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99 Cards in this Set
- Front
- Back
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There are various methods of giving QuickBooks Pro commands, includinguse of QuickBooks Home Page, icon bar, menu bar, and keyboard shortcuts. |
T |
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A company file with a .qbw extension is used to record transactions. |
T |
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Once an account has been used, the name cannot be changed. |
F |
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If an error is made when entering a transaction, QuickBooks Pro will not allow the user to return to the business document and make the correction. |
F |
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In a computerized accounting system, each transaction that is analyzed mustbe entered by hand into the appropriate journal and posted to the appropriateledger. |
F |
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QuickBooks Home Page appears beneath the title bar and has a list of dropdownmenus. |
F |
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If you use QuickBooks Pro to make a backup, you are actually having QuickBooks Pro create a condensed file that contains the essential transaction and account information. |
T |
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Alt key + a letter are used to access the drop-down menus on the menu bar. |
T |
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When you end your work session, you must close your company, close QuickBooks, and remove your USB drive properly. |
T |
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QuickBooks Learning Center must be shown whenever you open the company. |
F |
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The extension for a company file that may be used is A. .qbi B. .qbb C. .qbw D. .qbc |
C |
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A(n)____ is considered to be a list in QuickBooks Pro. A. Invoice B. Chart of Accounts C. Company D. none of the above |
B |
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QuickBooks Pro keyboard conventions . A. are keyboard command shortcuts B. use the mouse C. use certain keys in a manner consistent with Windows D. incorporate the use of QuickBooks Company Center |
C |
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Buttons on the toolbar and on the bottom of an invoice are used to . A. give commands to QuickBooks Pro B. exit QuickBooks Pro C. prepare reports D. show graphs of invoices prepared |
A |
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QuickMath displays . A. a calculator B. an adding machine tape C. a calculator with adding machine tape D. none of the above |
B |
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QuickBooks Home Page . A. allows you to give commands to QuickBooks Pro according to the type oftransaction being entered B. are icons shown below the menu bar C. appears above the menu bar D. appears at the bottom of the screen |
A. |
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An icon is . A. a document B. a picture C. a chart D. a type of software |
B |
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A way to find out the keyboard shortcuts for various commands is to look them up using . A. the Internet B. Help C. the File menu D. a Keyboard icon |
B |
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A .qbb extension on a file name means that the file is . A. open B. the working file C. a restored file D. is a backup file |
D |
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To verify the name of the open company, look at . A. the icon bar B. QuickBooks Home Page C. the menu bar D. the title bar |
D |
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1. Whether you are using a manual or a computerized accounting system, transactionsmust still be _________and ___________ |
analyzed and recorded |
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The _________menu is used to open and close a company and may also be used to exitQuickBooks Pro. |
File |
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The name of the company file in use is displayed on ___________ |
the title bar |
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In QuickBooks you may change the company name by clicking Company Information onthe ___________ menu. |
Company |
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The ____________ organizes tasks into logical groups (Vendors, Customers,Employees, Company, and Banking). |
Home Page |
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A new customer can be added to a company’s records on the fly. |
T |
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In QuickBooks Pro error correction for a sale on account can be accomplished by editing the invoice. |
T |
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A Sales Item List stores information about products you purchase. |
F |
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Once transactions have been entered, modifications to a customer’s account may be made only at the end of the fiscal year. |
F |
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In QuickBooks Pro all transactions must be entered using the traditional debit/credit method. |
F |
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Checks received for cash sales are held in the Undeposited Funds account until the bank deposit is made. |
T |
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When a correction for a transaction is made, QuickBooks Pro not only changes the form used to record the transaction, it also changes all journal and account entries for the transaction to reflect the correction. |
T |
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QuickGraphs allow information to be viewed from both a sales standpoint and from an accounts receivable perspective. |
T |
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QuickZoom allows you to print a report instantly. |
F |
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A customer’s payment on account is immediately recorded in the cash account. |
F |
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To remove an invoice without a trace, it is . A. voided B. deleted C. erased D. reversed |
B |
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To enter a cash sale, is completed. A. a debit B. an invoice C. a sales receipt D. receive payments |
C |
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Two primary types of lists used in this chapter are . A. receivables and payables B. invoices and checks C. registers and navigator D. customers and item |
D |
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While in the Customer Balance Summary Report, it is possible to get anindividual customer’s information by using . A. QuickReport B. QuickZoom C. QuickGraph D. QuickSummary |
B |
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Undeposited Funds represents . A. cash or checks received from customers but not yet deposited in bank B. all cash sales C. the balance of the accounts receivable account D. none of the above |
A |
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QuickBooks Pro uses graphs to illustrate information about . A. the chart of accounts B. sales C. the cash account D. supplies |
B |
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Changes to the chart of accounts may be made .A. at the beginning of a fiscal period B. before the end of the fiscal year C. at any time D. once established, the chart of accounts may not be modified |
C |
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To obtain information about sales by item, you can view . A. the income statement B. the trial balance C. receivables reports D. sales reports |
D |
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When you add a customer using the Set up method, you add . A. complete information for a customer B. only a customer’s name C. the customer’s name, address, and telephone number D. the customer’s name and telephone number |
A |
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The report used to view all the balances on account of each customer is the _______________. |
Customer Balance Summary Report |
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The form prepared to show a reduction to a sale on account is a(n) ____________. |
credit memo |
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The report that proves that debits equal credits is the________________ . |
trial balance |
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QuickBooks Pro shows icons on the __________ that may be clicked to open businessdocuments used in recording transactions. |
Home Page |
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To verify the company being used in QuickBooks Pro, you check the ________________ |
title bar heading |
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Credit Memos are prepared to record a reduction to a transaction. |
T |
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When using QuickBooks Pro, checks may not be written in a checkbook. |
F |
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QuickZoom is a QuickBooks Pro feature that allows detailed information to be displayed. |
T |
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A purchase can be recorded by writing a check or by using petty cash. |
T |
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Once a report format has been customized as a QuickBooks Pro preference for a company, QuickBooks Pro will automatically use the customized format. |
T |
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In a service business, most of the accounting for purchases and payables is simply paying bills for expenses incurred in the operation of the business. |
T |
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The accrual method of accounting matches the income of the period with the cash received for sales. |
F |
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A Missing Check Report lists any duplicate check numbers or gaps between check numbers. |
T |
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The Accounts Payable Register keeps track of all checks written in the business. |
F |
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If a check has been edited, it cannot be printed. |
F |
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1. When using QuickBooks graphs, information regarding the percentage ofaccounts payable owed to each vendor is displayed as a . A. pie chart B. bar chart C. line chart D. both A and B |
A |
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A check may be entered in . A. the Write Checks window B. the Check Register C. both A and B D. neither A nor B |
C |
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When you enter a bill, typing the first letter(s) of a vendor’s name on the Vendorline . A. enters the vendor’s name on the line if the name is in the Vendor List B. displays a list of vendor names C. displays the Address Info tab for the vendorD. indicates that you want to type the vendor name completely |
A |
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To erase an incorrect amount in a bill, you may , then key the correction. A. drag through the amount to highlight B. position the cursor in front of the amount and press the delete key until theamount has been erased C. position the cursor after the amount and press the backspace key until theamount has been erased D. all of the above |
D |
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When a document prints sideways, it is called orientation. A. portrait B. landscape C. standard D. horizontal |
B |
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A correction to a bill that has been recorded can be made on the bill or . A. not at all B. on the Accounts Payable Graph C. in the Accounts Payable Register D. none of the above |
C |
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When a bill is deleted, . A. the amount is changed to 0.00 B. .the word deleted appears as the Memo C. it is removed without a trace D. a bill cannot be deleted |
C |
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To increase the date on a bill by one day, . A. press the + key B. press the - key C. tab D. press the # key |
A |
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If a bill is recorded in the Enter Bills window, it is important to pay the bill by . A. writing a check B. using the Pay Bills window C. using petty cash D. allowing QuickBooks Pro to generate the check automatically five days beforethe due date |
B |
