Question 1

When paying a bill, QuickBooks automatically:

Accepted Answer

A) Records an expense (credit) and the obligation to pay later (debit) 
B) Records an expense (debit) and the obligation to pay later (credit) 
C) Reduces the liability (debit) and the checking account (credit) 
D) Reduces the liability (credit) and the checking account (debit) 
A) Records an expense (credit) and the obligation to pay later (debit) 
B) Records an expense (debit) and the obligation to pay later (credit) 
C) Reduces the liability (debit) and the checking account (credit) 
D) Reduces the liability (credit) and the checking account (debit)

Question 2

When the balance of an equity account, like Capital Stock, 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 3

The one-step approach (Write Checks window) can be used to pay which of the following?

Accepted Answer

A) Sales taxes 
B) Bills entered in the Enter Bills window 
C) Payroll checks 
D) None of these 
A) Sales taxes 
B) Bills entered in the Enter Bills window 
C) Payroll checks 
D) None of these

Question 4

To print multiple checks at one time:

Accepted Answer

A) Report Center > Banking > Checks 
B) Company menu > Banking > Checks 
C) Banking menu > Forms > Checks 
D) File menu > Print Forms > Checks 
A) Report Center > Banking > Checks 
B) Company menu > Banking > Checks 
C) Banking menu > Forms > Checks 
D) File menu > Print Forms > Checks

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

Documents that prove a transaction occurred are:

Accepted Answer

A) Source documents 
B) Receipts 
C) Paid invoices 
D) All of these 
A) Source documents 
B) Receipts 
C) Paid invoices 
D) All of these

Question 7

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 8

Examples of undeposited funds are:

Accepted Answer

A) Interest earned on the Checking account 
B) Customer payments recorded as received but not yet deposited 
C) Bank service charges 
D) Owner's investment 
A) Interest earned on the Checking account 
B) Customer payments recorded as received but not yet deposited 
C) Bank service charges 
D) Owner's investment

Question 9

When recording a bill, QuickBooks automatically:

Accepted Answer

A) Records an expense (credit) and the obligation to pay later (debit) 
B) Records an expense (debit) and the obligation to pay later (credit) 
C) Reduces the liability (debit) and the checking account (credit) 
D) Reduces the liability (credit) and the checking account (debit) 
A) Records an expense (credit) and the obligation to pay later (debit) 
B) Records an expense (debit) and the obligation to pay later (credit) 
C) Reduces the liability (debit) and the checking account (credit) 
D) Reduces the liability (credit) and the checking account (debit)

When paying a bill, QuickBooks automatically:

When the balance of an equity account, like Capital Stock, increases, it means that the account has been:

The one-step approach (Write Checks window) can be used to pay which of the following?

To print multiple checks at one time:

How can I create a filter on a Report?

Documents that prove a transaction occurred are:

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

Examples of undeposited funds are:

When recording a bill, QuickBooks automatically:

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Customers and Sales

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 3: Banking

When paying a bill, QuickBooks automatically:

When the balance of an equity account, like Capital Stock, increases, it means that the account has been:

The one-step approach (Write Checks window) can be used to pay which of the following?

To print multiple checks at one time:

How can I create a filter on a Report?

Documents that prove a transaction occurred are:

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

Examples of undeposited funds are:

When recording a bill, QuickBooks automatically:

Quick Tour of Quickbooks 2011

Customizing Quickbooks and the Chart of Accounts

Customers and Sales

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