Computer Accounting Study Set 2

Business

Quiz 5 :

Customers and Sales

Quiz 5 :

Customers and Sales

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To start Chapter 5, what data should you check?
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Multiple Choice
Answer:

Answer:

C

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If all customer payments have been received, the A/R Aging Summary has a zero balance.
Free
True False
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Answer:

True

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To view the customers added in Chapter 5, go to:
Free
Multiple Choice
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Answer:

B

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A credit memo affects the customer's balance.
True False
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Refunds for merchandise that is returned by a customer are called:
Multiple Choice
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On invoices and other sales transactions, you select products or services which are associated with income accounts.
True False
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To make sure your customer transactions and refunds have been recorded, display the Accounts Payable A/P register.
True False
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Registers are a useful way to look at transactions and amounts associated with a particular account.
True False
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The preference for the customer label is:
Multiple Choice
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A Bank Statement shows the checks and deposits that cleared the bank.
True False
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This term identifies what customers owe your business:
Multiple Choice
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On the Customers page, you can:
Multiple Choice
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Use this page to record customer transactions on account:
Multiple Choice
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Once you issue an invoice to a customer, that customer owes your business money.
True False
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The Inventory Valuation Summary has the same balance as Account 101 Checking.
True False
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To edit a customer record, use:
Multiple Choice
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Distribution lines on a journal entry are also shown on the Statement of Cash Flows.
True False
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_________ are credit transactions from customers.
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The A/R Register has the same balance as Account 201 Accounts Payable.
True False
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Another term for Account and Settings selections is:
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