Academic Treasure

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 the width of a column. b. Hover your mouse over the column to see a menu with the options to increase or decrease the width of the column. c. None of these options. a Describe the steps to create a new product from within a purchase...

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, quantity purchased, and total cost. Purchases by Item Detail In the periodic inventory system, separate records __________ maintained for inventory items, and the inventory account __________ adjusted for purchases and sales. are not; is not

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 automatically on an invoice if a customer is marked taxable. True

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. D)Export to Excel. E)All. E)All

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 In a sole proprietorship, an owner's name is added to the Vendor List for recording withdrawals. False

How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transaction Report. c. Click Transaction in the account line of the Balance Sheet report to view the Transaction Report. d. None of these options. a

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

Credit Memos are prepared to record a reduction to a transaction. True When using QuickBooks, checks may not be written in a checkbook. False QuickZoom is a QuickBooks feature that allows detailed information to be displayed. True

How are bank charges, which have not been recorded in QBO, classified? Bank charges which have not yet been recorded in QBO are not recognized and are temporarily classified as Uncategorized Expense. How are bank deposits, which have not been recorded in QBO, classified? Select one: a. Bank deposits which have not yet been recorded in QBO are temporarily classified as To Be Categorized Income. b. Bank deposits which have not yet been recorded in QBO are recognized and classified as ...