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Accounting Certification Practice Test -3 (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass $12.99
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Accounting Certification Practice Test -3 (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass
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Accounting Certification Practice Test -3 (2024 / 2025) Questions and Verified Answers, 100% Guarantee Pass

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  • August 28, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ACCT
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3.pdf file:///C:/Users/HP/Desktop/pppppp/Accounting%20Certification%20




Accounting Certification Practice Test #3


1. Which of the following statements is true regarding Undeposited Funds in

QuickBooks?

ANS Undeposited Funds is an account used to record payments before you make a deposit.

2. What is one reason to not use a bank deposit or journal entry screen to record sales?

ANS If you record sales through the bank deposit or journal entry screen, the sale will not appear

on sales reports.

3. Which form cannot be customized in QuickBooks?

ANS Bill

4. Which three statements are true about setting up a product or service

in QuickBooks Online? (Choose three)

ANS 1.You can use one product/service to represent different services or goods.

2. Products/Services allow you to track your sales in more detail without cluttering your Chart

of Accounts or Profit & Loss.

3. To create an invoice, you can use either a product or a service.

5. You are setting up a new product you will frequently need to purchase for your
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company.You want QuickBooks Online to provide fields to track the prod- uct. How do you

set up a new product to be tracked by QuickBooks?

ANS Enable the box, "I purchase this product/service from a supplier."

6. What transaction should you enter if a customer returns a damaged product, or in the

case of service, complains so much you decide to write them a check for a refund?

ANS Refund Receipt

7. For each statement below identify if the statement is True or False.

ANS True

You can enter a Sales Receipt if the Customer field is empty.

False

You can enter an Invoice if the Customer field is empty. You can enter a

Receive Payment if the customer field is empty.

8. For each statement below, determine whether it is related to QuickBooks Payments

or traditional Receive Payments.

These are automatically deposited in your bank account.

You customer clicks a link on their invoice email to pay via credit card.

Receive Payments

You must deposit these in the bank.You receive a check from your customer.
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9. You made a sale, and the customer paid the entire amount in cash. How do you enter

this sale into QuickBooks Online? Put the steps for entering this sale in the correct order.

Not all steps will be used.

ANS 1. Click the "+ New" icon.

2. Select the Sales Receipt.

3. Enter the sale and payment information.

4. Save the transaction.

10. Which are considered services? Choose two answers.

ANS 1. Tile Installation

2. A Home Inspection




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