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QuickBooks Chapter 3 Questions and Answers Already Graded A+ £8.06   Add to cart
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QuickBooks Chapter 3 Questions and Answers Already Graded A+
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How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transac...

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  • September 16, 2023
  • 7
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • quickbooks chapter 3
  • quickbooks
  • quickbooks chapter 3 questions and answers alread
  • quickbooks chapter 3 questions and answers
  • quickbooks chapter 3 questions

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QuickBooks Chapter 5 Questions and
Answers Already Graded A
If a return is made after an invoice has been paid in full, a refund check is issued along with a

credit memo. ✔✔True




QuickBooks automatically applies a payment received to the most


current invoice. ✔✔False




Sales tax will be calculated automatically on an invoice if a


customer is marked taxable. ✔✔True




A new sales item may be added only at the beginning of a period. ✔✔False




Items on a Sales Order are immediately removed from inventory. ✔✔False




Report formats may be customized. ✔✔True

, The Discounts & Credits button on the Receive Payments window allows discounts to be applied

to invoices being paid by clicking Cancel. ✔✔False




Cash sales are recorded in the Receive Payments window and marked paid. ✔✔False




If a customer issues a check that is returned marked NSF, you may charge the customer the

amount of the bank charges and any penalty charges you impose. ✔✔True




Sales tax must be calculated manually and added to sales receipts. ✔✔False




Information regarding details of a customer's balance may be obtained by viewing ______.

A. the Trial Balance

B. the Customer Balance Summary Report

C. the Customer Balance Detail Report


D. an invoice for the customer ✔✔C. the Customer Balance Detail Report




Even though transactions are entered via business documents such as invoices and sales receipts,

QuickBooks keeps track of all

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