QuickBooks Exam study Guide
Questions and Answers 2024
+ New menu - Answer-Displays a list of categorized transactions
Top-Right navigation Tools - Answer-Include Help, Search, and Notifications
Gear Icon - Answer-Company, Lists, Tools, and Profile menus.
navigation bar - Answer-Gives Access to the various centers.
Assets - Answer-What the company owns
Expenses - Answer-Company-incurred expenditures.
Equity - Answer-the investment made into the company.
income - Answer-All the sales and fees earned.
liabilities - Answer-What the company owes.
What is the Chart of Accounts? - Answer-The list of accounts for each transaction in the
accounting system or general ledger.
Bank (account type) - Answer-Checking (detail type)
Income (account type) - Answer-Service/fee income (detail type)
Long term liabilities (account type) - Answer-Notes payable. (Detail type)
other Current assets (account type) - Answer-Prepaid expenses (Detail type)
Expenses (Account type) - Answer-Utilities (detail type)
Fixed Assets (Account type) - Answer-Machinery & Equipment (detail type)
Standard (user type) - Answer-This user can be granted limited or full access but no
admin privileges.
Company Admin (User type) - Answer-This user has full privileges and access to all
areas of the company file.
Reports (user type) - Answer-This user can display company information on screen or in
print. (.xlsx. , .pdf)
, Time Tracking (user type) - Answer-This user has permission only to log hours worked
in the software.
To remove a transation and still retain a record of it, use the ---- command. - Answer-
Void
Customer paid cash at the time of sale (action) - Answer-Create a sales receipt.
Customer shows twice in the customers list (action) - Answer-merge the customers
Customer is associated with multiple jobs (action) - Answer-Set up sub-customers.
Customer will pay at the end of the job. - Answer-Create an invoice.
Customer paid for a completed job. - Answer-applied to undeposited funds.
Invoice (form) - Answer-Used when a customer does not pay at the time of service.
Sales receipt (form) - Answer-use when a customer pays at the time of service.
Statement (form) - Answer-used to gather customer charges for a specific period.
Edit tool (sales form section/items) - Answer-manage settings and defaults for sales
form.
Online delivery (sales form section) - Answer-Set delivery terms and methods.
Statements (sales form section) - Answer-Set the level of detail shown for transactions.
Sales for content (sales form section.) - Answer-Sales forms are emailed.
Products and Services (Sales form section.) - Answer-Track inventory and choose
columns to display.
Messages (sales form section) - Answer-Customize emails
Identify false statement regarding vendor data. - Answer-use the import data tool to map
your vendors with their associated customers.
Expense (form to account it credits) - Answer-Credit card or bank account.
Check (form to account it credits) - Answer-Bank account.
Bill (form to account it credits) - Answer-accounts payable
Questions and Answers 2024
+ New menu - Answer-Displays a list of categorized transactions
Top-Right navigation Tools - Answer-Include Help, Search, and Notifications
Gear Icon - Answer-Company, Lists, Tools, and Profile menus.
navigation bar - Answer-Gives Access to the various centers.
Assets - Answer-What the company owns
Expenses - Answer-Company-incurred expenditures.
Equity - Answer-the investment made into the company.
income - Answer-All the sales and fees earned.
liabilities - Answer-What the company owes.
What is the Chart of Accounts? - Answer-The list of accounts for each transaction in the
accounting system or general ledger.
Bank (account type) - Answer-Checking (detail type)
Income (account type) - Answer-Service/fee income (detail type)
Long term liabilities (account type) - Answer-Notes payable. (Detail type)
other Current assets (account type) - Answer-Prepaid expenses (Detail type)
Expenses (Account type) - Answer-Utilities (detail type)
Fixed Assets (Account type) - Answer-Machinery & Equipment (detail type)
Standard (user type) - Answer-This user can be granted limited or full access but no
admin privileges.
Company Admin (User type) - Answer-This user has full privileges and access to all
areas of the company file.
Reports (user type) - Answer-This user can display company information on screen or in
print. (.xlsx. , .pdf)
, Time Tracking (user type) - Answer-This user has permission only to log hours worked
in the software.
To remove a transation and still retain a record of it, use the ---- command. - Answer-
Void
Customer paid cash at the time of sale (action) - Answer-Create a sales receipt.
Customer shows twice in the customers list (action) - Answer-merge the customers
Customer is associated with multiple jobs (action) - Answer-Set up sub-customers.
Customer will pay at the end of the job. - Answer-Create an invoice.
Customer paid for a completed job. - Answer-applied to undeposited funds.
Invoice (form) - Answer-Used when a customer does not pay at the time of service.
Sales receipt (form) - Answer-use when a customer pays at the time of service.
Statement (form) - Answer-used to gather customer charges for a specific period.
Edit tool (sales form section/items) - Answer-manage settings and defaults for sales
form.
Online delivery (sales form section) - Answer-Set delivery terms and methods.
Statements (sales form section) - Answer-Set the level of detail shown for transactions.
Sales for content (sales form section.) - Answer-Sales forms are emailed.
Products and Services (Sales form section.) - Answer-Track inventory and choose
columns to display.
Messages (sales form section) - Answer-Customize emails
Identify false statement regarding vendor data. - Answer-use the import data tool to map
your vendors with their associated customers.
Expense (form to account it credits) - Answer-Credit card or bank account.
Check (form to account it credits) - Answer-Bank account.
Bill (form to account it credits) - Answer-accounts payable
