COMPUTERIZED ACCOUNTING, CH 5 EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE
2026
The Expense Transactions report displays: - Answers Checks and bills recorded in QuickBooks Online.
How do you navigate to the Sales Transactions report? - Answers From the Navigation Bar, select
Sales > All Sales > Date field, select Custom dates > Type appropriate dates.
If the totals on the Trial Balance do not agree, ___. _____ to the original transaction to make the
required changes. - Answers drill down
To add a customer, information is entered in the ___ ____ screen - Answers customer form
To check your data at the beginning of Chapter 5, display the following: - Answers Profit and Loss and
Expenses
Sales and Expense Transactions
101 Checking account balance
October 1 to November 12 Trial Balance
Invoices and Sale
How do you navigate to the Expense Transactions report? - Answers From the Navigation Bar, go to
Expenses > Expenses tab > click on the Filter icon > in the Date field, select Custom.
How do you navigate to the Customer Contact List? - Answers From the Navigation Menu, select
Reports > in the Search field, type and select Customer Contact List.
The 11/1/20XX to 11/12/20XX Sales Transactions report displays: - Answers Sales receipts.
On the November 12, 20XX Trial Balance, which accounts are classified as assets? - Answers Checking.
Merchandise inventory.
Prepaid insurance.
Customer activity may be recorded on: - Answers A sales receipt
An estimate
An invoice
To view a list of all the invoices and their corresponding due dates, display the: - Answers A/R Aging
Summary.
To view the customer information that has been added, display the - Answers customer contact list
When merchandise is returned, a _______ is given in the form of a cash payout. - Answers refund
A properly prepared bank reconciliation compares the checking account balance with the
corresponding information on: - Answers a bank statement.
A payment from a customer for a sale on account may be recorded in the: - Answers either the
Customers or Receive Payment window.
The Gear icon includes Products and Services on its _____ selections. - Answers Lists
A journal entry is recorded: - Answers To transfer money between income and expense accounts.
To transfer money from an asset, liability, or equity account to an income or expense account.
In QuickBooks Online, how do you navigate to the A/R Register? - Answers From the Navigation Bar,
select Transactions > on the Chart of Accounts, double-click 105 Accounts Receivable (A/R).
The report that discloses the quantity of inventory on hand and the total (Asset) value of each
inventory item is the - Answers inventory valuation summary
How do you navigate to the Sales Tax Liability Report? - Answers From the Navigation Bar, select
Reports. In the Search field, type and select Sales Tax Liability Report.
The accounts recorded in a journal entry may be found in the - Answers chart of accounts
In QuickBooks Online, how do you navigate to the Inventory Valuation Summary report? - Answers
From the Navigation Menu, select Reports. In the Search field, type and select Inventory Valuation
Summary.
Why may a business owner display a Sales Tax Liability Report to cover different dates? - Answers To
adhere to differing state tax remittance schedules.
2026
The Expense Transactions report displays: - Answers Checks and bills recorded in QuickBooks Online.
How do you navigate to the Sales Transactions report? - Answers From the Navigation Bar, select
Sales > All Sales > Date field, select Custom dates > Type appropriate dates.
If the totals on the Trial Balance do not agree, ___. _____ to the original transaction to make the
required changes. - Answers drill down
To add a customer, information is entered in the ___ ____ screen - Answers customer form
To check your data at the beginning of Chapter 5, display the following: - Answers Profit and Loss and
Expenses
Sales and Expense Transactions
101 Checking account balance
October 1 to November 12 Trial Balance
Invoices and Sale
How do you navigate to the Expense Transactions report? - Answers From the Navigation Bar, go to
Expenses > Expenses tab > click on the Filter icon > in the Date field, select Custom.
How do you navigate to the Customer Contact List? - Answers From the Navigation Menu, select
Reports > in the Search field, type and select Customer Contact List.
The 11/1/20XX to 11/12/20XX Sales Transactions report displays: - Answers Sales receipts.
On the November 12, 20XX Trial Balance, which accounts are classified as assets? - Answers Checking.
Merchandise inventory.
Prepaid insurance.
Customer activity may be recorded on: - Answers A sales receipt
An estimate
An invoice
To view a list of all the invoices and their corresponding due dates, display the: - Answers A/R Aging
Summary.
To view the customer information that has been added, display the - Answers customer contact list
When merchandise is returned, a _______ is given in the form of a cash payout. - Answers refund
A properly prepared bank reconciliation compares the checking account balance with the
corresponding information on: - Answers a bank statement.
A payment from a customer for a sale on account may be recorded in the: - Answers either the
Customers or Receive Payment window.
The Gear icon includes Products and Services on its _____ selections. - Answers Lists
A journal entry is recorded: - Answers To transfer money between income and expense accounts.
To transfer money from an asset, liability, or equity account to an income or expense account.
In QuickBooks Online, how do you navigate to the A/R Register? - Answers From the Navigation Bar,
select Transactions > on the Chart of Accounts, double-click 105 Accounts Receivable (A/R).
The report that discloses the quantity of inventory on hand and the total (Asset) value of each
inventory item is the - Answers inventory valuation summary
How do you navigate to the Sales Tax Liability Report? - Answers From the Navigation Bar, select
Reports. In the Search field, type and select Sales Tax Liability Report.
The accounts recorded in a journal entry may be found in the - Answers chart of accounts
In QuickBooks Online, how do you navigate to the Inventory Valuation Summary report? - Answers
From the Navigation Menu, select Reports. In the Search field, type and select Inventory Valuation
Summary.
Why may a business owner display a Sales Tax Liability Report to cover different dates? - Answers To
adhere to differing state tax remittance schedules.
