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LESSON 1 (Getting Started) : Home Page
LESSON 1 (Getting Started) : Home Page
5. Which of the following is an asset? a. The date the business was created
c. Customers & Jobs list a. Automatically prefill last amount for this
payee
d. Item list
b. Automatically prefill last amount for this
8. Name at least three lists on which you
name
can merge items.
c. Automatically recall last transaction for
a. Chart of Accounts
this name
b. Item
d. Automatically recall previous transaction
c. Customer & Jobs for this payee
c. The amount of interest saved from paying 5. If you regularly invoice a customer for
off a loan early similar items or services, you can memorize
the invoice to save time.
d. The accumulation of a company’s net
income or loss from its start date 6. From which list (or lists) does
QuickBooks get the information for A, B,
5. Which of the following would not and C in the graphic below?
decrease the value of a company’s equity?
a. Customers & Jobs List
a. The company paying corporate dividends
b. Customers & Jobs list (if associated terms
b. The company incurring a net loss for the with the customer); Terms list
fiscal year
c. Item List
c. An owner drawing money out of the
company
2. When customers are returning items, you Inventory Part, Subtotal, Discount and
record the return on a credit memo Service
3. In QuickBooks you can record payments 8. On which of the following can you not
made using which of the following? use price levels?
a. Cash a. Invoices
b. Check
BIT
Questions and Answer
5. You paid a vendor $1,000 through the Pay c. Customers & Receivables
Bills window (using the Checking account). d. List
QuickBooks automatically creates a journal
entry that: 4. Report filters let you set custom criteria
for the transactions you want to include in a
a. Deletes the bill. report.
b. Shows $1,000 as a credit in Accounts 5. Once you’ve customized a preset report
Payable and $1,000 as a debit in the to meet your needs, how can you save your
Checking account. settings so you don’t have to customize the
c. Shows $1,000 as a debit in Accounts report each time you run it?
Payable and $1,000 as a credit in the
Checking account.
BIT
Questions and Answer
a. Choose save Settings from the Report a. Complete the physical inventory
menu worksheet
b. Choose save Setting from the File menu b. Enter an item receipt
c. Click Memorize on the button bar c. Adjust the quantity using the Adjust
Quantity/Value on Hand window
d. Click Modify then choose Memorize
d. None of the above
6. True or false: Once you’ve exported
report data to Excel, you can send modified 4. Which of the following provide you with
data back to QuickBooks. a list of all purchase orders created in a file?
2. You placed an order with a vendor for a. You can set up both taxable and non-
inventory parts. The items have arrived but taxable items
you have not received the bill yet. Which
option should you choose from the Vendors b. You can associate different sales tax rates
menu? with different customers
a. True
1. What is required in order for QuickBooks a. Group employees with the same pay
to calculate payroll? Tax tables frequency
a. Invoice
b. Sales Receipt
c. Credit Memo
d. Statement
e. Purchase Order