QuickBooks Chapter 7 - Reports &
Graphs Already Passed
The order of the steps in the accounting cycle includes: ✔✔Trial balance, adjusting entries,
adjusted trial balance, financial reports
What is an asset? ✔✔What a company owns
To record adjusting journal entries in QuickBooks, select: ✔✔Accountant menu, Make General
Journal Entries
Examples of management reports for internal decision making include all of the following except
✔✔1120S Report
Examples of management reports for internal decision making includes ✔✔Cash budget, cash
forecast, and A/R Aging summary
Income tax reports in QuickBooks include all of the following except: ✔✔Income Tax mapping
report
, Income tax reports includes ✔✔Income tax preparation, detail, and summary reports
Sales are recorded under cash basic accounting when: ✔✔Cash is collected from customers
Income statement lists ✔✔Income and Expenses
Which one of the following classifications is found on Statement of Cash Flows? ✔✔Cash flows
from financing activities
What is Owner's equity? ✔✔What remains after liabilities are satisfied
To print General Ledger: ✔✔Select Report Center > Accountant & Taxes, General Ledger
The Profit & Loss Statement lists ✔✔Income and Expenses
What info does a Balance sheet provide? ✔✔A company's financial position on a specific date
Graphs Already Passed
The order of the steps in the accounting cycle includes: ✔✔Trial balance, adjusting entries,
adjusted trial balance, financial reports
What is an asset? ✔✔What a company owns
To record adjusting journal entries in QuickBooks, select: ✔✔Accountant menu, Make General
Journal Entries
Examples of management reports for internal decision making include all of the following except
✔✔1120S Report
Examples of management reports for internal decision making includes ✔✔Cash budget, cash
forecast, and A/R Aging summary
Income tax reports in QuickBooks include all of the following except: ✔✔Income Tax mapping
report
, Income tax reports includes ✔✔Income tax preparation, detail, and summary reports
Sales are recorded under cash basic accounting when: ✔✔Cash is collected from customers
Income statement lists ✔✔Income and Expenses
Which one of the following classifications is found on Statement of Cash Flows? ✔✔Cash flows
from financing activities
What is Owner's equity? ✔✔What remains after liabilities are satisfied
To print General Ledger: ✔✔Select Report Center > Accountant & Taxes, General Ledger
The Profit & Loss Statement lists ✔✔Income and Expenses
What info does a Balance sheet provide? ✔✔A company's financial position on a specific date
