COMPUTER ACCOUNTING WITH
QUICKBOOKS ONLINE UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE FULL SOLUTION
●● Which of the following tasks is completed from the Banking section
of the Home page?
Answer: Enter Credit Card Charges
●● The Chart of Accounts can be accessed from which section of the
home page?
Answer: Company
●● Which of the following file types identifies a QuickBooks Portable
File?
Answer: QBM
●● The Home page in Quickbooks consists of all the following sections
except
Answer: Lists
●● Accounting information is used to do all of the following except
page 1.4
,Answer: Prepare meeting minutes for the board of directors.
●● A business transaction is an exchange between
Answer: All of the above Vender, Employee & Customer
●● The QuickBooks file extension QBM indicates the file is a
Answer: QuickBooks movable file.
●● Which Quickbooks window allows you to add your name to the
checking account>
Answer: Chart of Accounts
●● Which financial statement below summarizes the financial position
of a company?
Answer: Profit and Loss Statement
●● Which financial statement below summarizes a company's cash
inflow and outflow?
Answer: Statement of Cash Flows
●● What does the chart of Accounts List
Answer: All of the above.
,●● What are assets?
Answer: Resources that a company owns with future benefit.
●● Which out of the following is a temporary account?
Answer: Sales
●● To add a new account to the Chart of Accounts From the chart of
Accounts window select
Answer: Account, New
●● Which of the following is considered a permanent account?
Answer: Balance Sheet accounts
●● Which of the following is not an income account?
Answer: Rent Expense
●● Income statement accounts are also called?
Answer: Temporary accounts
●● Which of the following increases owner's equity?
Answer: Business Profits
, ●● All of the following tasks can be completed in the Banking section of
the Home page except
Answer: Pay Employees
●● Examples of undeposited funds are
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 ?
Answer: None of the above.
●● When deleting a check all of the following is true except
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.
Answer: All of the above
●● When the balance of an equity account like Capital Stock, increases,
it means that the account has been
Answer: Credited
QUICKBOOKS ONLINE UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE FULL SOLUTION
●● Which of the following tasks is completed from the Banking section
of the Home page?
Answer: Enter Credit Card Charges
●● The Chart of Accounts can be accessed from which section of the
home page?
Answer: Company
●● Which of the following file types identifies a QuickBooks Portable
File?
Answer: QBM
●● The Home page in Quickbooks consists of all the following sections
except
Answer: Lists
●● Accounting information is used to do all of the following except
page 1.4
,Answer: Prepare meeting minutes for the board of directors.
●● A business transaction is an exchange between
Answer: All of the above Vender, Employee & Customer
●● The QuickBooks file extension QBM indicates the file is a
Answer: QuickBooks movable file.
●● Which Quickbooks window allows you to add your name to the
checking account>
Answer: Chart of Accounts
●● Which financial statement below summarizes the financial position
of a company?
Answer: Profit and Loss Statement
●● Which financial statement below summarizes a company's cash
inflow and outflow?
Answer: Statement of Cash Flows
●● What does the chart of Accounts List
Answer: All of the above.
,●● What are assets?
Answer: Resources that a company owns with future benefit.
●● Which out of the following is a temporary account?
Answer: Sales
●● To add a new account to the Chart of Accounts From the chart of
Accounts window select
Answer: Account, New
●● Which of the following is considered a permanent account?
Answer: Balance Sheet accounts
●● Which of the following is not an income account?
Answer: Rent Expense
●● Income statement accounts are also called?
Answer: Temporary accounts
●● Which of the following increases owner's equity?
Answer: Business Profits
, ●● All of the following tasks can be completed in the Banking section of
the Home page except
Answer: Pay Employees
●● Examples of undeposited funds are
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 ?
Answer: None of the above.
●● When deleting a check all of the following is true except
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.
Answer: All of the above
●● When the balance of an equity account like Capital Stock, increases,
it means that the account has been
Answer: Credited
