Quickbooks chapter 5 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 ...

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...

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 When cash sales are recorded, use: A)Invoice. B)Bill. C)Customer payment. D)Sales Receipt. E)None. D)Sales Receipt What customers owe your business is known as: A)Accounts payable. B)Invoices. C)Accounts re...

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 When cash sales are recorded, use: A)Invoice. B)Bill. C)Customer payment. D)Sales Receipt. E)None. D)Sales Receipt

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 orde...

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 hold funds that have been received but have not yet been deposited into a bank account. true Bank feeds can be set up only for the business's bank accounts. false

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 hold funds that have been received but have not yet been deposited into a bank account. true

Purchase Order A formal means to order products from vendors Due on Receipt Terms that provide no credit Bill An invoice sent by a vendor to a customer Net 30 Pay a bill within 30 days after the bill date Item Detail Section Purchases that affect inventory are recorded here Account Detail Section Purchases that don't affect inventory are recorded here Pay Bills Paying vendors who have billed you

Purchase Order A formal means to order products from vendors Due on Receipt Terms that provide no credit Bill An invoice sent by a vendor to a customer Net 30 Pay a bill within 30 days after the bill date

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...