Quickbooks chapter 3 test - Study guides, Class notes & Summaries
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QuickBooks Chapter 07 Test with Certified Solutions GRADED A+ 2023|2024
- Exam (elaborations) • 4 pages • 2023
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BrittieDonald
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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 leavi...
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QuickBooks Mayterm Chapter 3 Test GRADED A+ 2023|2024 LATEST UPDATE
- Exam (elaborations) • 5 pages • 2023
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BrittieDonald
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QuickBooks Mayterm Chapter 3 Test 
Already Passed 
1: The Navigation bar is where the link to the Sales center is located. True 
2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the 
Sales center. True 
3: A sales transaction can only be recorded when the customer pays for the product or service at 
the time of the sale. False 
4: The sales form settings can be found in Account and Settings under the Your Company 
heading. True 
5: You cannot change ...
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QuickBooks Chapter 3 (2023/2024) Rated A+
- Exam (elaborations) • 6 pages • 2023
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GONZOGEEK
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A cash purchase can be recorded by writing a check or by using petty cash. True 
Once a report format has been customized as a QuickBooks preference for a company, 
QuickBooks will automatically use the customized format. True 
In a service business, most of the accounting for purchases and payables is simply paying bills 
for expenses incurred in the operation of the business. True
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QuickBooks Mayterm Chapter 3 Test Already Passed
- Exam (elaborations) • 5 pages • 2023
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GONZOGEEK
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The Navigation bar is where the link to the Sales center is located. True 
2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the 
Sales center. True 
3: A sales transaction can only be recorded when the customer pays for the product or service at 
the time of the sale. False 
4: The sales form settings can be found in Account and Settings under the Your Company 
heading. True
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ACCT 1080 EXAM 3 ACCT1080 VERIFIED Q & A (2022-2023).
- Exam (elaborations) • 57 pages • 2022
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PatrickHaller
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ACCT 1080 EXAM 3 (ACCT1080) 
 
 
Key Terms & Definitions: 
•	Direct Write-off Method and Allowance Method. Which does GAAP require? 
•	Cash Ratio. What does a higher number indicate? 
•	Maturity Value of a Note is.. 
•	Acid Test Ratio 
•	Days Sales in Receivables 
•	A/R Turnover Ratio 
 
SAMPLE PROBLEMS: 
Chapter 7	Accounting Information Systems 
 
Learning Objective 7-1 
 
An accounting information system (AIS) collects, records, stores, and processes accounting data to produce info...
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QuickBooks Mayterm Chapter 3 Test Already Passed
- Exam (elaborations) • 5 pages • 2023
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UndisputedPundit
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1: The Navigation bar is where the link to the Sales center is located. True 
 
2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the Sales center. True 
 
3: A sales transaction can only be recorded when the customer pays for the product or service at the time of the sale. False
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QuickBooks Online - Chapter 3 Already Passed
- Exam (elaborations) • 2 pages • 2023
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GONZOGEEK
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Transactions Report Transactions for an account for a specified date 
Trial Balance A listing of the debit or credit balances as of a specific date 
Journal Entry Commonly used to adjust accounts 
Opening Balance Equity Account used to offset beginning balances adjustments
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QuickBooks Mayterm Chapter 3 Test Already Passed
- Exam (elaborations) • 5 pages • 2023
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GOLDTUTORS
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1: The Navigation bar is where the link to the Sales center is located. True 
2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the 
Sales center. True 
3: A sales transaction can only be recorded when the customer pays for the product or service at 
the time of the sale. False
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QuickBooks Online - Chapter 3 Already Passed
- Exam (elaborations) • 2 pages • 2023
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UndisputedPundit
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Transactions Report Transactions for an account for a specified date 
 
Trial Balance A listing of the debit or credit balances as of a specific date 
 
Journal Entry Commonly used to adjust accounts

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ACCT 1080 EXAM 3 ACCT1080 VERIFIED Q & A (2022-2023)
- Exam (elaborations) • 57 pages • 2022
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PatrickHaller
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ACCT 1080 EXAM 3 ACCT1080 
VERIFIED 
Q & A 
2022-2023 
 
 
 
 
ACCT 1080 EXAM 3 (ACCT1080) 
 
 
Key Terms & Definitions: 
•	Direct Write-off Method and Allowance Method. Which does GAAP require? 
•	Cash Ratio. What does a higher number indicate? 
•	Maturity Value of a Note is.. 
•	Acid Test Ratio 
•	Days Sales in Receivables 
•	A/R Turnover Ratio 
 
SAMPLE PROBLEMS: 
Chapter 7	Accounting Information Systems 
 
Learning Objective 7-1 
 
An accounting information system (AIS) collect...
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