Question 1

In Chapter 3,the account distribution for a sales receipt is:

Accepted Answer

A) Debit Sales; credit Checking. 
B) Debit Checking; credit Sales. 
C) Debit Accounts Payable/vendor; credit Checking. 
D) Debit Checking; credit Accounts Receivable. 
E) None. 
A) Debit Sales; credit Checking. 
B) Debit Checking; credit Sales. 
C) Debit Accounts Payable/vendor; credit Checking. 
D) Debit Checking; credit Accounts Receivable. 
E) None. B

Question 2

To view your company financial information,display transactions.

Accepted Answer

A) True 
 B)False  False

Question 3

________________________________are examples of checks,bills,and transfers.

Accepted Answer

A) Bank reconciliations. 
B) Custom reports. 
C) Specialized screens. 
D) Profit and Loss statements. 
E) All. 
A) Bank reconciliations. 
B) Custom reports. 
C) Specialized screens. 
D) Profit and Loss statements. 
E) All. C

Question 4

To go beyond QBO's customize report feature,save the recommended report as a PDF file.

Accepted Answer

A) True 
 B)False

Question 5

On the Create menu,select Invoices for cash sales.

Accepted Answer

A) True 
 B)False

Question 6

When QBO updates,accounts may be added automatically to the chart of accounts.

Accepted Answer

A) True 
 B)False

Question 7

Use the __________________________ to record a journal entry.

Accepted Answer

A) Settings menu. 
B) Create menu. 
C) From the home page,select vendors. 
D) Select the clock icon to show recent transactions. 
E) All. 
A) Settings menu. 
B) Create menu. 
C) From the home page,select vendors. 
D) Select the clock icon to show recent transactions. 
E) All.

Question 8

The Balance Sheet lists assets,liabilities,and equity.

Accepted Answer

A) True 
 B)False

Question 9

You can look at the Journal to see all the transactions that were entered.

Accepted Answer

A) True 
 B)False

Question 10

The __________________________ shows recently completed work.

Accepted Answer

A) Settings menu. 
B) Reports center. 
C) Activities list. 
D) Expenses. 
E) All. 
A) Settings menu. 
B) Reports center. 
C) Activities list. 
D) Expenses. 
E) All.

Question 11

The Profit and Loss statement shows the debit and credit balances of each account during a period of time.

Accepted Answer

A) True 
 B)False

Question 12

In Chapter 3,when a check is issued,the account distribution is a:

Accepted Answer

A) Debit Checking; credit an asset account. 
B) Debit expense account; credit vendor. 
C) Debit Accounts Receivable/Customer; credit Sales. 
D) Debit expense account; credit Checking. 
E) None 
A) Debit Checking; credit an asset account. 
B) Debit expense account; credit vendor. 
C) Debit Accounts Receivable/Customer; credit Sales. 
D) Debit expense account; credit Checking. 
E) None

Question 13

Written evidence of a business transaction such as invoices,sales receipts,bank statements:

Accepted Answer

A) Journal entry. 
B) Source documents. 
C) Trial balance. 
D) Activities on the Home page. 
E) None. 
A) Journal entry. 
B) Source documents. 
C) Trial balance. 
D) Activities on the Home page. 
E) None.

Question 14

After analyzing the transaction and typing the transaction date,complete this task:

Accepted Answer

A) Display the Balance Sheet. 
B) Select Run report. 
C) Input transaction. 
D) Refer to the account distribution. 
E) All. 
A) Display the Balance Sheet. 
B) Select Run report. 
C) Input transaction. 
D) Refer to the account distribution. 
E) All.

Question 15

Sales receipts are included in the Customers list.

Accepted Answer

A) True 
 B)False

Question 16

In Chapter 3,to check that you are starting in the correct place in the data display the:

Accepted Answer

A) Balance Sheet. 
B) Trial Balance. 
C) Transaction Register. 
D) Account List. 
E) None. 
A) Balance Sheet. 
B) Trial Balance. 
C) Transaction Register. 
D) Account List. 
E) None.

