QuickBooks Final Exam: 100% Verified Questions &
Answers: Latest Updated A+ Score Solution
Why would you hide or collapse sub accounts on a report? - ANSWERTo temporarily
hide unnecessary detail and hide parent accounts
What should you do after you click and Save and Close on a Customer Memo? -
ANSWERChoose between retained as an available credit, give a refund or apply an
invoice
Which of the following CAN be memorized in QuickBooks? - ANSWERChecks
Which is not a Payroll Summary Report in QuickBooks? - ANSWERInformation
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The
customer did not have sufficient funds to cover the check. What should you do? -
ANSWERRecord a transaction to show the customer owes you money and that the
checking balance has decreased by the same amount
Suppose you always want all reports to show a specific size and color, how do you
set the standard or preference in QuickBooks so you don't have customize each
report? - ANSWERClick the reports menu reports and select global report
preferences
Suppose you want to restrict which users can access customer credit card numbers.
How do you do this? - ANSWERGive the user access to sales and accounts receivable
but do not check the complete credit card numbers
Which of the following is the possible reason for a bank reconciliation discrepancy? -
ANSWERThe bank reconciliation is on a cash basis instead of accrual basis.
Which of the following statements is TRUE regarding Undeposited Funds? -
ANSWERIt is account used to record payments before you make a deposit.
Which accounts are affected when you enter QuickBooks? - ANSWERAccounts
Receivable
Workers who require a W2 tax form at the end of the year should be added to which
of the following lists - ANSWEREmployees
If you have customized report that you use each month, which feature lets you run
the report with updated data each month. - ANSWERMemorize Report
What is the primary reason for setting a closing date in QuickBooks? - ANSWERTo
restrict users from deleting, editing or adding transactions to last year
, Your new employee earned an annual salary of $40,000. How do you enter this into
QuickBooks? - ANSWEREnter 40,000 in the payroll info window
What steps must you complete to use the payroll liabilities? - ANSWERSet deposit
frequencies
Name the section in the Balance Sheet - ANSWERAssets, Liabilities & Equity
When you create a new company file, QuickBooks asks for your start date. What is
the best definition to start date in QuickBooks - ANSWERThe day you chose to start
recording the financial records in QuickBooks.
Which of the following statements is NOT true regarding entering and paying bills in
QuickBooks? - ANSWERIf you use the enter bill windows to record a bill, do not use
the write checks window or check register to pay the same bill.
How do you use a different forms template when creating a new transaction? (i.e.
Invoice) - ANSWEROpen the form, click the templates drop down list and select the
appropriate form.
How do you change the report basis, accrual vs. cash for just one report? -
ANSWERClick the modify report button on the report and then choose accrual or
cash on the display pad.
How would you track customer birth dates in QuickBooks? - ANSWERAdd a custom
field to the customer list
How do you change the text in the header/footer of a report? - ANSWERClick the
Modify report button on the report and then change the header footer tab.
Where can you see a thumbnail sample of each report in QuickBooks along with a
description of what the report tells you? - ANSWERReport Center
What transaction in QuickBooks should you use if your customer pays you when you
provide the goods or services? - ANSWERSales Receipt
How can you ensure that invoice detail does not appear on a customer statement? -
ANSWERUncheck the show invoice item detail statement's box in the create
statement window
What is the purpose of backing up in QuickBooks? - ANSWERTo protect against data
loss from file corruption or hard file crash.
Which of the following is NOT true regarding merging entries? - ANSWERQuickBooks
allows you to merge an Expense account with an Income account.
Answers: Latest Updated A+ Score Solution
Why would you hide or collapse sub accounts on a report? - ANSWERTo temporarily
hide unnecessary detail and hide parent accounts
What should you do after you click and Save and Close on a Customer Memo? -
ANSWERChoose between retained as an available credit, give a refund or apply an
invoice
Which of the following CAN be memorized in QuickBooks? - ANSWERChecks
Which is not a Payroll Summary Report in QuickBooks? - ANSWERInformation
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The
customer did not have sufficient funds to cover the check. What should you do? -
ANSWERRecord a transaction to show the customer owes you money and that the
checking balance has decreased by the same amount
Suppose you always want all reports to show a specific size and color, how do you
set the standard or preference in QuickBooks so you don't have customize each
report? - ANSWERClick the reports menu reports and select global report
preferences
Suppose you want to restrict which users can access customer credit card numbers.
How do you do this? - ANSWERGive the user access to sales and accounts receivable
but do not check the complete credit card numbers
Which of the following is the possible reason for a bank reconciliation discrepancy? -
ANSWERThe bank reconciliation is on a cash basis instead of accrual basis.
Which of the following statements is TRUE regarding Undeposited Funds? -
ANSWERIt is account used to record payments before you make a deposit.
Which accounts are affected when you enter QuickBooks? - ANSWERAccounts
Receivable
Workers who require a W2 tax form at the end of the year should be added to which
of the following lists - ANSWEREmployees
If you have customized report that you use each month, which feature lets you run
the report with updated data each month. - ANSWERMemorize Report
What is the primary reason for setting a closing date in QuickBooks? - ANSWERTo
restrict users from deleting, editing or adding transactions to last year
, Your new employee earned an annual salary of $40,000. How do you enter this into
QuickBooks? - ANSWEREnter 40,000 in the payroll info window
What steps must you complete to use the payroll liabilities? - ANSWERSet deposit
frequencies
Name the section in the Balance Sheet - ANSWERAssets, Liabilities & Equity
When you create a new company file, QuickBooks asks for your start date. What is
the best definition to start date in QuickBooks - ANSWERThe day you chose to start
recording the financial records in QuickBooks.
Which of the following statements is NOT true regarding entering and paying bills in
QuickBooks? - ANSWERIf you use the enter bill windows to record a bill, do not use
the write checks window or check register to pay the same bill.
How do you use a different forms template when creating a new transaction? (i.e.
Invoice) - ANSWEROpen the form, click the templates drop down list and select the
appropriate form.
How do you change the report basis, accrual vs. cash for just one report? -
ANSWERClick the modify report button on the report and then choose accrual or
cash on the display pad.
How would you track customer birth dates in QuickBooks? - ANSWERAdd a custom
field to the customer list
How do you change the text in the header/footer of a report? - ANSWERClick the
Modify report button on the report and then change the header footer tab.
Where can you see a thumbnail sample of each report in QuickBooks along with a
description of what the report tells you? - ANSWERReport Center
What transaction in QuickBooks should you use if your customer pays you when you
provide the goods or services? - ANSWERSales Receipt
How can you ensure that invoice detail does not appear on a customer statement? -
ANSWERUncheck the show invoice item detail statement's box in the create
statement window
What is the purpose of backing up in QuickBooks? - ANSWERTo protect against data
loss from file corruption or hard file crash.
Which of the following is NOT true regarding merging entries? - ANSWERQuickBooks
allows you to merge an Expense account with an Income account.
