Quickbooks chapter 07 - Study guides, Revision notes & Summaries

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. 3. The accounts shown on the balance sheet are called: a. Permanent a...

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.

1.The Cost of Goods Sold in the Profit and Loss account increases when you sell a product. True 2: There is no limit to the number of inventory products you can enter in QuickBooks Online. True 3: The difference between the cost and the sales price is an expense. false 4: You can verify goods were NOT received without applying the receipt of inventory to a purchase order. true 5: QuickBooks Online can receive incomplete orders by leaving the purchase order until the complete order has ar...

QuickBooks Chapter 07 Questions and Answers Rated A+ 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. 3. The accounts sho...

QuickBooks Chapter 07 (Latest); Questions and Answers 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 yea

1.The Cost of Goods Sold in the Profit and Loss account increases when you sell a product. True 2: There is no limit to the number of inventory products you can enter in QuickBooks Online. True 3: The difference between the cost and the sales price is an expense. false 4: You can verify goods were NOT received without applying the receipt of inventory to a purchase order. true 5: QuickBooks Online can receive incomplete orders by leaving the purchase order until the complete order has ar...

QuickBooks Chapter 07 Test with Certified Solutions 1.The Cost of Goods Sold in the Profit and Loss account increases when you sell a product. True 2: There is no limit to the number of inventory products you can enter in QuickBooks Online. True 3: The difference between the cost and the sales price is an expense. false 4: You can verify goods were NOT received without applying the receipt of inventory to a purchase order. true 5: QuickBooks Online can receive incomplete orders by leaving t...

QuickBooks Chapter 07 Test ; Questions and Answers 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

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.

QuickBooks Chapter 07 Questions and Answers Rated A+ 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. 3. The accounts...