Test Bank For Computer Accounting with QuickBooks Online A Cloud Based Approach 4th Edition By Carol Yacht and Matthew Lowenkron Chapter 1-12 Answers are at the End of Each Chapter

Test Bank For Computer Accounting with QuickBooks Online A Cloud Based Approach 4th Edition By Carol Yacht and Matthew Lowenkron Chapter 1-12 Answers are at the End of Each Chapter
Test Bank For
Computer Accounting with QuickBooks Online A Cloud Based Approach 4th Edition By Carol
Yacht and Matthew Lowenkron
Chapter 1-12 Answers are at the End of Each Chapter
Chapter 1
Student name:__________
1) The Test Drive company is also known as:
A) Craig’s Design and Landscaping Services.
B) The sample company.
C) Populated company data used in Chapter 1.
D) A way to practice using the QuickBooks Online (QBO) user interface.
E) All of the choices are correct.
2) The link between the user and the software is called the:
A) Chart of Accounts.
B) General Ledger.
C) Navigation bar.
D) User interface.
E) All of the choices are correct.
3) To create transactions, use this icon:
A) Apps.
B) Gear.
C) + New.
D) Magnifying-glass.
E) All of the choices are correct.
4) To go to Account and settings, use this icon:
A) Question mark.
B) Gear.
C) Plus.
D) Magnifying-glass.
E) All of the choices are correct.
5) To see recent transactions, use this icon:
A) Question mark.
B) Gear.
C) Plus.
D) Magnifying-glass.
E) None of the choices are correct.
6) QuickBooks Online updates:
A) Automatically.
B) Never.
C) Every time you sign in and sign off.
D) At the end of the quarter.
E) All of the choices are correct.
7) When you sign out of the test drive, your data is:
A) Saved.
B) Not saved.
C) Exports to Excel.
D) Saved as PDF file.
E) All of the choices are correct.
8) A complete list of a business’s accounts and their balances is called:
A) Balance Sheet.
B) Income and expense accounts.
C) Trial Balance.
D) Chart of Accounts.
E) None of the choices are correct.
9) Accounts are used to classify transaction information for:
A) Additional detail.
B) Trial Balance.
C) Reporting purposes.
D) Cost of Sales.
E) All of the choices are correct.
10) This report lists transactions subtotaled by each account on the chart of accounts.
A) A/P Aging Summary.
B) Balance Sheet.
C) Profit and Loss.
D) Transaction Detail by Account.
E) All of the choices are correct.
11) A Chart of Accounts is a list of QBO’s reports.
⊚ true
⊚ false
12) Liability accounts usually start with the number 3000.
⊚ true
⊚ false
13) Subcategories for account classification are shown within the Type column on the Chart of
Accounts.
⊚ true
⊚ false
14) The balance sheet lists what you own (assets), what your debts are (liabilities), and what
you’ve invested (equity).
⊚ true
⊚ false
15) The Dashboard is the central place for getting an overview of the company.
⊚ true
⊚ false
16) Another name for the Profit and Loss report is the Income Statement.
⊚ true
⊚ false
17) To access customers, vendors, chart of accounts, and reports, use Notifications.
⊚ true
⊚ false
18) Craig’s Design and Landscaping Services includes populated data such as accounts, balances,
customers, etc.
⊚ true
⊚ false
19) To sign into the test-drive, use a web browser.
⊚ true
⊚ false
20) Each time you start the test-drive, a new session begins.
⊚ true
⊚ false

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