Question 1

When the balance of an asset account,like Checking,increases,it means that the account has been:

Accepted Answer

A) Debited 
B) Credited 
C) Deposited 
D) None of these 
A) Debited 
B) Credited 
C) Deposited 
D) None of these

Question 2

The Check Register:

Accepted Answer

A) Lists all accounts and their account numbers 
B) Records payments and deposits to the Checking account 
C) Is located directly on the Company section of the Home page 
D) Keeps track of company deposits only 
A) Lists all accounts and their account numbers 
B) Records payments and deposits to the Checking account 
C) Is located directly on the Company section of the Home page 
D) Keeps track of company deposits only

Question 3

A business checking account may be used for which of the following purchases?

Accepted Answer

A) Furniture for the office 
B) Furniture for the owner's home 
C) Utility bills for the owner 
D) Owner's car payment 
A) Furniture for the office 
B) Furniture for the owner's home 
C) Utility bills for the owner 
D) Owner's car payment

Question 4

The two-step approach for writing checks must be used to pay which of the following?

Accepted Answer

A) Rent Payments 
B) Legal Services 
C) Sales Taxes 
D) None of these 
A) Rent Payments 
B) Legal Services 
C) Sales Taxes 
D) None of these

Question 5

How can I create a filter on a Report?

Accepted Answer

A) Click Customize Report,then click Filters Tab 
B) Click Customize Report,then click Company Tab 
C) Click Customize Report,then click Edit 
D) None of these 
A) Click Customize Report,then click Filters Tab 
B) Click Customize Report,then click Company Tab 
C) Click Customize Report,then click Edit 
D) None of these

Question 6

When deleting a check all of the following is true except:

Accepted Answer

A) It is better to delete the check than void the check in order to erase all records of the transaction 
B) The deleted check no longer appears in the check register 
C) QuickBooks changes the amount deducted in the check register to zero 
D) All of these are true 
A) It is better to delete the check than void the check in order to erase all records of the transaction 
B) The deleted check no longer appears in the check register 
C) QuickBooks changes the amount deducted in the check register to zero 
D) All of these are true

Question 7

Which of the following steps will record a deposit?

Accepted Answer

A) Use the Make Deposits window. 
B) Enter the information directly into the check register. 
C) None of these 
D) Both use the Make Deposits window and enter the information directly into the check register. 
A) Use the Make Deposits window. 
B) Enter the information directly into the check register. 
C) None of these 
D) Both use the Make Deposits window and enter the information directly into the check register.

Question 8

According to your text,the best approach to keep track of petty cash is:

Accepted Answer

A) Don't use it,use credit only 
B) Deposit the full amount of petty cash,then write a check for Petty Cash 
C) Keep cash on hand off the books 
D) None of these 
A) Don't use it,use credit only 
B) Deposit the full amount of petty cash,then write a check for Petty Cash 
C) Keep cash on hand off the books 
D) None of these

Question 9

How would you indicate that a payment is split between 2 or more accounts?

Accepted Answer

A) Use the notation "split" in your checking account 
B) Skip it;it will be done automatically in QuickBooks 
C) Note on your invoices only 
D) None of these 
A) Use the notation "split" in your checking account 
B) Skip it;it will be done automatically in QuickBooks 
C) Note on your invoices only 
D) None of these

When the balance of an asset account,like Checking,increases,it means that the account has been:

The Check Register:

A business checking account may be used for which of the following purchases?

The two-step approach for writing checks must be used to pay which of the following?

How can I create a filter on a Report?

When deleting a check all of the following is true except:

Which of the following steps will record a deposit?

According to your text,the best approach to keep track of petty cash is:

How would you indicate that a payment is split between 2 or more accounts?

Introduction to PFP

Time Value of Money

Household Finance

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters

Exam 3: Beginning the Planning Process

When the balance of an asset account,like Checking,increases,it means that the account has been:

The Check Register:

A business checking account may be used for which of the following purchases?

The two-step approach for writing checks must be used to pay which of the following?

How can I create a filter on a Report?

When deleting a check all of the following is true except:

Which of the following steps will record a deposit?

According to your text,the best approach to keep track of petty cash is:

How would you indicate that a payment is split between 2 or more accounts?

Introduction to PFP

Time Value of Money

Household Finance

Financial Statements Analysis

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Filters