QUICK BOOKCERTIFICATION EXAM PRACTICE
QUESTIONS AND CORRECT ANSWERS ALREADY GRADED
A+ GUARANTEED SUCCESS
when might you need to make an adjusting entry?
all of the above:
- a transaction needs to be changed from one class to another class
- you need to record depreciation on a fixed asset
- prepaid expenses need to be reallocated to the time period when the expenses are used
to make an adjustment to items and their associated accounts, you should use
a zero-dollar check
what is the first step when you are ready to pay a bill?
select pay bills from the vendors menu
QB forms always
automatically record the debits and credits behind the scenes
what is the file extension of a QB data file?
.QBW
which of the following should you not do when recording a bounced check?
delete the original check and deposit
the beginning balance field in the begin reconciliation window
is calculated by adding and subtracting all previously reconciled transactions
your beginning balance on your bank statement doesn't match the beginning balance field in the
begin reconciliation window. what should you do first?
generate a reconciliation discrepancy report to look for changes
what happens when you reconcile an account where the difference is not zero?
QB balances the account with a new transaction coded to the reconciliation discrepancies
account
after reconciling a credit card account, you are prompted to
, either a or b:
- immediately write a check for the full payment
- enter a single bill to make a payment later
what might cause a problem with the beginning balance field in the begin reconciliation
window?
a previously reconciled transaction was changed
when finished reconciling a bank account, what should you generate?
reconciliation summary and reconciliation detail reports
the ending balance field in the begin reconciliation window is
entered manually from the ending balance on the statement from the bank
to make a partial payment on a reconciled credit card
enter the amount you will pay in the enter bills window
you can create a new sales tax item
creating a new sales tax item to the item list
to write off bad debt
create a credit memo and apply the credit to the open invoice
when would you give a refund after creating a credit memo?
when the customer has paid in full
a customer requests a refund for returned merchandise that was purchased with an American
Express card. what is the best way to issue a refund?
credit the customer's american express card
customer statements can be created for
all of the above:
- a single customer
- customers who have a balance
- all customers
you can apply the credit from a credit memo to an invoice by using
all of the above:
QUESTIONS AND CORRECT ANSWERS ALREADY GRADED
A+ GUARANTEED SUCCESS
when might you need to make an adjusting entry?
all of the above:
- a transaction needs to be changed from one class to another class
- you need to record depreciation on a fixed asset
- prepaid expenses need to be reallocated to the time period when the expenses are used
to make an adjustment to items and their associated accounts, you should use
a zero-dollar check
what is the first step when you are ready to pay a bill?
select pay bills from the vendors menu
QB forms always
automatically record the debits and credits behind the scenes
what is the file extension of a QB data file?
.QBW
which of the following should you not do when recording a bounced check?
delete the original check and deposit
the beginning balance field in the begin reconciliation window
is calculated by adding and subtracting all previously reconciled transactions
your beginning balance on your bank statement doesn't match the beginning balance field in the
begin reconciliation window. what should you do first?
generate a reconciliation discrepancy report to look for changes
what happens when you reconcile an account where the difference is not zero?
QB balances the account with a new transaction coded to the reconciliation discrepancies
account
after reconciling a credit card account, you are prompted to
, either a or b:
- immediately write a check for the full payment
- enter a single bill to make a payment later
what might cause a problem with the beginning balance field in the begin reconciliation
window?
a previously reconciled transaction was changed
when finished reconciling a bank account, what should you generate?
reconciliation summary and reconciliation detail reports
the ending balance field in the begin reconciliation window is
entered manually from the ending balance on the statement from the bank
to make a partial payment on a reconciled credit card
enter the amount you will pay in the enter bills window
you can create a new sales tax item
creating a new sales tax item to the item list
to write off bad debt
create a credit memo and apply the credit to the open invoice
when would you give a refund after creating a credit memo?
when the customer has paid in full
a customer requests a refund for returned merchandise that was purchased with an American
Express card. what is the best way to issue a refund?
credit the customer's american express card
customer statements can be created for
all of the above:
- a single customer
- customers who have a balance
- all customers
you can apply the credit from a credit memo to an invoice by using
all of the above:
