Quickbooks chapter 6 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 ...

Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False

To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasing products

To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasing products

Operating Activity Sales receipt Investing Activity Purchase of common stock Financing Activity Sale of a common stock Fixed Assets Long-term tangible property that a firm owns

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...

What are the two methods of New Company Setup in QuickBooks? Detailed Start and Express Start What is the QuickBooks Easy Step Interview window designed to do? helps you create and set up a new company file In addition to selecting the method of New Company Setup, what is the QuickBooks Setup window designed to do? allows you to enter information on customers, vendors, service items, and inventory part items After completing the Easy Step Interview and QuickBooks Setup windows you then ...

Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False Voiding a purchase order removes every trace of the purchase order from the company records. False

To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasing products Which of the following is not a vendor transaction? Make Deposits

Operating Activity Sales receipt Investing Activity Purchase of common stock Financing Activity Sale of a common stock Fixed Assets Long-term tangible property that a firm owns