QuickBooks Chapter 7 & 8 Test Latest 2023 Already Passed

QuickBooks Chapter 7 & 8 Test Latest
2023 Already Passed
A company's computer is classified as what account type:




a. Expense

b. Owner's Equity

c. Fixed Asset


d. Retained Earnings ✔✔c. Fixed Asset




A corporation uses __________ as its Federal Tax ID number.




a. the owner's social security number

b. an EIN number

c. business operating license number


d. none of these ✔✔b. an EIN number




An account period may be:

,a. One quarter

b. One month

c. One year


d. All of these ✔✔d. All of these




Examples of management reports for internal decision making include all of the following

except:




a. 1120S Report

b. Cash Budget

c. Cash Forecast


d. Accounts Receivable Aging Summary ✔✔a. 1120S Report




In the Easy Step Interview, you must identify:




a. Type of Industry

b. Company name

c. Company address

, d. All of these ✔✔d. All of these




Income tax reports in QuickBooks include all of the following except:




a. Income Tax Preparation

report

b. Income Tax Detail report

c. Income Tax Summary report


d. Income Tax Mapping report ✔✔d. Income Tax Mapping report




Providing information to external users' decision making is the purpose of which of the

following?




a. Management Reports

b. Tax forms

c. Financial statements


d. Inventory reports ✔✔c. Financial statements