. Which screen provides a summary of important company information?

Chapter 01 1 . Which screen provides a summary of important company information?

• Co

mpany Information

• Co

mpany Snapshot

• Home Page
• Co

mpany Center 2 . In QuickBooks, how do you can enter transaction information?

• On

screen forms and scanned images of transaction forms

• Onscreen

forms and QuickBooks reports

• Onscreen

Journal and scanned images of transaction forms

• Onscreen

Journal and Onscreen Forms 3 . All of the following are one of the four main categories of transactions in QuickBooks except?

• Ch

art of Accounts

• Cu

stomers

• Vendors
• Emp

loyees 4 . Which of the following tasks is completed from the Banking section of the Home page?

• En

ter credit card charges

• Pay

employees

• Reco

rd bills paid

• Record paymen

ts received from customers.5 . Which of the following tasks can be completed in the Vendor section of the Home page?

• Create In

voices

• Create Estimates
• Receive

Inventory

• Receive Paymen

ts 6 . The Chart of Accounts can be accessed from which section of the Home page?

• Cu

stomer

• Bankin

g

• Vendor
• Co

mpany 7 . To change a company name in QuickBooks, select the following from the Menu Bar:

• Co

mpany > Preferences

• Home > Edit >

Preferences

• Comp

any > My Company > Edit

• None of these

8 . Which of the following file types identifies a QuickBooks Portable file?

• .

QBM

• .

QBB

• .

QBX

• .

QBW 9 . Which one of the following activities is associated with the Customer section of the Home page?

• Pay

sales tax

• Enter bills
• Record

refunds and credits

• Reco

rd inventory received Computer Accounting with QuickBooks 2014 16e Donna Kay (Test Bank All Chapters, 100% Original Verified, A+ Grade) Answers At The End Of Each Chapter 1 / 4

1

• The Home page in QuickBooks consists of all of the following sections except:
• Emp

loyee

• Lists
• Cu

stomer

• Ven

dor 1

1. The objective of an accounting information system, like QuickBooks, is to:

• Sav

e company resources, like time and paper

• Use

the computer for keeping accounting records

• Co

llect, summarize, and analyze data

• No

ne of these 1

2. Accounting information is used to do all of the following except:

• Prep

are financial statements for investors

• Prep

are tax returns for the IRS

• Prep

are reports for management

• Prep

are meeting minutes for the board of directors 1

3. Your QuickBooks data can be stored in all of the following ways except:

• On

line

• Back

up

• Po

rtable File

• All

of these store QuickBooks data 1

4. A business transaction is an exchange between:

• Ven

dor

• Emp

loyee

• Cu

stomer

• All

of these 1

• Double-entry account records what is exchanged in a transaction (debits and credits). Which of the

fo llowing is recorded when a company purchases (receives) a computer and pays (gives) cash?

• Th

e computer is recorded as a credit and the cash is recorded as a credit

• Th

e computer is recorded as a debit and the cash is recorded as a debit

• Th

e computer is recorded as a credit and the cash is recorded as a debit

• Th

e computer is recorded as a debit and the cash is recorded as a credit 1

• The onscreen form for ordering items from a vendor looks like the paper version of a:
• Pu

rchase Order

• In

voice

• Ch

eck

• No

ne of these 1

• Which type of QuickBooks data file allows you to enter data and transactions?
• .

QBM

• .

QBB

• .

QBX

• .

QBW 1

8. The QuickBooks file extension .QBM indicates the file is a:

• Qu

ickBooks working file

• Qu

ickBooks movable file

• Qu

ickBooks Accountant's transfer file

• Qu

ickBooks Accountant's working file 2 / 4

19.The QuickBooks file extension .QBA indicates the file is a:  

A. QuickBooks working file B. QuickBooks movable file C. QuickBooks Accountant's transfer file D. QuickBooks Accountant's working file   20.Which QuickBooks window allows you to add your name to the checking account?   A. Chart of Accounts B. Company Information C. Company Center D. Check Register   21.The Banking section of the Home Page includes which flow chart?   A. Payroll flowchart B. Bank Reconciliation flowchart C. Bill Pay flow chart D. None of these   22.Which financial statement below summarizes the financial position of a company?   A. Statement of Cash Flows B. Profit & Loss Statement C. Balance Sheet D. Income Statement   23.Which financial statement below summarizes a company's earnings?   A. Statement of Cash Flows B. Profit & Loss Statement C. Balance Sheet D. Income Statement   24.Which financial statement below summarizes a company's cash inflow and outflow?   A. Statement of Cash Flows B. Profit & Loss Statement C. Balance Sheet D. Income Statement  

25.Management reports help identify:  

A. Overdue customer accounts B. Least profitable product C. Most profitable product D. All of these.  26.Which icon is used to add a document on your computer into QuickBooks?   A. Docs icon B. Customer icon C. Vendor icon D. All of these   27.List the 3 (three) different type of QuickBooks files. What is the purpose of each file type?        

  3 / 4

28.Name 2 (two) of the 5 centers on the QuickBooks home screen and briefly describe what kind of activity

flows through those centers:  

• / 4