Quickbooks chapter 2 test Study guides, Class notes & Summaries

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...

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 ...

Modern Systems Analysis and Design, 8e (Valacich/George) Chapter 2 The Origins of Software 1) What is the practice of a company running a computer application for another organization? A) Outsourcing B) Information Technology Development C) In-house Payroll System D) Reusing Answer: A Difficulty: Easy AACSB: Information Technology LO: 2.1 Explain outsourcing Classification: Concept 2) Which of the following companies did Shell NOT outsource any of its operations to? A) E...

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 all sales forms, such as sales receipts and estimates. True 4: Privacy mode hides financial information only on the Dashboard. True 5: The Apps center link is found on both the Tools and the Pref...

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 You CANNOT edit a customer record after it has been created False You CANNOT merge more than two customer names at one time True Non-inventory items are tracked in the Cost of Goods...

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

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...

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...

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