QuickBooks Chapter 7; Questions with Complete Solutions
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Module
QuickBooks
Institution
QuickBooks
QuickBooks Chapter 7; Questions with
Complete Solutions
Issue a _____ if a customer has been overbilled credit memo
Which 'behind the scenes' image shows what happens when you create a sales
form to sell an
inventory item? COGS credit 100, Inventory debit 100
The sales tax in Clara's area...
The sales tax in Clara's area has changed. What should she do? ✔✔Edit the
existing tax rate
What account is debited when a purchase order is created? ✔✔accounts
recievable
What report do you run to verify that goods were not received without applying
the receipt of
inventory to a purchase order? ✔✔purchase order by vendor detail
What account is collected sales tax held in? ✔✔sales tax payable liability
How you set up sales tax in QuickBooks depends entirely on: ✔✔the states in
which you
conduct business
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