QUICKBOOKS FINAL EXAM QUESTIONS
AND ANSWERS
The accounts that may be reconciled are? - Answer-all balance sheet accounts
To print a reconciliation report that lists only totals, select_____? - Answer-Summary
The Fixed Asset Item list includes the name of the asset, the date of purchase, and
the______? - Answer-cost of the asset
asset account to use
description of the asset
All of the Above
When using Quickbooks to pay bills that have been recorded in the Enter Bills window,
you may _____ and the bills will be marked "Paid"? - Answer-use the pay bills feature
so Quickbooks will write the checks or prepare the credit card charges
If an order for an inventory item is received with a bill but is incomplete, Quickbooks
will___? - Answer-record the bill only for the amount received
If a customer makes a payment on account and a return has been made, the correct
amount of the sales discount is calculated_____? - Answer-manually by using
QuickMath
For owner withdrawals in a partnership, Quickbooks____? - Answer-allows you to
establish a separate account for each owners withdrawals
Quickbooks uses the _____ method of inventory valuation? - Answer-average cost
When recording a bill, you can memorize ____ so the same transaction is entered when
recording the bill next month? - Answer-Memorize Transaction
Pay stub information may be printed? - Answer-as part of a voucher check
separately
Both A and B
Select to display employee names by last name on the - Answer-Payroll & Employees
Preferences
Employee List
Employee Center
all of the above
A pay check differs from a regular check because_____? - Answer-it provides a Payroll
Summary and an option to view Paycheck Detail
AND ANSWERS
The accounts that may be reconciled are? - Answer-all balance sheet accounts
To print a reconciliation report that lists only totals, select_____? - Answer-Summary
The Fixed Asset Item list includes the name of the asset, the date of purchase, and
the______? - Answer-cost of the asset
asset account to use
description of the asset
All of the Above
When using Quickbooks to pay bills that have been recorded in the Enter Bills window,
you may _____ and the bills will be marked "Paid"? - Answer-use the pay bills feature
so Quickbooks will write the checks or prepare the credit card charges
If an order for an inventory item is received with a bill but is incomplete, Quickbooks
will___? - Answer-record the bill only for the amount received
If a customer makes a payment on account and a return has been made, the correct
amount of the sales discount is calculated_____? - Answer-manually by using
QuickMath
For owner withdrawals in a partnership, Quickbooks____? - Answer-allows you to
establish a separate account for each owners withdrawals
Quickbooks uses the _____ method of inventory valuation? - Answer-average cost
When recording a bill, you can memorize ____ so the same transaction is entered when
recording the bill next month? - Answer-Memorize Transaction
Pay stub information may be printed? - Answer-as part of a voucher check
separately
Both A and B
Select to display employee names by last name on the - Answer-Payroll & Employees
Preferences
Employee List
Employee Center
all of the above
A pay check differs from a regular check because_____? - Answer-it provides a Payroll
Summary and an option to view Paycheck Detail
