QuickBooks Chapter 4 Questions and
Answers Already Passed
Which of the following reports is not part of the period-end accounting reports? ✔✔Pending
Sales
The Cost of Goods Sold account would fall into which of the following account types?
✔✔Income and Expenses
Which of the following is one of the financial reports that companies prepare at least once a
year? ✔✔Balance Sheet
By what name is the income statement known in QuickBooks? ✔✔Profit & Loss report
In customizing the Journal report to show only the adjusting journal entries, you would be using
the __________ feature. ✔✔Filter
One way to open the Make General Journal Entries window is to begin by clicking __________
on the main menu bar. ✔✔Company
, In a manual accounting system, transactions are initially recorded chronologically in the
✔✔General Journal
Adjustments made to accounts at certain periods of time (for example, at the end of the month)
are referred to as ✔✔Adjusting Journal Entries
Which of the following statements regarding credit amounts in a manual accounting system is
not true? ✔✔They are always recorded as negative numbers
When determining how to identify accounts for purposes of reports and postings, QuickBooks
relies on this piece of account information. ✔✔Account Type
In QuickBooks, registers are not available for __________ accounts ✔✔Income and Expense
This report is used to verify that the total debits equal the total credits in the general ledger.
✔✔Trial Balance
Adjusting journal entries are usually dated the ✔✔last day of the month
Answers Already Passed
Which of the following reports is not part of the period-end accounting reports? ✔✔Pending
Sales
The Cost of Goods Sold account would fall into which of the following account types?
✔✔Income and Expenses
Which of the following is one of the financial reports that companies prepare at least once a
year? ✔✔Balance Sheet
By what name is the income statement known in QuickBooks? ✔✔Profit & Loss report
In customizing the Journal report to show only the adjusting journal entries, you would be using
the __________ feature. ✔✔Filter
One way to open the Make General Journal Entries window is to begin by clicking __________
on the main menu bar. ✔✔Company
, In a manual accounting system, transactions are initially recorded chronologically in the
✔✔General Journal
Adjustments made to accounts at certain periods of time (for example, at the end of the month)
are referred to as ✔✔Adjusting Journal Entries
Which of the following statements regarding credit amounts in a manual accounting system is
not true? ✔✔They are always recorded as negative numbers
When determining how to identify accounts for purposes of reports and postings, QuickBooks
relies on this piece of account information. ✔✔Account Type
In QuickBooks, registers are not available for __________ accounts ✔✔Income and Expense
This report is used to verify that the total debits equal the total credits in the general ledger.
✔✔Trial Balance
Adjusting journal entries are usually dated the ✔✔last day of the month
