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16) What is the purpose of a non-posting account? A) To calculate expenses. B) To track information necessary to the accounting information system. C) To calculate income D) To identify owner's equity. 17) How do you access the Statement of Cash Flows report? Banking A) Report Center con B) Report Center icon> Company&Financial C) Company menu> Company Information D) Report Centericon> Accountant & Taxes 18) According to your text, the best approach to keep track of petty cash is: 18) A) Deposit the full amount of petty cash, then write a check for Petty Cash B) Keep cash on hand off the books C)Don't use it, use credit only D) None of these 19) Credit sales are: 19) A) Recorded in a Credit Card Sales window B) Recorded using the Create Sales Receipts window C) Recorded using a Create Invoices window D) None of these 20) How would you indicate that a payment is split between 2 or more accounts? 20) A) Skip it, it will be done automatically in Quick Books B) Use the notation "split" in your checking account C) Note on your invoices only D) None of these 21) Which of the following is considered a permanent account? 21) A) Balance Sheet accounts C) Both of these B) Income Statement accounts D) Neither of these 22) Which of the following steps will record a deposit? 22) A) Use the Make Deposits window B) Enter the information directly into the check register C) Neither of these D) Both of these 23) Which financial statement below summarizes a company's eamings? 23) A) Statement of Cash Flows C) Balance Sheet B) Profit &Loss Statement D) Income Statement

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