Quickbooks chapter 4 test - Study guides, Class notes & Summaries

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 ...

Which of the following reports is not part of the period-end accounting reports? Pending Sales The Cost of Goods Sold account would fall into which of the following account types? Income and Expenses Which of the following is one of the financial reports that companies prepare at least once a year? Balance Sheet

Accrual-basis accounting matches the income from the period and the expenses for the period in order to determine the net income or net loss for the period. True In QuickBooks, the Journal is called the book of final entry. False An account may be deleted at any time.

Which of the following reports is not part of the period-end accounting reports? Pending Sales The Cost of Goods Sold account would fall into which of the following account types? Income and Expenses Which of the following is one of the financial reports that companies prepare at least once a year? Balance Sheet

Accrual-basis accounting matches the income from the period and the expenses for the period in order to determine the net income or net loss for the period. True In QuickBooks, the Journal is called the book of final entry. False An account may be deleted at any time. False

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...

Invoice Used when recording a sale on account Sales Receipt Used when cash is collected at the time of a sale Product Quantities of this are tracked

you can delete vendors in quickbooks online false You can have two vendors with the same name. false A vendor is a person or business you sell services or products to. false You can set up a new vendor only from the Vendors list. false

Test Bank, Practice exam quizzes for Computer Accounting with QuickBooks 2021 20e by Donna Kay. ISBN-10: 2 and ISBN-13: 7004 Chapter 1 QuickBooks Quick Tour: Navigation and Settings Chapter 2 QuickBooks Chart of Accounts Chapter 3 QuickBooks Transactions Chapter 4 Banking Chapter 5 Customers and Sales Chapter 6 Vendors and Expenses Chapter 7 Inventory Chapter 8 Employees and Payroll Chapter 9 QuickBooks Adjustments Chapter 10 QuickBooks Reports Chapter 11 QuickBooks Service Company ...

TEST BANK FOR COMPUTER ACCOUNTING WITH QUICKBOOKS ONLINE 1ST EDITION DONNA KAY 1 Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Computer Accounting with QuickBooks Online, 1e (Kay) Chapter 2 QBO Chart of Accounts 1) Which of the following statements is not true regarding QBO subaccounts? A) QBO automatically sets up Subaccounts commonly used by companies. B) QBO permits the u...