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Question 1 4 out of 4 points

When recording a customer payment from a cash sale, select:

A. Create Invoice > Customer Payment > Customer Name Only

B. Make Deposit

C. Create Sales Receipt > Record Deposits

D. Receive Payment > Customer & Job Name

Selected Answer: C. [None Given]

Correct Answer: C. [None]


When recording a payment from a customer, if the customer does not send

the full amount:

A. Record the full amount as paid and make a note in the To Do List to

follow up with the customer regarding the remainder of the payment

B. You can record the partial payment but must leave the funds in theUndeposited Funds account until receiving the full payment

C. You must wait until the customer pays the full amount to record the

payment

D. Enter the amount received in the Amount field in the Customer Payment

window

Selected Answer: B. [None Given]

Correct Answer: D. [None]

Feedback: When recording a payment from a customer, if the customer does notsend the full amount:Enter the amount received in the Amount field in the Customer Paymentwindow


Which one of the following activities is notshown in the Vendor section of

the Home page?

A. Write Checks

B. Pay Sales Taxes

C. Pay Bills

D. Purchase Orders

Selected Answer: A. [None Given]

Correct Answer: A. [None]


Which one of the following is usually classified as an inventory item?

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A. Goods purchased for resale to customers

B. Items purchased and the quantity on hand does not need to be tracked

C. Items purchased and used by the company such as office supplies

D. Items purchased for a specific customer job




What QuickBooks activity comes next in this string of business activities:

Invoice > Receive Payments > ______

A. Deposit

B. Receive Payments

C. Pay Bills

D. Vendor List

Selected Answer: A. [None Given]Correct Answer: A. [None]


Sales in QuickBooks can be recorded with all the following means of

payment, except:

A. Cash

B. Check

C. Credit Card

D. Purchase Order

Selected Answer: D. [None Given]



When a credit sale is recorded on an invoice, QuickBooks records:

A. An increase to Sales and a decrease to Accounts Receivable

B. An increase to Sales and an increase to Accounts Payable

C. An increase to Sales and an increase to Accounts Receivable

D. A decrease to Sales and a decrease to Accounts Payable


Correct Answer: C. [None]Question 8 4 out of 4 points

When recording a customer payment from a credit sale, select:

A. Create Invoice > Customer Payment > Customer & Job Name

B. Make Deposit

C. Create Sales Receipt > Record Deposits

D. Receive Payment > Customer & Job Name

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The Purchase Orders window is used to record which one of the followingtransactions?

A. A customer order to purchase goods

B. An order to purchase goods from a vendor

C. Services received but not yet paid

D. Cash purchases of supplies


Correct Answer: B. [None]

Question 10 4 out of 4 pointsTo record a credit sale, select:

A. Create Purchase Order

B. Sales Receipts

C. Create Estimates

D. None of the above




The Customer List in QuickBooks can be accessed from all of thefollowing except:

A. Banking section of the Home page

B. Customer section of the Home page

C. Customer Menu

D. Customer Center




Which report summarizes accounts payable balances by the age of the

account?

A. Accounts Payable Aging Detail

B. Accounts Payable Aging Summary

C. Purchases by Vendor Summary

D. Purchases by Item Summary

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Which order of tasks is used when purchasing inventory?

A. Enter Bills; Pay Bills

B. Enter Invoice; Write Check

C. Purchase Order; Receive Bill; Pay Bills

D. Purchase Requisition; Receive Inventory; Pay Bills




The Undeposited Funds account:

A. Partial payments received from customers

B. Holds funds received but not deposited in the bankC. Funds the company owes vendors

D. Petty Cash funds




Which one of the following is a vendor transaction?

A. Make Deposits

B. Receive Customer PaymentsC. Enter Bills

D. Sell Goods to Customers




Which of the following activities and QuickBooks window used to record

it is incorrect?

A. Sell goods and bill customers; Invoice

B. Record inventory information; Inventory List

C. Record vendor information; Vendor List

D. Order goods; Purchase Order

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Feedback: Record inventory information; Inventory List


Which one of the following activities is notshown in the Customer sectionof the Home page?

A. Make Deposit

B. Receive Payments

C. Create Estimates

D. All of the above




To print the Aging of Accounts Receivable report:A. Select Customer Center, Customer & Receivables

B. Select Company Center, Customer & Receivables

C. Select Report Center, Company & Financials

D. Select Report Center, Customer & Receivables




To add a new job to the Customer List:

A. Select Customer menu, Add JobB. Select Customer Center, New Customer & Job

C. Select the Customer List icon from the Customer section of the Home

page

D. Select Report Center, add Customer



Feedback: To add a new job to the Customer List: Select Customer Center, NewCustomer & Job


Which one of the following is a customer transaction?

A. Record Customer Information

B. Receive Customer Payments

C. Sell Goods to Customers

D. All the above

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The Refunds & Credits icon allows you to:

A. Record a refund or credit to a vendor account for returned or damagedmerchandize

B. Record a refund or credit to a customer account for returned or damaged

merchandize

C. Prepare a billing statement for a customer

D. All of the above




QuickBooks considers all of the following to be vendors except:

A. Financial institutions such as banks

B. Tax agencies such as the IRS

C. Utility companies

D. All of the above are vendors




The Purchase Orders window is used to record which one of the following

transactions?

A. Cash purchases of supplies

B. Services received but not yet paid

C. An order to purchase goods from a vendor

D. A customer order to purchase goods




What QuickBooks activity comes next in this string of business activities:

Purchase Order > Receive Items > Enter Bills > ______

A. Receive PaymentsB. Pay Bills

C. Deposit

D. Vendor List



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Vendor reports can be accessed in QuickBooks in all of the following ways

except:

A. Report Center.

B. Vendor Center

C. Report MenuD. Company Center



Feedback: Vendor reports can be accessed from the Report Center, VendorCenter and Report Menu

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