Quickbooks
Oxford University (OX)
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QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed
- Exam (elaborations) • 18 pages • 2023
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A company's computer is classified as what account type: 
a. Expense 
b. Owner's Equity 
c. Fixed Asset 
d. Retained Earnings c. Fixed Asset 
 
A corporation uses __________ as its Federal Tax ID number. 
a. the owner's social security number 
b. an EIN number 
c. business operating license number 
d. none of these b. an EIN number
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QuickBooks Chapter 3 (2022/2023) Rated A+
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Credit Memos are prepared to record a reduction to a transaction. True 
 
When using QuickBooks, checks may not be written in a checkbook. False 
 
QuickZoom is a QuickBooks feature that allows detailed information to be displayed. True
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QuickBooks Chapter 2 Test Latest Update Graded A+
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Subitems do NOT affect the accounting behind the scenes True 
To edit an existing transaction in QuickBooks, you void it and the re-create it False 
 
Lists in QuickBooks are used for storing your list of accounts False 
 
You CANNOT add information to a customer entry; you must enter the information into a job 
False
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QuickBooks Chapter 07 Questions and Answers Rated A+
- Exam (elaborations) • 8 pages • 2023
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1. A period that the company uses for accounting purposes and preparing financial statements. 
a. First quarter. 
b. Fourth quarter. 
c. Fiscal year. 
d. End of year. 
e. None. Fiscal year. 
 
2. A software design that emphasizes separating the functions of a program into independent, 
interchangeable components is called: 
a. A user interface. 
b. The operating system. 
c. Web-delivered software. 
d. Modules. 
e. All Modules.
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QuickBooks Chapter 1 Test Latest Update with Verified Solutions
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xData entry is the same in QuickBooks whether you use accrual or cash basis accounting True 
 
Always back up your company file to a location NOT on the same hard drive as the original file 
True 
 
The cash basis accounting means the sale transaction is recorded when the sale is made, and 
expenses are recorded when they are incurred False 
 
QuickBooks for Mac has the same basic look as the Windows version, but the functions are 
different False
Get paid weekly? You can!
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QuickBooks Chapter 6 Test with Certified Solutions
- Exam (elaborations) • 5 pages • 2023
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The Inventory Part window consists of two sides: one for sales information and one for purchase 
information True 
 
Inventory tracking is automatically activated when you create a company file False 
 
In QuickBooks, non-inventory parts are tracked in the same way as inventory parts False 
 
QuickBooks automatically creates your Sales Tax Liability account for you True
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QuickBooks Chapter 2 Test Latest Update Graded A+
- Exam (elaborations) • 5 pages • 2023
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Subitems do NOT affect the accounting behind the scenes True 
To edit an existing transaction in QuickBooks, you void it and the re-create it False 
 
Lists in QuickBooks are used for storing your list of accounts False 
 
You CANNOT add information to a customer entry; you must enter the information into a job 
False
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QuickBooks Chapter 7 Questions and Answers 100% Verified
- Exam (elaborations) • 7 pages • 2023
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The purpose of an adjusting entry is: 
A)Revenue was earned but not recorded. 
B)Expenses incurred but not recorded. 
C)To show the prepaid expense for one month. 
D)Customer paid in advance of receiving goods or services. 
E)All of the above. E)All of the above 
 
Adjusting entries are made on the: 
A)15th of every month 
.B)First day of the new year, meaning January 1. 
C)Last day of the month, quarter, or year. 
D)Adjusting entries are rarely recorded for a company. 
E)All of the above. C)Las...
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QuickBooks Chapter 3 Questions and Answers Already Graded A+
- Exam (elaborations) • 7 pages • 2023
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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 Transaction Report. 
c. Click Transaction in the account line of the Balance Sheet report to view the Transaction 
Report. 
d. None of these options. a
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QuickBooks Chapter 06 Questions and Answers Already Passed
- Exam (elaborations) • 7 pages • 2023
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1. Before completing the work within Chapter 6, check your data with the following report: 
a. December 1 Trial Balance. 
b. December 31 Trial Balance. 
c. November 30 P&L. 
d. November 1 Balance Sheet. 
e. None. December 1 Trial Balance. 
 
2. The action of sending money in payment of a bill is called a/an: 
a. Activity. 
b. Transaction. 
c. Remittance. 
d. General journal entry. 
e. None. Remittance.
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