Question 17

A transaction in which there are at least two parts - a debit and a credit - also called distribution lines is called:

Accepted Answer

A) Register. 
B) Trial balance. 
C) Journal entry. 
D) Balance sheet. 
E) None 
A) Register. 
B) Trial balance. 
C) Journal entry. 
D) Balance sheet. 
E) None

Question 18

Funds can be transferred between Profit and Loss accounts but not Balance Sheet accounts.

Accepted Answer

A) True 
 B)False

Question 19

The month that the company,Cloud_Ware Student Name,starts is:

Accepted Answer

A) October. 
B) November. 
C) December. 
D) January. 
E) None. 
A) October. 
B) November. 
C) December. 
D) January. 
E) None.

Question 20

By default,each report shows data as of the current or today's date.

Accepted Answer

A) True 
 B)False

In Chapter 3,the account distribution for a sales receipt is:

To view your company financial information,display transactions.

________________________________are examples of checks,bills,and transfers.

To go beyond QBO's customize report feature,save the recommended report as a PDF file.

On the Create menu,select Invoices for cash sales.

When QBO updates,accounts may be added automatically to the chart of accounts.

Use the __________________________ to record a journal entry.

The Balance Sheet lists assets,liabilities,and equity.

You can look at the Journal to see all the transactions that were entered.

The __________________________ shows recently completed work.

The Profit and Loss statement shows the debit and credit balances of each account during a period of time.

In Chapter 3,when a check is issued,the account distribution is a:

Written evidence of a business transaction such as invoices,sales receipts,bank statements:

After analyzing the transaction and typing the transaction date,complete this task:

Sales receipts are included in the Customers list.

In Chapter 3,to check that you are starting in the correct place in the data display the:

A transaction in which there are at least two parts - a debit and a credit - also called distribution lines is called:

Funds can be transferred between Profit and Loss accounts but not Balance Sheet accounts.

The month that the company,Cloud_Ware Student Name,starts is:

By default,each report shows data as of the current or today's date.

Quickbooks Online Test-Drive

New Company Setup and the Chart of Accounts

Vendors and Inventory

Customers and Sales

December Source Documents

Analysis and Reportsend of Fourth Quarter and Year

January Source Documents

February Source Documents

February Source Documents

Certification, quick-Books Labs and Report Customization

Apps, updates and QB Online Blog

Filters

Exam 3: Beginning Balances and October Transaction Register

In Chapter 3,the account distribution for a sales receipt is:

To view your company financial information,display transactions.

________________________________are examples of checks,bills,and transfers.

To go beyond QBO's customize report feature,save the recommended report as a PDF file.

On the Create menu,select Invoices for cash sales.

When QBO updates,accounts may be added automatically to the chart of accounts.

Use the __________________________ to record a journal entry.

The Balance Sheet lists assets,liabilities,and equity.

You can look at the Journal to see all the transactions that were entered.

The __________________________ shows recently completed work.

The Profit and Loss statement shows the debit and credit balances of each account during a period of time.

In Chapter 3,when a check is issued,the account distribution is a:

Written evidence of a business transaction such as invoices,sales receipts,bank statements:

After analyzing the transaction and typing the transaction date,complete this task:

Sales receipts are included in the Customers list.

In Chapter 3,to check that you are starting in the correct place in the data display the:

A transaction in which there are at least two parts - a debit and a credit - also called distribution lines is called:

Funds can be transferred between Profit and Loss accounts but not Balance Sheet accounts.

The month that the company,Cloud_Ware Student Name,starts is:

By default,each report shows data as of the current or today's date.

Quickbooks Online Test-Drive

New Company Setup and the Chart of Accounts

Vendors and Inventory

Customers and Sales

December Source Documents

Analysis and Reportsend of Fourth Quarter and Year

January Source Documents

February Source Documents

February Source Documents

Certification, quick-Books Labs and Report Customization

Apps, updates and QB Online Blog

Filters