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Computer Accounting Study Set 2
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Computer Accounting Study Set 2
Business
Quiz 8 :
January Source Documents
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Quiz 8 :
January Source Documents
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Use this source document for issuing checks:
Free
Multiple Choice
Q01
Answer:
Answer:
D
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To edit an account, go to Recent Transactions and drill down.
Free
True False
Q02
Answer:
Answer:
True
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In QuickBooks you can void a check if it was lost in the mail or never cashed.
Free
True False
Q03
Answer:
Answer:
True
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When recording Sales Receipts, use these steps:
Multiple Choice
Q04
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Vendor purchases on account are recorded on this page:
Multiple Choice
Q05
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What type of entries does the Journal report show?
Multiple Choice
Q06
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Do not delete a check if the check number has been used or if the check was printed.
True False
Q07
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All transactions occurred during January of the year after fourth-quarter transactions recorded in previous chapters.
True False
Q08
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In QBO, tracking inventory is automatically done.
True False
Q09
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What is the reason for NOT using the Journal Entry or Bank Deposit pages for recording sales?
Multiple Choice
Q10
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QB Online tracks Accounts Receivable (A/R)by entering a bill, then paying the bill.
True False
Q11
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Sales on account to customers are recorded on this page:
Multiple Choice
Q12
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If the debits do not equal the credits, QBO will allow you to post the transaction.
True False
Q13
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Vendor terms are Net 60.
True False
Q14
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To record vendor payments, use these steps:
Multiple Choice
Q15
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When inventory is purchased, Account 115 Merchandise Inventory is decreased.
True False
Q16
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The Accounts Payable Aging report shows that status of what you owe to vendors.
True False
Q17
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What is difference between a Sales Receipt and an Invoice?
Multiple Choice
Q18
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What is the sequence of steps to complete bank reconciliation?
Multiple Choice
Q19
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When recording customer payments, use these steps:
Multiple Choice
Q20
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