TEST BANK FOR COMPUTER
#kj #kj #kj
ACCOUNTING WITH
#kj #kj
QUICKBOOKS ONLINE 1ST
#kj #kj #kj
EDITION DONNA KAY
#kj #kj #kj
David
MICROSOFT # k j [Company #kjaddress]
SCHOLARVAULT
,Computer Accounting with QuickBooks Online, 1e (Kay)
Chapter 2 QBO Chart of Accounts
1) Which of the following statements is not true regarding QBO subaccounts?
A) QBO automatically sets up Subaccounts commonly used by companies.
B) QBO permits the use of Subaccounts which are useful in tracking additional detail.
C) Subaccounts are essentially subcategories of an account.
D) Subaccounts are added by selecting New from the Chart of Accounts window and selecting
the Category Type, i.e. Expenses, then selecting Detail Type and entering in the Name.
2) In QBO, account numbers are:
A) used to uniquely identify specific accounts but do not assist in identifying an account type i.e.
asset, liability, revenue, expense, and equity.
B) used to only identify an account type and the account name identifies the specific account.
C) used to uniquely identify accounts and help identify an account type.
D) a combination of being randomly assigned and assigned alphabetically buy the user of QBO.
3) QBO is able to display account numbers in the Chart of Accounts by:
A) Once in the Chart of Accounts use the Edit Pencil in the Chart of Accounts, then select
Enable account numbers, and then Show account numbers.
B) It is not possible to show account numbers in the Chart of Accounts; only account names can
be shown.
C) Select Accounting then Chart of Accounts and all account numbers are shown automatically
once the Chart of Accounts is opened.
D) Account numbers can only be shown once complete set up of the company is finished.
4) To enter account numbers into QBO:
A) Select Accounting in the Navigation Bar and use the Edit Pencil.
B) There is no need to enter account numbers into QBO; QBO assigns account numbers
automatically.
C) Use the Gear icon and select Advanced.
D) Account numbers can only be entered when the register is displayed. Select View register
then the Edit Pencil.
5) All of the following are true regarding QBO except:
A) A company's Chart of Accounts can be customized in QBO to track information needed to
complete the tax return.
B) A QBO goal is to see that the Chart of Accounts feeds into the tax return lines.
C) QBO focuses most on providing detailed reports for its users and is not overly concerned
about tax return preparation.
D) It is important to know which tax form a company uses to best tailor the Chart of Accounts to
feed into the tax return.
1
Copyright #kj2019 #kj© #kjMcGraw-Hill #kjEducation. #kjAll #kjrights #kjreserved. #kjNo #kjreproduction #kjor #kjdistribution
#kjwithout #kjthe #kjprior #kjwritten #kjconsent #kjof #kjMcGraw-Hill #kjEducation.
SCHOLARVAULT
, 6) Which #kjof #kjthe #kjfollowing #kjis #kjincorrect #kjregarding #kjthe #kjtype #kjof #kjtax #kjform #kjrelated #kjto
#kjlegal #kjform #kjof #kjorganization? #kjSelect #kjall #kjthat #kjapply:
A) Sole #kjProprietorship #kj– #kjForm #kj1040 #kjSchedule #kjS
B) C #kjCorporation #kj– #kjForm #kj1120
C) Partnership #kj– #kjForm #kj1065
D) Sole #kjPartnership #kj– #kjForm #kj1140 #kjSchedule #kjC
7) When #kjin #kjthe #kjQBO #kjChart #kjof #kjAccounts #kjwindow, #kjadding #kjnew #kjaccounts #kjis #kjcompleted #kjby:
A) Selecting #kjAccounting, #kjthen #kjNew, #kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail
#kjType. #kjA #kjSub- #kjaccount #kjis #kjneeded #kjfor #kjall #kjnew #kjaccounts, #kjtherefore, #kjCheck #kjthe
#kjSub-account #kjand #kjenter #kjin #kjthe #kjappropriate #kjname.
