QuickBooks Practice Test 100 Questions with 100% Correct Answers

QuickBooks Practice Test 100 Questions with 100% Correct Answers During the Advanced Setup, you can turn on and off which features in the EasyStep Interview? a. Sales taxes b. Inventory c. Progress Invoicing d. All of the above - Answer- ALL of the above During the Advanced Setup, you can set up a password for which of the following users during the EasyStep Interview? a. Administrator b. External Accountant c. You cannot setup passwords during the EasyStep interview d. All users - Answer- administrator When setting up a new company through the Advanced Setup, some company information is optional and some is absolutely required. Which of the following pieces of information does QuickBooks require you to enter during the EasyStep Interview? a. Company name b. Company password c. Tax ID d. All of the above - Answer- company name How do you set up multiple businesses in QuickBooks (assuming each business files a separate tax return)? a. Purchase a separate QuickBooks license for each company you need to set up. b. Use the Advanced Setup to go through the EasyStep interview for the oldest c. Use the Advanced Setup to go through the EasyStep interview for each company d. Use the Advanced Setup to go through the EasyStep Interview for the largest company first, and then choose File Add a separate business at the end of the interview. to create a separate company file. - Answer- Use the Advanced Setup to go through the EasyStep interview for each company During the Advanced Setup, how do you setup a new account that is not on the default list of accounts during the EasyStep Interview? a. You can't add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts. b. Click Add new account in the EasyStep Interview. c. Click Edit Account during the EasyStep Interview. d. Select Import My Chart of Accounts during the EasyStep Interview. - Answer- You can't add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts. You've been hired by a company that started in 1911. They've never used QuickBooks. During the Advanced Setup, what "Start Date" should you use in the EasyStep Interview? a. There is no Start Date in the EasyStep Interview. b. The date the company bought QuickBooks. c. 1911 d. The date you want to begin tracking the company's finances in QuickBooks. - Answer- The date you want to begin tracking the company's finances in QuickBooks. How do you restore a company file from a backup copy? a. Choose File Back Up. Then click the Restore from Backup button. b. Choose File Utilities File Operations Restore. c. Choose File Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Choose where to restore the file to and click Save. d. Click the Restore icon on the Home page. click Next. - Answer- Choose File Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Choose where to restore the file to and click Save. Which of the following is NOT a backup option in QuickBooks? a. Manually back up the file. b. Automatically back up the data file when closing QuickBooks. c. Schedule an unattended backup d. All of the above are QuickBooks backup options. - Answer- All of the above are QuickBooks backup options. Why would you restore a data file from the backup file? a. You wish to review the company data as it stood at an earlier date. b. The company data file on your hard drive is damaged and cannot be used. c. Your computer crashed. You reloaded QuickBooks, and now you are ready to open the company file. d. All of the above. - Answer- All of the above How do you switch to Multi-User Mode? a. Choose Company Set Up Users and Passwords Set Up Users from the b. Open the data file from a remote location. c. Choose Edit Preferences Multi-User from the menu. d. Choose File Switch to Multi-user Mode from the menu. - Answer- Choose File Switch to Multi-user Mode from the menu. If you choose to remove transactions as of a specific date from the "Condense Data" window, what does QuickBooks do? a. Removes all payroll transactions that occurred on that date. This is a great way to fix the mistakes a new person made on a particular day