G-Metrix Accounting 1 Test UPDATED
ACTUAL Exam Questions and CORRECT
Answers
When setting up a new Quickbooks account, which is true about setting chart accounts? -
CORRECT ANSWER - It is possible to add more accounts ,after starting a new company
You can enter opening balances using a journal entry or directly into account registers(long
answer). - CORRECT ANSWER - Where do you enter opening balances when setting up
the Quick books account?
What's the first step to open the account and settings? - CORRECT ANSWER - Click the
black tool box icon on the home page
What does privacy on the home page do? - CORRECT ANSWER - Hides the values
displayed in the profit and loss,bank accounts, and other financial documents.
Put the steps for setting up a new user? - CORRECT ANSWER - Click company menu
and choose manage users
Manage users ,click "new"
Choose user type "reports only" and click next
Click the reports tab enter the user's email address and click next
False statement about the top of the screen? - CORRECT ANSWER - You can create your
own menu in the advanced tab of account and settings
Which lists can you import from excel into quickbooks online? - CORRECT ANSWER -
Charts of accounts,customers,products and services,and vendors/suppliers
, Which is NOT true about merging entries in lists? - CORRECT ANSWER - Quickbooks
allows you to merge an expense account with an income account
There are many lists that are duplicate.you decide to merge list entries to clean up the lists.Which
of the following is TRUE? - CORRECT ANSWER - You can only merge names from the
same type.
Steps for removing a customer from customer lists? - CORRECT ANSWER - Click the
customers tab
Edit the customer
Click make inactive
Why would Quickbooks create a transaction for you? - CORRECT ANSWER - You
deleted a customer,vendor/supplier,or account that had an open balance
Which of the following is not a list? - CORRECT ANSWER - Other names
Which statement is true? - CORRECT ANSWER - You CAN enter a sales receipt if the
customer field is empty
What is true concerning on products and services? - CORRECT ANSWER - All answers
are correct
To record the sale you click the green box icon and select? - CORRECT ANSWER - Sales
receipt
How do delayed charges affect a customers balance? - CORRECT ANSWER - Delayed
charges do not have an effect on a customers balance
Which is true regarding on not deposited funds? - CORRECT ANSWER - Account use to
record payments before you make a deposit
ACTUAL Exam Questions and CORRECT
Answers
When setting up a new Quickbooks account, which is true about setting chart accounts? -
CORRECT ANSWER - It is possible to add more accounts ,after starting a new company
You can enter opening balances using a journal entry or directly into account registers(long
answer). - CORRECT ANSWER - Where do you enter opening balances when setting up
the Quick books account?
What's the first step to open the account and settings? - CORRECT ANSWER - Click the
black tool box icon on the home page
What does privacy on the home page do? - CORRECT ANSWER - Hides the values
displayed in the profit and loss,bank accounts, and other financial documents.
Put the steps for setting up a new user? - CORRECT ANSWER - Click company menu
and choose manage users
Manage users ,click "new"
Choose user type "reports only" and click next
Click the reports tab enter the user's email address and click next
False statement about the top of the screen? - CORRECT ANSWER - You can create your
own menu in the advanced tab of account and settings
Which lists can you import from excel into quickbooks online? - CORRECT ANSWER -
Charts of accounts,customers,products and services,and vendors/suppliers
, Which is NOT true about merging entries in lists? - CORRECT ANSWER - Quickbooks
allows you to merge an expense account with an income account
There are many lists that are duplicate.you decide to merge list entries to clean up the lists.Which
of the following is TRUE? - CORRECT ANSWER - You can only merge names from the
same type.
Steps for removing a customer from customer lists? - CORRECT ANSWER - Click the
customers tab
Edit the customer
Click make inactive
Why would Quickbooks create a transaction for you? - CORRECT ANSWER - You
deleted a customer,vendor/supplier,or account that had an open balance
Which of the following is not a list? - CORRECT ANSWER - Other names
Which statement is true? - CORRECT ANSWER - You CAN enter a sales receipt if the
customer field is empty
What is true concerning on products and services? - CORRECT ANSWER - All answers
are correct
To record the sale you click the green box icon and select? - CORRECT ANSWER - Sales
receipt
How do delayed charges affect a customers balance? - CORRECT ANSWER - Delayed
charges do not have an effect on a customers balance
Which is true regarding on not deposited funds? - CORRECT ANSWER - Account use to
record payments before you make a deposit