B) Selecting #kjthe #kjGear #kjicon, #kjthen #kjhit #kjthe #kjplus #kjin #kjthe #kjAccounting #kjwindow, #kjthen #kjNew,
#kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail #kjType. #kjA #kjSub-account #kjis #kjoptional,
#kjtherefore, #kjUncheck #kjsub-account #kjif #kjnot #kjneeded #kjand #kjenter #kjif #kjit #kjis #kjneeded.
C) Selecting #kjAccounting, #kjthen #kjNew, #kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail
#kjType. #kjA #kjSub- #kjaccount #kjis #kjoptional, #kjtherefore, #kjUncheck #kjsub-account #kjif #kjnot #kjneeded.
D) Selecting #kjGear #kjicon, #kjthen #kjhit #kjthe #kjplus #kjin #kjthe #kjAccounting #kjwindow, #kjthen #kjNew,
#kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail #kjType. #kjA #kjSub-account #kjis #kjrequired #kjfor
#kjall #kjnew #kjaccounts, #kjtherefore, #kjenter #kjthe #kjtitle #kjif #kjit #kjis #kjneeded.
8) What #kjare #kjQBO #kjSub-accounts #kjand #kjhow #kjare #kjthese #kjaccounts #kjadded #kjto #kjthe #kjChart
#kjof #kjAccounts #kj(COA)?
A) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby #kjselecting
#kjNew
from #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail #kjType #kjand #kjenter #kja
#kjname.
B) Subcategories #kjof #kjan #kjaccount #kjused #kjto #kjdetermine #kjthe #kjappropriate #kjtax #kjform. #kjAdd #kjSub-
accounts #kjby #kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType,
#kjselect #kjDetail #kjType #kjand #kjenter #kja #kjname.
C) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby
#kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjnext #kjhit #kjthe #kj+ #kjsign #kjin #kjthe #kjupper #kjright
#kjcorner, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail #kjType #kjand #kjenter #kja #kjname.
D) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby
#kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail
#kjType #kjand #kjenter #kja #kjname. #kjCheck #kjSub-account #kjbox #kjto #kjconfirm #kjthe #kjaccount #kjis #kja #kjSub-
account.
9) An #kjaccount #kjname #kjcan #kjbe #kjchanged #kjin #kjQBO #kjby #kjcompleting #kjthe #kjfollowing:
A) Account #kjnames #kjare #kjrather #kjsimple #kjto #kjupdate. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand
#kjclick #kjdirectly #kjon #kjthe #kjname #kjof #kjthe #kjaccount. #kjA #kjwindow #kjwill #kjopen #kjallowing #kj you #kjto
#kjchange #kjthe #kjname.
B) Account #kjnames #kjare #kjrather #kjsimple #kjto #kjupdate. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand
#kjclick #kjon #kjthe #kjdrop #kjdown #kjarrow #kjnext #kjto #kjRun #kjReport. #kjAn #kjEdit #kjselection #kjwill #kjbe
#kjshown; #kjenter #kjin #kjthe #kjnew #kjname #kjand #kjsave.
C) Account #kjnames #kjare #kjnot #kjeasy #kjto #kjupdate #kjsince #kjQBO #kjencourages #kjmaintaining
#kjconsistency #kjin #kjits #kjreporting. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand #kjclick #kjdirectly #kjon
#kjthe #kjname #kjof #kjthe #kjaccount.
2
Copyright #kj2019 #kj© #kjMcGraw-Hill #kjEducation. #kjAll #kjrights #kjreserved. #kjNo #kjreproduction #kjor #kjdistribution
#kjwithout #kjthe #kjprior #kjwritten #kjconsent #kjof #kjMcGraw-Hill #kjEducation.
SCHOLARVAULT
#kj #kj #kj
ACCOUNTING WITH
#kj #kj
QUICKBOOKS ONLINE 1ST
#kj #kj #kj
EDITION DONNA KAY
#kj #kj #kj
David
MICROSOFT # k j [Company #kjaddress]
SCHOLARVAULT
,Computer Accounting with QuickBooks Online, 1e (Kay)
Chapter 2 QBO Chart of Accounts
1) Which of the following statements is not true regarding QBO subaccounts?
A) QBO automatically sets up Subaccounts commonly used by companies.
B) QBO permits the use of Subaccounts which are useful in tracking additional detail.
C) Subaccounts are essentially subcategories of an account.
D) Subaccounts are added by selecting New from the Chart of Accounts window and selecting
the Category Type, i.e. Expenses, then selecting Detail Type and entering in the Name.
2) In QBO, account numbers are:
A) used to uniquely identify specific accounts but do not assist in identifying an account type i.e.
asset, liability, revenue, expense, and equity.
B) used to only identify an account type and the account name identifies the specific account.
C) used to uniquely identify accounts and help identify an account type.
D) a combination of being randomly assigned and assigned alphabetically buy the user of QBO.
3) QBO is able to display account numbers in the Chart of Accounts by:
A) Once in the Chart of Accounts use the Edit Pencil in the Chart of Accounts, then select
Enable account numbers, and then Show account numbers.
B) It is not possible to show account numbers in the Chart of Accounts; only account names can
be shown.
C) Select Accounting then Chart of Accounts and all account numbers are shown automatically
once the Chart of Accounts is opened.
D) Account numbers can only be shown once complete set up of the company is finished.
4) To enter account numbers into QBO:
A) Select Accounting in the Navigation Bar and use the Edit Pencil.
B) There is no need to enter account numbers into QBO; QBO assigns account numbers
automatically.
C) Use the Gear icon and select Advanced.
D) Account numbers can only be entered when the register is displayed. Select View register
then the Edit Pencil.
5) All of the following are true regarding QBO except:
A) A company's Chart of Accounts can be customized in QBO to track information needed to
complete the tax return.
B) A QBO goal is to see that the Chart of Accounts feeds into the tax return lines.
C) QBO focuses most on providing detailed reports for its users and is not overly concerned
about tax return preparation.
D) It is important to know which tax form a company uses to best tailor the Chart of Accounts to
feed into the tax return.
1
Copyright #kj2019 #kj© #kjMcGraw-Hill #kjEducation. #kjAll #kjrights #kjreserved. #kjNo #kjreproduction #kjor #kjdistribution
#kjwithout #kjthe #kjprior #kjwritten #kjconsent #kjof #kjMcGraw-Hill #kjEducation.
SCHOLARVAULT
, 6) Which #kjof #kjthe #kjfollowing #kjis #kjincorrect #kjregarding #kjthe #kjtype #kjof #kjtax #kjform #kjrelated #kjto
#kjlegal #kjform #kjof #kjorganization? #kjSelect #kjall #kjthat #kjapply:
A) Sole #kjProprietorship #kj– #kjForm #kj1040 #kjSchedule #kjS
B) C #kjCorporation #kj– #kjForm #kj1120
C) Partnership #kj– #kjForm #kj1065
D) Sole #kjPartnership #kj– #kjForm #kj1140 #kjSchedule #kjC
7) When #kjin #kjthe #kjQBO #kjChart #kjof #kjAccounts #kjwindow, #kjadding #kjnew #kjaccounts #kjis #kjcompleted #kjby:
A) Selecting #kjAccounting, #kjthen #kjNew, #kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail
#kjType. #kjA #kjSub- #kjaccount #kjis #kjneeded #kjfor #kjall #kjnew #kjaccounts, #kjtherefore, #kjCheck #kjthe
#kjSub-account #kjand #kjenter #kjin #kjthe #kjappropriate #kjname.
B) Selecting #kjthe #kjGear #kjicon, #kjthen #kjhit #kjthe #kjplus #kjin #kjthe #kjAccounting #kjwindow, #kjthen #kjNew,
#kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail #kjType. #kjA #kjSub-account #kjis #kjoptional,
#kjtherefore, #kjUncheck #kjsub-account #kjif #kjnot #kjneeded #kjand #kjenter #kjif #kjit #kjis #kjneeded.
