Quickbooks chapter 8 test - Study guides, Class notes & Summaries
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QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed
- Exam (elaborations) • 18 pages • 2023
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A company's computer is classified as what account type: 
a. Expense 
b. Owner's Equity 
c. Fixed Asset 
d. Retained Earnings 
c. Fixed Asset 
 
A corporation uses __________ as its Federal Tax ID number. 
a. the owner's social security number 
b. an EIN number 
c. business operating license number 
d. none of these 
b. an EIN number 
 
An account period may be: 
a. One quarter 
b. One month 
c. One year 
d. All of these d. All of these
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QuickBooks Quiz Chapter 8 (2023/2024) Already Passed
- Exam (elaborations) • 6 pages • 2023
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GONZOGEEK
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The company that hires the workers is referred to as the employer 
A(n) ____ is the person hired by a company who will receive salary or wages on a regular basis. 
employee 
Payroll involves all of the following except preparing a spreadsheet with government 
agencies names and addresses. 
Withholdings generally refer to the payroll taxes the employer is required to take out of the 
employee's paycheck and submit to the appropriate government agency. 
____ generally refer(s) to amounts taken...
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QuickBooks Chapter 8 Questions and Answers 100% Pass
- Exam (elaborations) • 7 pages • 2023
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To make sure you are starting in the correct place in the data, display the: 
A)January journal. 
B)Adjusted Trial Balance. 
C)January 1 Trial Balance. 
D)December 1-31 Balance Sheet. 
E)None of the above. C)January 1 Trial Balance 
 
In Chapter 8, all transactions occur in the month of: 
A)November. 
B)December. 
C)January. 
D)October. 
E)None of the above. C)January 
 
If you recorded fourth quarter transactions in 2017, January transactions are recorded for: 
A)2015. 
B)2016. 
C)2017. 
D)2018...
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QuickBooks Chapter 8 Questions and Answers 100% Pass
- Exam (elaborations) • 7 pages • 2023
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You cannot process payroll manually. False 
 
Once a paycheck has been printed, you may not edit it. False 
 
Paychecks may be printed only as a batch. False 
 
A payroll check may never be deleted. False
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QuickBooks Chapter 8 - New Company Setup Already Passed
- Exam (elaborations) • 5 pages • 2023
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In the Easy Step Interview, you must identify Type of industry, company name, and 
company address. All of these 
Which tax form would you select for a Subchapter S corporation? Form 1120S 
To create a new company data file in QuickBooks, use the: File menu > New Company 
When setting up a new company, QuickBooks automatically creates: Chart of accounts 
To edit an account in the Chart Of Accounts From the chart of accounts window > account > 
Edit Account 
The Doing Business as name ...
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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 Chapter 8 - New Company Setup Already Passed
- Exam (elaborations) • 5 pages • 2023
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In the Easy Step Interview, you must identify Type of industry, company name, and company address. All of these 
 
Which tax form would you select for a Subchapter S corporation? Form 1120S 
 
To create a new company data file in QuickBooks, use the: File menu > New Company
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QuickBooks chapter 8 (2023/2024) Rated A+
- Exam (elaborations) • 3 pages • 2023
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what are the steps to create a profit and loss budget? - gear icon 
- budgeting 
- add budget 
- enter info 
 
what value do budgets provide a business? - provide internal control over business activities - help ID and resolve problems 
 
why should a business reconcile a checking account? reconciliation helps ID any unusual transactions that can be caused by fraud or accounting errors.
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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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QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed ||Rated A+ (2024)
- Exam (elaborations) • 18 pages • 2024
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SMARTmindUS
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A company's computer is classified as what account type: 
a. Expense 
b. Owner's Equity 
c. Fixed Asset 
d. Retained Earnings c. Fixed Asset 
A corporation uses __________ as its Federal Tax ID number. 
a. the owner's social security number 
b. an EIN number 
c. business operating license number 
d. none of these b. an EIN number 
An account period may be: 
a. One quarter 
b. One month 
c. One year 
d. All of these d. All of these 
Examples of management reports for internal decision making i...
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