments from customers 
D) QuickBooks does not support online bill pay

Question 16

To add a new job to the Customer List:

Accepted Answer

A) Select Customer menu,Click Add Job 
B) Select Customer Center Window,Click New Customer & Job 
C) Select the Customer List icon from the Customer section of the Home page 
D) Select Report Center,add Customer 
A) Select Customer menu,Click Add Job 
B) Select Customer Center Window,Click New Customer & Job 
C) Select the Customer List icon from the Customer section of the Home page 
D) Select Report Center,add Customer

Question 17

From the Customers Section,"Create Credit Memos/Refunds" allows you to:

Accepted Answer

A) Record a refund or credit to a vendor account for returned or damaged merchandise 
B) Record a refund or credit to a customer account for returned or damaged merchandise 
C) Prepare a billing statement for a customer 
D) All of these 
A) Record a refund or credit to a vendor account for returned or damaged merchandise 
B) Record a refund or credit to a customer account for returned or damaged merchandise 
C) Prepare a billing statement for a customer 
D) All of these

Question 18

Which report provides information on customers who have overdue accounts?

Accepted Answer

A) Accounts Receivable Aging Summary 
B) Accounts Receivable Aging Detail 
C) Customers with Open Invoices 
D) Collections Report 
A) Accounts Receivable Aging Summary 
B) Accounts Receivable Aging Detail 
C) Customers with Open Invoices 
D) Collections Report

Question 19

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

Accepted Answer

A) Make Deposit 
B) Receive Payments 
C) Create Estimates 
D) All of these 
A) Make Deposit 
B) Receive Payments 
C) Create Estimates 
D) All of these

Question 20

The Job Profitability Summary Report is accessed from the:

Accepted Answer

A) Report Center 
B) Vendor Center 
C) Employee Center 
D) Company Center 
A) Report Center 
B) Vendor Center 
C) Employee Center 
D) Company Center

Credit sales are:

Name 3 (three)reasons why a job for a customer might be "pending".

All of the reports below provide information about customer and job profitability,except:

Briefly explain the difference between creating a sales receipt and creating an invoice.

From the Customers Section,"Assess Finance Charges" allows you to:

Which report provides information to help in tracking accounts receivable?

The Customer List in QuickBooks can be accessed from all of the following except:

To increase collections of payments,you can use all of the following QuickBooks features,except:

To print the Aging of Accounts Receivable report:

The Customer List stores all of the information listed below except:

Sales in QuickBooks can be recorded with all of the following means of payment,except:

To record a credit sale,select:

When recording a payment from a customer,if the customer does not send the full amount:

When recording a customer payment from a cash sale,select:

Online bill pay allows you to:

To add a new job to the Customer List:

From the Customers Section,"Create Credit Memos/Refunds" allows you to:

Which report provides information on customers who have overdue accounts?

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

The Job Profitability Summary Report is accessed from the:

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters

Exam 4: Household Finance

Credit sales are:

Name 3 (three)reasons why a job for a customer might be "pending".

All of the reports below provide information about customer and job profitability,except:

Briefly explain the difference between creating a sales receipt and creating an invoice.

From the Customers Section,"Assess Finance Charges" allows you to:

Which report provides information to help in tracking accounts receivable?

The Customer List in QuickBooks can be accessed from all of the following except:

To increase collections of payments,you can use all of the following QuickBooks features,except:

To print the Aging of Accounts Receivable report:

The Customer List stores all of the information listed below except:

Sales in QuickBooks can be recorded with all of the following means of payment,except:

To record a credit sale,select:

When recording a payment from a customer,if the customer does not send the full amount:

When recording a customer payment from a cash sale,select:

Online bill pay allows you to:

To add a new job to the Customer List:

From the Customers Section,"Create Credit Memos/Refunds" allows you to:

Which report provides information on customers who have overdue accounts?

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

The Job Profitability Summary Report is accessed from the:

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters