QuickBooks Online Certification Bundled Exams Questions and Answers (2022/2023) (Chapter 1-10) (Multiple Versions) with Verified Solutions

QuickBooks Chapter 5 (2022/2023) Graded A+ Describe the process for increasing or decreasing the width of a column in the listing of bills to pay. Select one: a. Click and hold your mouse between two columns and drag to the left to decrease the width of a column and drag to the right to increase ...

QuickBooks Online Chapter 5 Latest 2023 Graded A+ Only bank accounts are available in the Banking center in QuickBooks Online. false The For Review folder in the Banking center is for all the transactions that need to be reviewed and matched. true Undeposited Funds is a unique asset account to hol...

QuickBooks Chapter 5 Questions and Answers 100% Pass Before adding customers, check quickbooks: A) vendors B) inventory C) accounts and settings D) products and services list C) accounts and settings The customer page includes the: A)Adding a new customer. B)Customer list. C)Create invoice. ...

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 autom...

QuickBooks Chapter 5 Questions and Answers Passed with 100% In the perpetual inventory system, the inventory quantity and values are updated after each purchase and sale of inventory items This report shows all purchase information for each inventory item, including vendor name, cost per unit, quan...

QuickBooks Online - Chapter 6 Questions and Answers Graded A+ Operating Activity Sales receipt Investing Activity Purchase of common stock Financing Activity Sale of a common stock Fixed Assets Long-term tangible property that a firm owns Long-term investment A financial instrument that matures ...

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 ...

QuickBooks Quiz Chapter 6 (2022/2023) Already Passed What are the two methods of New Company Setup in QuickBooks? Detailed Start and Express Start What is the QuickBooks EasyStep Interview window designed to do? helps you create and set up a new company file In addition to selecting the method of...

QuickBooks Chapter 6 Test with Certified Solutions 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 ...

QuickBooks Chapter 06 Questions and Answers Already Passed 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...

QuickBooks Chapter 6 Already Graded A To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasi...

QuickBooks Chapter 7 Questions and Answers 100% Verified The owner's drawing account should be transferred to capital each week. False Even if entered elsewhere, all transactions are recorded in the Journal. True You must access the General Journal in order to close a period. False If Show All i...

QuickBooks Online - Chapter 7 Questions and Answers Already Passed Rate used to calculate an employee's social security tax 6.2% Rate used to calculate an employee's Medicare tax 1.45% Account used to record all payroll expenses Payroll Account used to record the liability for Federal Income ta...

QuickBooks Chapter 7 Questions and Answers 100% Verified 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....

QuickBooks Online Chapter 7 (2022/2023) Rated A+ You must have a product or service to create a purchase order. false When you purchase inventory, the purchases account increases. false Inventory tracking in QuickBooks Online allows you to define the costing method. false A non-inventory product ...

QuickBooks Chapter 7 Test Latest 2023 Rated A+ In a sole proprietorship, equity is what shareholders have invested in the company False Amortization is the process of a balance increasing over time False Treating bad debt as a discount is recommended because it reduces sales tax liability False A...

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 pr...

QuickBooks Chapter 7 with Certified Answers 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 has changed. What...

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 func...

QuickBooks Chapter 7 Questions and Answers Rated A+ To enter Customer and Sales transactions From the Create (+) icon, select the appropriate customer transaction To enter Vendor and Expense transactions From the Create (+) icon, select the appropriate vendor transaction QuickBooks considers all o...

QuickBooks Chapter 7 - Reports & Graphs Already Passed The order of the steps in the accounting cycle includes: Trial balance, adjusting entries, adjusted trial balance, financial reports What is an asset? What a company owns To record adjusting journal entries in QuickBooks, select: Accountant me...

QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed 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...

QuickBooks Chapter 8 Questions and Answers 100% Pass You cannot process payroll manually. False Once a paycheck has been printed, you may not edit it. False Paychecks may be printed only as a batch. False A payroll check may never be deleted. False Once an employee is hired, you may not change t...

QuickBooks chapter 8 (2022/2023) Rated A+ what are the steps to create a profit and loss budget? - gear icon - budgeting - add budget - enter info what value do budgets provide a business? - provide internal control over business activities - help ID and resolve problems why should a business reco...

QuickBooks Chapter 8 Questions and Answers 100% Pass To make sure you are starting in the correct place in the data, display the: A)January journal. B)Adjusted Trial Balance. C)January 1 Trial Balance. D)December 1-31 Balance Sheet. E)None of the above. C)January 1 Trial Balance In Chapter 8, ...

QuickBooks Quiz Chapter 8 (2022/2023) Already Passed The company that hires the workers is referred to as the employer A(n) ____ is the person hired by a company who will receive salary or wages on a regular basis. employee Payroll involves all of the following except preparing a spreadsheet with ...

QuickBooks Chapter 8 - New Company Setup Already Passed In the Easy Step Interview, you must identify Type of industry, company name, and company address. All of these Which tax form would you select for a Subchapter S corporation? Form 1120S To create a new company data file in QuickBooks, use th...

QuickBooks Chapter 9 Questions and Answers Already Passed On the Check # page, what icon is used to display checks issued? Clock icon What information from the Transaction Register does the Check # page verify? Check numbers, expense amounts, and balances On the Vendors page, how do you make payme...

QuickBooks Chapter 9 Test with Complete Answers 1: One advantage to customizing reports is that doing so makes the weekly or monthly reports consistent. True 2: You can create unlimited custom fields in a sales form. False 3: When you customize a field on one sales form, the change is applied to ...

QuickBooks chapter 9 Latest 2023 Rated A+ QuickBooks Online allows you to customize only some of the predefined reports. false You cannot add notes to QuickBooks Online reports. false To access the QuickBooks Online keyboard shortcuts in Windows, you tap [Ctrl]+[Alt]+[!]. false How can you hide/c...

QuickBooks Chapter 10 Questions and Answers Rated A+ Many companies maintain two checking accounts, one for paying bills and one used exclusively for payroll As a business grows in complexity, the need for special purpose accounts grows accordingly. The process of determining the correct cash bal...

QuickBooks Chapter 10 Test Questions and Answers 100% Pass Although the preset reports DON'T include default headers/footers, you can create them False Take care to use lists in QuickBooks only for their intended purposes False Consistency in entries is the key to using custom fields effectively...

Chapter 10 QuickBooks Questions and Answers Already Passed In Chapter 10, use the ______________________ to reconcile Account 101 Checking. a. Activity list. b. Account and Settings. c. Vendor purchases. d. Bank statement. e. None Bank statement March 31 is the end of the: a. Fourth quarter. ...

QuickBooks Ch. 10 (2022/2023) Rated A+ Prudence The methods least likely to overstate assets and income are used. Consistency The same accounting methods are used year to year. Revenue recognition Publicly traded companies record when revenue is earned. Objectivity Business statements are imparti...