Quickbooks Final Exam 2023 with complete solution
The _____ basis of accounting matches income for the period against expenses
for the period?
Accrual
To change a column width in a report without changing the size of the print, you
must?
Print the Report in landscape orientation
use Fit Report to one page wide option
change the column width manually
All of the Above
If an invoice is ______, it will not show up in the Customer Balance Detail Report?
Deleted
Adjustments for accrual basis accounting generally include adjustments to
______?
Office Supplies
A discount received for a purchase of an inventory item is recorded in the _____
account?
Cost of Goods Sold account: Merchandise Discounts
If a customer has a balance for an amount owed and a return is made, a credit
memo is prepared and _____?
the amount of the return may be applied to the balance owed for the invoice
The Make Payment dialog box appears on the screen_____?
after the credit card reconciliation is complete
The _____ item must appear before the Nonprofit Discount item on an invoice in
order for Quickbooks to calculate the sales discount on the entire sale?
Subtotal
If reports are prepared as of January 31 of the current year, net income will
appear in the _________?
Profit & Loss Statement
Balance Sheet
Both A and B
If an invoice is entered and causes a customers account to exceed its limit,
Quickbooks____?
provides a dialog box allowing you to approve the transaction
Even though transactions are entered via business documents such as invoices
and sales receipts, Quickbooks keeps track of all transactions____?
In the Journal
The accounts that may be reconciled are?
all balance sheet accounts
To print a reconciliation report that lists only totals, select_____?
Summary
The Fixed Asset Item list includes the name of the asset, the date of purchase,
and the______?
cost of the asset
asset account to use
The _____ basis of accounting matches income for the period against expenses
for the period?
Accrual
To change a column width in a report without changing the size of the print, you
must?
Print the Report in landscape orientation
use Fit Report to one page wide option
change the column width manually
All of the Above
If an invoice is ______, it will not show up in the Customer Balance Detail Report?
Deleted
Adjustments for accrual basis accounting generally include adjustments to
______?
Office Supplies
A discount received for a purchase of an inventory item is recorded in the _____
account?
Cost of Goods Sold account: Merchandise Discounts
If a customer has a balance for an amount owed and a return is made, a credit
memo is prepared and _____?
the amount of the return may be applied to the balance owed for the invoice
The Make Payment dialog box appears on the screen_____?
after the credit card reconciliation is complete
The _____ item must appear before the Nonprofit Discount item on an invoice in
order for Quickbooks to calculate the sales discount on the entire sale?
Subtotal
If reports are prepared as of January 31 of the current year, net income will
appear in the _________?
Profit & Loss Statement
Balance Sheet
Both A and B
If an invoice is entered and causes a customers account to exceed its limit,
Quickbooks____?
provides a dialog box allowing you to approve the transaction
Even though transactions are entered via business documents such as invoices
and sales receipts, Quickbooks keeps track of all transactions____?
In the Journal
The accounts that may be reconciled are?
all balance sheet accounts
To print a reconciliation report that lists only totals, select_____?
Summary
The Fixed Asset Item list includes the name of the asset, the date of purchase,
and the______?
cost of the asset
asset account to use
