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Last Name (IN CAPS) Name (IN CAPS Choose the one alternative that best completes the statement or answers MULTIPLE CHOICE. question. 1) What does the Chart of Accounts list? A) Owner's contributions B) Income and expense accounts C) Assets, liabilities and owner's equity accounts D) All of these 2) When the balance of an cquity account, like Capital Stock, increases, it means that the account has been: A) Deposited C) Creditecd B) Debited D) None of these 3) The Home page in QuickBooks consists of all the following sections except A) Vendor B) Employee C) Lists D) Customer 4) When reconciling the bank statement using QuickBooks: A) Service charges are added B) All deposits listed on the bank statement are selected as cleared in the Reconcile window C) Interest earned is subtracted D) All of these 5) Double-entry account records are exchanged in a transaction (debits and credits). Which of the following is recorded when a company purchases (receives) a computer and pays (gives) cash? A) The computer is recorded as a debit and the cash is recorded as a credit B) The computer is recorded as a debit and the cash is recorded as a debit C) The computer is recorded as a credit and the cash is recorded as a credit D) The computer is recorded as a credit and the cash is recorded as a debit 6) Accounting information is used to do all of the following except: A) Prepare tax returns for the IRS B) Prepare reports for management C) Prepare meeting minutes for the board of directors D) Prepare financial statements for investors 7) The Chart of Accounts can be accessed from which section of the Home page? A) Vendor B) Banking C) Customer D) Company

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