C) Selecting #kjAccounting, #kjthen #kjNew, #kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail
#kjType. #kjA #kjSub- #kjaccount #kjis #kjoptional, #kjtherefore, #kjUncheck #kjsub-account #kjif #kjnot #kjneeded.
D) Selecting #kjGear #kjicon, #kjthen #kjhit #kjthe #kjplus #kjin #kjthe #kjAccounting #kjwindow, #kjthen #kjNew,
#kjthen #kjenter #kja #kjCategory #kjType #kjand #kja #kjDetail #kjType. #kjA #kjSub-account #kjis #kjrequired #kjfor
#kjall #kjnew #kjaccounts, #kjtherefore, #kjenter #kjthe #kjtitle #kjif #kjit #kjis #kjneeded.
8) What #kjare #kjQBO #kjSub-accounts #kjand #kjhow #kjare #kjthese #kjaccounts #kjadded #kjto #kjthe #kjChart
#kjof #kjAccounts #kj(COA)?
A) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby #kjselecting
#kjNew
from #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail #kjType #kjand #kjenter #kja
#kjname.
B) Subcategories #kjof #kjan #kjaccount #kjused #kjto #kjdetermine #kjthe #kjappropriate #kjtax #kjform. #kjAdd #kjSub-
accounts #kjby #kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType,
#kjselect #kjDetail #kjType #kjand #kjenter #kja #kjname.
C) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby
#kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjnext #kjhit #kjthe #kj+ #kjsign #kjin #kjthe #kjupper #kjright
#kjcorner, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail #kjType #kjand #kjenter #kja #kjname.
D) Subcategories #kjof #kjan #kjaccount #kjthat #kjaid #kjin #kjdecision #kjmaking. #kjAdd #kjSub-accounts #kjby
#kjselecting #kjNew #kjfrom #kjthe #kjCOA #kjwindow, #kjthen #kjenter #kjthe #kjCategory #kjType, #kjselect #kjDetail
#kjType #kjand #kjenter #kja #kjname. #kjCheck #kjSub-account #kjbox #kjto #kjconfirm #kjthe #kjaccount #kjis #kja #kjSub-
account.
9) An #kjaccount #kjname #kjcan #kjbe #kjchanged #kjin #kjQBO #kjby #kjcompleting #kjthe #kjfollowing:
A) Account #kjnames #kjare #kjrather #kjsimple #kjto #kjupdate. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand
#kjclick #kjdirectly #kjon #kjthe #kjname #kjof #kjthe #kjaccount. #kjA #kjwindow #kjwill #kjopen #kjallowing #kj you #kjto
#kjchange #kjthe #kjname.
B) Account #kjnames #kjare #kjrather #kjsimple #kjto #kjupdate. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand
#kjclick #kjon #kjthe #kjdrop #kjdown #kjarrow #kjnext #kjto #kjRun #kjReport. #kjAn #kjEdit #kjselection #kjwill #kjbe
#kjshown; #kjenter #kjin #kjthe #kjnew #kjname #kjand #kjsave.
C) Account #kjnames #kjare #kjnot #kjeasy #kjto #kjupdate #kjsince #kjQBO #kjencourages #kjmaintaining
#kjconsistency #kjin #kjits #kjreporting. #kjFind #kjthe #kjaccount #kjin #kjthe #kjCOA #kjand #kjclick #kjdirectly #kjon
#kjthe #kjname #kjof #kjthe #kjaccount.
2
Copyright #kj2019 #kj© #kjMcGraw-Hill #kjEducation. #kjAll #kjrights #kjreserved. #kjNo #kjreproduction #kjor #kjdistribution
#kjwithout #kjthe #kjprior #kjwritten #kjconsent #kjof #kjMcGraw-Hill #kjEducation.
SCHOLARVAULT