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When entering several bills at once on the Enter Bills screen, it is most efficientto to go to the next blank screen.A. click PreviousB. click Save & NewC. click OKD. click Preview |
B |
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The ___________ section of a check is used to record the check date, payee, and amountfor the actual check. The _________ section of a check is used to record the accounts usedfor the bill, the amount for each account used, and transaction explanations. |
check face detail |
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An Accounts Payable Graph by Aging Period shows a ________ chart detailing the amountsdue by aging period and a _____ chart showing the percentage of the total amountpayable owed to each vendor. |
bar pie |
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Three different check styles may be used in QuickBooks Pro: ______ , _______ , or _______ . |
standard , voucher , or wallet . |
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The keyboard shortcut to edit or modify a vendor’s record is _______ . |
Ctrl+E |
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Petty Cash is identified as a ______ account type so it will be placed at the top of theChart of Accounts along with checking and savings accounts |
Bank |
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Accrual-basis accounting matches the income from the period and the expensesfor the period in order to determine the net income or net loss for the period. |
T |
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In QuickBooks Pro, the Journal is called the book of final entry. |
F |
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An account may be deleted at any time. |
F |
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In a sole proprietorship, an owner’s name is added to the Vendor List for recording withdrawals. |
F |
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Additional investments made by an owner may be cash or non-cash items. |
T |
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QuickBooks Pro records every transaction in the Journal. |
T |
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QuickBooks Pro keeps the last two bank reconciliation reports in memory. |
T |
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Once an account has been used in a transaction, no changes may be made to the account name. |
F |
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Anything entered as a service charge or as interest earned during a bank reconciliation will be entered automatically when the reconciliation is complete. |
T |
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A Balance Sheet is prepared to prove the equality of debits and credits. |
F |
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To close a period, you must . A. have a closing password B. enter a closing date on the Company Preferences for Accounting C. enter a closing date on the Company Preferences for Reports D. enter the traditional closing entries in debit/credit format in the GeneralJourna |
B |
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When an account name such as “cars” is changed to “automobile”, thesubaccount “car depreciation” . A. needs to be changed to “automobile depreciation” B. is automatically changed to “automobile depreciation” C. cannot be changed D. must be deleted and re-entered |
A |
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The report that proves Assets = Liabilities + Owner’s Equity is the . A. Trial Balance B. Income Statement C. Profit and Loss Statement D. Balance Sheet |
D |
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If the adjusting entry to transfer net income/retained earnings into the owner’scapital account is made prior to the end of the year, the Balance Sheet shows. A. Retained Earnings B. Net Income C. both Net Income and Retained Earnings D. none of the above because the income/earnings has been transferred intocapital |
C |
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The type of Profit and Loss Report showing year-to-date transactions instead oftotals for each income and expense account is a(n) Profit and Loss Report. A. Standardized B. YTD Comparison C. Prev Year Comparison D. Detailed |
D |
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A bank statement may . A. show service charges or interest not yet recorded B. be missing deposits in transit or outstanding checks C. both of the above D. none of the above |
C |
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The Journal shows . A. all transactions no matter where they were recorded B. only those transactions recorded in the General Journal C. only transactions recorded in account registers D. only those transactions that have been edited |
A |
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A QuickBooks backup file. A. is a condensed file containing company dataB. is prepared in case of emergencies or errors on current disks C. must be restored before information can be used D. all of the above |
D |
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An error known as a transposition can be found by . A. dividing the amount out of balance by 9 B. dividing the amount out of balance by 2 C. multiplying the difference by 9, then dividing by 2 D. dividing the amount out of balance by 5 |
A |
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The type of Balance Sheet Report showing information for today and a year agois a(n) __ Balance Sheet. A. Standard B. Summary C. Comparison D. Detailed |
C |
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Bank reconciliations should be performed on a(n) __________ basis. |
monthly |
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Exporting report data from QuickBooks Pro to _________ can be made in order to perform“what if” scenarios. |
Excel |
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An owner’s paycheck is considered a(n) _______. |
withdrawal |
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The two types of reporting are ______ basis and _______ basis |
accrual cash |
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The Cash Flow Forecast __________ column shows the total in all bank accountsif all customer and bill payments are made on time. |
Projected Balance |
