Question 1

To increase collections of payments, you can use all 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 B

Question 2

The Customer List stores all 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 A

Question 3

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

Question 4

Credit card 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 the above 
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 the above

Question 5

The Undeposited Funds account:

Accepted Answer

A) Partial payments received from customers 
B) Holds funds received by not deposited in the bank 
C) Funds the company owes vendors 
D) Petty Cash funds 
A) Partial payments received from customers 
B) Holds funds received by not deposited in the bank 
C) Funds the company owes vendors 
D) Petty Cash funds

Question 6

When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?

Accepted Answer

A) Purchase Order billing 
B) Estimates 
C) Progress billing 
D) Normal (end-of-job) billing 
A) Purchase Order billing 
B) Estimates 
C) Progress billing 
D) Normal (end-of-job) billing

Question 7

All 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

Question 8

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

Question 9

Sales in QuickBooks can be recorded with all 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 10

A Reminder Statement provides the following information, except:

Accepted Answer

A) Purchase Order details 
B) Customer's previous account balance 
C) Payments received from the customer 
D) Customer's ending balance 
A) Purchase Order details 
B) Customer's previous account balance 
C) Payments received from the customer 
D) Customer's ending balance

Question 11

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

Question 12

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 13

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 14

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

Question 15

Online billing 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 billing 
A) Sell goods over the Internet 
B) Email invoices to customers 
C) Receive online payments from customers 
D) QuickBooks does not support online billing

Question 16

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

Accepted Answer

A job might be pending because it is wai

Question 17

When a credit sale is recorded on an invoice, QuickBooks records:

Accepted Answer

A) An increase to Sales and a decrease to Accounts Receivable 
B) An increase to Sales and an increase to Accounts Payable 
C) An increase to Sales and an increase to Accounts Receivable 
D) A decrease to Sales and a decrease to Accounts Payable 
A) An increase to Sales and a decrease to Accounts Receivable 
B) An increase to Sales and an increase to Accounts Payable 
C) An increase to Sales and an increase to Accounts Receivable 
D) A decrease to Sales and a decrease to Accounts Payable

Question 18

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 19

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 20

The Finance Charges icon 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 by the due date 
C) Add finance charges to customer bills when bills are not paid by the due date 
D) All of the above 
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 by the due date 
C) Add finance charges to customer bills when bills are not paid by the due date 
D) All of the above

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

The Customer List stores all the information listed below except:

Which report provides information on customers who have overdue accounts?

Credit card sales are:

The Undeposited Funds account:

When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?

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

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

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

A Reminder Statement provides the following information, except:

Which report provides information to help in tracking accounts receivable?

Online bill pay allows you to:

To print the Aging of Accounts Receivable report:

The Job Profitability Summary Report is accessed from the:

Online billing allows you to:

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

When a credit sale is recorded on an invoice, QuickBooks records:

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:

The Finance Charges icon allows you to:

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Banking

Vendors, Purchases, and Inventory

Employees and Payroll

Reports and Graphs

New Company Setup

Accounting for a Service Company

Merchandising Corporation: Sales, Purchases and Inventory

Merchandising Corporation: Payroll

Advanced Quickbooks Features for Accountants

Filters

Exam 4: Customers and Sales

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

The Customer List stores all the information listed below except:

Which report provides information on customers who have overdue accounts?

Credit card sales are:

The Undeposited Funds account:

When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?

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

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

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

A Reminder Statement provides the following information, except:

Which report provides information to help in tracking accounts receivable?

Online bill pay allows you to:

To print the Aging of Accounts Receivable report:

The Job Profitability Summary Report is accessed from the:

Online billing allows you to:

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

When a credit sale is recorded on an invoice, QuickBooks records:

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:

The Finance Charges icon allows you to:

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Banking

Vendors, Purchases, and Inventory

Employees and Payroll

Reports and Graphs

New Company Setup

Accounting for a Service Company

Merchandising Corporation: Sales, Purchases and Inventory

Merchandising Corporation: Payroll

Advanced Quickbooks Features for Accountants

Filters