70.2K

Verified Solution

Link Copied!

Which of the following does not appear on the QuickBooks Online Navigation Bar?

$2$ points

A$)$ Accounting

B$)$ Expenses

C$)$ Owners

D$)$ Sales

$2.$

Which of the following categories does not appear on the QuickBooks $(+)$ New screen?

$2$ points

A$)$ Banking

B$)$ Customers

C$)$ Employees

D$)$ Vendors

$3.$

How do you access QBO Account and Settings?

$2$ points

A$)(+)$ New icon

B$)$ Gear icon

C$)$ Search icon

D$)$ Help icon

$4.$ Select two from the following to display the Chart of Accounts?

$2$ points

A$)$ From the Navigation Bar, select Accounting

B$)$ From the Navigation Bar, select Customers $>$ Chart of Accounts

C$)$ From the $(+)$ New icon, select Chart of Accounts

D$)$ From the Gear icon, select Chart of Accounts

$5.$

In QBO, the Chart of Accounts displays which two of the following?

$2$ points

A$)$ QuickBooks Balance

B$)$ Bank Balance

C$)$ All account transactions

D$)$ None of the above

$6.$

To edit an account in the Chart of Accounts

$2$ points

A$)$ Display the Chart of Accounts, then select Edit

B$)$ Display the Chart of Accounts, then select Run Report drop$-$down arrow select Edit

C$)$ From $(+)$ New icon, select Chart of Accounts, select Delete

D$)$ None of the above

$7.$ An example of an Asset account is$?$

$2$ points

A$)$ Mortgage Payable

B$)$ Sales Tax Payable

C$)$ Equioment

D$)$ None of the above

$8.$

Income accounts for a company are used to track?

$2$ points

A$)$ Sales to customers and other revenue earned

B$)$ Costs that have expired or been consumed

C$)$ Cost of items sold to customers

D$)$ Purchase from vendors

$9.$ To inactivate an account in the Chart of Accounts

$2$ points

A$)$ Display the Chart of Accounts, then select Delete

B$)$ Display the Chart of Accounts, then select View Register drop$-$down

C$)$ From $(+)$ New icon, select chart of accounts, select Delete

D$)$ None of the above

$10.$

In QBO, information about transactions can be entered in onscreen forms, such as:

$2$ points

A$)$ Check

B$)$ Invoice

C$)$ Purchase order

D$)$ All of the above

$11.$

Which of the following two transactions are considered Customers and Sales transactions?

$2$ points

A$)$ Invoice

B$)$ Receive Payment

C$)$ Pay Bills

D$)$ Check

$12.$ QBO Lists include

$2$ points

A$)$ Chart of accounts

B$)$ Customers list

C$)$ Vendors list

D$)$ All of the above

$13.$

Which of the following QBO features can be used to save a transaction that will be re$-$used in the future?

$2$ points

A$)$ Saved transactions

B$)(+)$ New icon

C$)$ Recurring transactions

D$)$ dNone of the above

$14.$

The Checking Register

$2$ points

A$)$ Tracks company purchase orders and vendors

B$)$ Tracks company invoices and customers

C$)$ Records all transactions affecting the Checking account

D$)$ Lists all accounts and their account numbers

$15.$

If we are paying a bill immediately when we receive products or services, we can use the Expenses onscreen form when we pay with:

$2$ points

A$)$ Cash

B$)$ Check

C$)$ Credit card

D$)$ All of the above

$16.$

One of the objectives of reconciling bank statement is$?$

$2$ points

A$)$ To update the bank $$s records

B$)$ Update accounting records with unrecorded items

C$)$ To record monthly adjusting entries

D$)$ To update the Chart of Accounts

$17.$

When a customer pays cash at the time of sale, what do you record?

$2$ points

A$)$ A sales receipt

B$)$ An invoice

C$)$ A purchase order

D$)$ A thank you note

$18.$

When a customer purchases products or service but does not pay at the point of sale, what do you record?

$2$ points

A$)$ A sales receipt

B$)$ An Invoice

C$)$ A purchase order

D$)$ A reminder

$19.$

When a sale is recorded on an Invoice, QBO records a$?$

$2$ points

A$)$ Debit $($increase$)$ to cash

B$)$ Credit $($increase$)$ to owners contribution

C$)$ Debit $($increase$)$ to accounts receivable

D$)$ Credit $($increase$)$ to accounts payable

$20.$

Accounts Receivable $($A$/$R$)$ are?

$2$ points

A$)$ Amounts totaling the net worth of a company

B$)$ Amounts paid to owners

C$)$ Amounts that customers owe your business

D$)$ Amounts owed to others and are future obligations

Answer & Explanation Solved by verified expert

See Answer