Computerized Accounting
Quickbooks Questions with 100%
Correct Answers
In quickBooks, how can you enter transaction information? Correct Answer:
Onscreen Journal and onscreen forms
Which of the following tasks is completed from the Banking section of the Home
page? Correct Answer: Enter Credit Card Charges
The Chart of Accounts can be accessed from which section of the home
page? Correct Answer: Company
Which of the following file types identifies a QuickBooks Portable File? Correct
Answer: QBM
The Home page in Quickbooks consists of all the following sections except
Correct Answer: Lists
Accounting information is used to do all of the following except page 1.4
Correct Answer: Prepare meeting minutes for the board of directors.
A business transaction is an exchange between Correct Answer: All of the
above Vender, Employee & Customer
The QuickBooks file extension QBM indicates the file is a Correct Answer:
QuickBooks movable file.
Which Quickbooks window allows you to add your name to the checking
account> Correct Answer: Chart of Accounts
,Which financial statement below summarizes the financial position of a
company? Correct Answer: Profit and Loss Statement
Which financial statement below summarizes a company's cash inflow and
outflow? Correct Answer: Statement of Cash Flows
What does the chart of Accounts List Correct Answer: All of the above.
What are assets? Correct Answer: Resources that a company owns with future
benefit.
Which out of the following is a temporary account? Correct Answer: Sales
To add a new account to the Chart of Accounts From the chart of Accounts
window select Correct Answer: Account, New
Which of the following is considered a permanent account? Correct Answer:
Balance Sheet accounts
Which of the following is not an income account? Correct Answer: Rent Expense
Income statement accounts are also called? Correct Answer: Temporary
accounts
Which of the following increases owner's equity? Correct Answer: Business Profits
All of the following tasks can be completed in the Banking section of the Home
page except Correct Answer: Pay Employees
Examples of undeposited funds are Correct Answer: Customer payments
recorded as received but not yet deposited
The one step approach (write checks window) can be used to pay which of the
following ? Correct Answer: None of the above.
,When deleting a check all of the following is true except Correct Answer: It is
better to delete the check than void the check in order to erase all records of
the transaction
When reconciling the bank statement using Quickbooks. Correct Answer: All of
the above
When the balance of an equity account like Capital Stock, increases, it means
that the account has been Correct Answer: Credited
A business checking account may be used for which of the following
purchases? Correct Answer: Furniture for the office
Which one of the following activities is associated with the Banking section of
the Home Page? Correct Answer: Enter Credit card charges
The customer section of the Home page is used to record which of the following
transaction? Correct Answer: Customer payment
The one step approach to bill paying Correct Answer: records and pays a bill at
the same time
When paying a bill, Quickbooks automatically Correct Answer: Reduces the
liability (debit) and the checking account (credit)
Check Register is a record of all transactions affecting the Correct Answer:
Checking account
When recordig a customer payment from a cash sale , select Correct Answer:
Create Sales Receipt, Record Deposits
To record a credit sale, select Correct Answer: none of the above
Credit card sales are Correct Answer: Recorded using a create invoices window
, When a credit sale sale is recorded on an invoice, QuickBooks records Correct
Answer: An increase to Sales and in increase to Accounts Receivable
Which report provides information to help in tracking accounts receivable
Correct Answer: All of the above
To increase collection of payments, you can use all the following QuickBooks
features, except Correct Answer: Customers with New Invoices Report
Which one of the following activities is not shown in the Customer section of the
Home page Correct Answer: Make Deposits
The Job Profitability Summary Report is accessed from the Correct Answer:
Report Center
The Finance Charges icon allows you to Correct Answer: Add finance charges
to customer bills when bills are not paid by the due date
The Customer List stores all of the information listed below except Correct
Answer: Sales tax rates
The undeposited Funds account Correct Answer: Holds funds received but not
deposited in the bank
Which one of the following is a vendor transaction? Correct Answer: Enter Bills
Which of the following activities and QuickBooks window used to record it is
Incorrect Correct Answer: Record Inventory information. Inventory List
Which of the following is usually classified as an inventory item? Correct Answer:
Goods purchased for resale to customers
Which Quickbooks window is used to record services received Correct Answer:
Enter Bills
Quickbooks Questions with 100%
Correct Answers
In quickBooks, how can you enter transaction information? Correct Answer:
Onscreen Journal and onscreen forms
Which of the following tasks is completed from the Banking section of the Home
page? Correct Answer: Enter Credit Card Charges
The Chart of Accounts can be accessed from which section of the home
page? Correct Answer: Company
Which of the following file types identifies a QuickBooks Portable File? Correct
Answer: QBM
The Home page in Quickbooks consists of all the following sections except
Correct Answer: Lists
Accounting information is used to do all of the following except page 1.4
Correct Answer: Prepare meeting minutes for the board of directors.
A business transaction is an exchange between Correct Answer: All of the
above Vender, Employee & Customer
The QuickBooks file extension QBM indicates the file is a Correct Answer:
QuickBooks movable file.
Which Quickbooks window allows you to add your name to the checking
account> Correct Answer: Chart of Accounts
,Which financial statement below summarizes the financial position of a
company? Correct Answer: Profit and Loss Statement
Which financial statement below summarizes a company's cash inflow and
outflow? Correct Answer: Statement of Cash Flows
What does the chart of Accounts List Correct Answer: All of the above.
What are assets? Correct Answer: Resources that a company owns with future
benefit.
Which out of the following is a temporary account? Correct Answer: Sales
To add a new account to the Chart of Accounts From the chart of Accounts
window select Correct Answer: Account, New
Which of the following is considered a permanent account? Correct Answer:
Balance Sheet accounts
Which of the following is not an income account? Correct Answer: Rent Expense
Income statement accounts are also called? Correct Answer: Temporary
accounts
Which of the following increases owner's equity? Correct Answer: Business Profits
All of the following tasks can be completed in the Banking section of the Home
page except Correct Answer: Pay Employees
Examples of undeposited funds are Correct Answer: Customer payments
recorded as received but not yet deposited
The one step approach (write checks window) can be used to pay which of the
following ? Correct Answer: None of the above.
,When deleting a check all of the following is true except Correct Answer: It is
better to delete the check than void the check in order to erase all records of
the transaction
When reconciling the bank statement using Quickbooks. Correct Answer: All of
the above
When the balance of an equity account like Capital Stock, increases, it means
that the account has been Correct Answer: Credited
A business checking account may be used for which of the following
purchases? Correct Answer: Furniture for the office
Which one of the following activities is associated with the Banking section of
the Home Page? Correct Answer: Enter Credit card charges
The customer section of the Home page is used to record which of the following
transaction? Correct Answer: Customer payment
The one step approach to bill paying Correct Answer: records and pays a bill at
the same time
When paying a bill, Quickbooks automatically Correct Answer: Reduces the
liability (debit) and the checking account (credit)
Check Register is a record of all transactions affecting the Correct Answer:
Checking account
When recordig a customer payment from a cash sale , select Correct Answer:
Create Sales Receipt, Record Deposits
To record a credit sale, select Correct Answer: none of the above
Credit card sales are Correct Answer: Recorded using a create invoices window
, When a credit sale sale is recorded on an invoice, QuickBooks records Correct
Answer: An increase to Sales and in increase to Accounts Receivable
Which report provides information to help in tracking accounts receivable
Correct Answer: All of the above
To increase collection of payments, you can use all the following QuickBooks
features, except Correct Answer: Customers with New Invoices Report
Which one of the following activities is not shown in the Customer section of the
Home page Correct Answer: Make Deposits
The Job Profitability Summary Report is accessed from the Correct Answer:
Report Center
The Finance Charges icon allows you to Correct Answer: Add finance charges
to customer bills when bills are not paid by the due date
The Customer List stores all of the information listed below except Correct
Answer: Sales tax rates
The undeposited Funds account Correct Answer: Holds funds received but not
deposited in the bank
Which one of the following is a vendor transaction? Correct Answer: Enter Bills
Which of the following activities and QuickBooks window used to record it is
Incorrect Correct Answer: Record Inventory information. Inventory List
Which of the following is usually classified as an inventory item? Correct Answer:
Goods purchased for resale to customers
Which Quickbooks window is used to record services received Correct Answer:
Enter Bills
