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QuickBooks Chapter 6 Questions and Answers Already Passed £8.43   Add to cart
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Exam (elaborations)

QuickBooks Chapter 6 Questions and Answers Already Passed

Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False

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  • September 16, 2023
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • quickbooks chapter 6
  • quickbooks
  • quickbooks chapter 6 questions and answers alread
  • quickbooks chapter 6 questions and answers
  • quickbooks chapter 6 questions

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QuickBooks Chapter 6 Questions and
Answers Already Passed
Receipt of purchase order items is never recorded before the bill arrives. ✔✔False




A bill can be paid by check or credit card. ✔✔True




The Cost of Goods Sold account Merchandise Discounts is used to record discounts to

customers. ✔✔False




Voiding a purchase order removes every trace of the purchase order from the company records.

✔✔False




The Vendor Center displays the vendor list and information about individual vendors. ✔✔True




A single purchase order can be prepared and sent to several vendors. ✔✔False




Sales Tax account is automatically created if a company indicates that it charges sales tax on

sales. ✔✔True

, When a credit is received from a vendor for the return of merchandise, it may be applied to a

payment to the same vendor. ✔✔True




A new vendor cannot be added while recording a transaction. ✔✔False




A purchase order is closed automatically when a partial receipt of merchandise is recorded.

✔✔False




If you change the reorder point for an item, it becomes effective _____.

A. immediately

B. the beginning of next month

C. as soon as outstanding purchase orders are received


D. the beginning of the next fiscal year ✔✔immediately




If an order is received with a bill but is incomplete, QuickBooks will _____.

A. record the bill for the full amount ordered

B. record the bill only for the amount received

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