Quickbooks Certification Exam
Which of the following CANNOT be entered during the setup of a new
company?
a. Company name and address
b. Chart of accounts
c. Trial balance, open balance
d. Checking account statement balance correct answersC
After QuickBooks sets up a chart of accountsduring the Express Start or
Advanced Setup, which of the following is TRUE?
e. Accounts open balances can be changed.
f. It is possible to add more accounts later.
g. New accounts can only be added during the Express Start or
Advanced Setup.
h.Only Income and Expense accounts can be added after completing the
Express Start Setup. correct answersB
Once you have completed the sign up of new company file, how do
you change company information such as business name, address, or
phone number?
i. Select file, open company from the menu.
j. Select file Express Start from the menu.
k. Select company information from the menu.
l. Select edit preferences from the menu. correct answersC
When you create a new company using the detailed setup Easy Step
Interview, QuickBooks asks for your start date. What is the best
definition of start date in QuickBooks?
m.The date the company began operating.
n. The date you sit down to start the new company file.
o. The date you chose to start recording the financial records in
QuickBooks.
p. The date you were hired to do the bookkeeping for the business.
correct answersC
What is the primary reason for setting a closing date in QuickBooks?
q. To transfer current year net income to retained earnings.
r. To restrict users from deleting, editing or adding transactions to
last year.
s. To delete prior year transactions.
t. To reduce company file size. correct answersB
The Product Information windowshows you the version and release of
QuickBooks you have along with other information about the company file.
How do you access the Product Information window?
u. Click the Help menu, About QuickBooks
v. Only technical support can access this window.
, c. File menu, version information.
d. Press the F2 key. correct answersD
Which of the following is a reason to create a new company file?
a.To start recording transactions for a new year because each file tracks
only one fiscal year.
b. QuickBooks cannot create more than one file.
c. To start over when a company file has many errors that are beyond repair.
d. The current company file has reached a limit of 1,000 transactions. correct
answersC
The company file you are working on is a mess. You decided to start a new
file. At the same time you want to keep all the lists and preferences and
just delete the transactions. How do you do this?
e.Create a company and select copy settings from another company in
the Easy Step interview.
f.Clickthe File menu, choose utilities, clean up company data, then
choose default transaction option.
g. You can't do this in QuickBooks
h. Click on the Edit menu and delete all transactions. correct answersB
Why might you need to restore a company file?
i. The company file on your hard drive is damaged or corrupted
j. The computer's hard drive is damaged
k. You want to review your company's data as it stood at an earlier
period
l. All of the above correct answersD
. Which of the following is TRUE regarding General Journal entries?
m.General Journal entries require a good understanding of debits and
credits and should not be used by non-accountants.
n. Enter a General Journal entry when you are not sure which form to
use.
o.General Journal entries should not be used for year-end adjustments.
p. General Journal entries should not be used to enter depreciation.
correct answersA
You finished entering all the transactions for last year, and just sent the file
to the tax preparer. How do you ensure that no one accidently deletes or
edits a transaction last year?
q. In the company information window select the first month in the fiscal
year.
r.Click the close financial year icon on the home page and enter the end
of your fiscal year.
s. Complete the closed the book wizard.
t.Set the closing date and password in the accounting preferences in
the company menu. correct answersD
Which is a reason to NOT enter a general journal entry?
u. To enter transactions in another way instead of using built in forms.
v. For accountants to make entries
Which of the following CANNOT be entered during the setup of a new
company?
a. Company name and address
b. Chart of accounts
c. Trial balance, open balance
d. Checking account statement balance correct answersC
After QuickBooks sets up a chart of accountsduring the Express Start or
Advanced Setup, which of the following is TRUE?
e. Accounts open balances can be changed.
f. It is possible to add more accounts later.
g. New accounts can only be added during the Express Start or
Advanced Setup.
h.Only Income and Expense accounts can be added after completing the
Express Start Setup. correct answersB
Once you have completed the sign up of new company file, how do
you change company information such as business name, address, or
phone number?
i. Select file, open company from the menu.
j. Select file Express Start from the menu.
k. Select company information from the menu.
l. Select edit preferences from the menu. correct answersC
When you create a new company using the detailed setup Easy Step
Interview, QuickBooks asks for your start date. What is the best
definition of start date in QuickBooks?
m.The date the company began operating.
n. The date you sit down to start the new company file.
o. The date you chose to start recording the financial records in
QuickBooks.
p. The date you were hired to do the bookkeeping for the business.
correct answersC
What is the primary reason for setting a closing date in QuickBooks?
q. To transfer current year net income to retained earnings.
r. To restrict users from deleting, editing or adding transactions to
last year.
s. To delete prior year transactions.
t. To reduce company file size. correct answersB
The Product Information windowshows you the version and release of
QuickBooks you have along with other information about the company file.
How do you access the Product Information window?
u. Click the Help menu, About QuickBooks
v. Only technical support can access this window.
, c. File menu, version information.
d. Press the F2 key. correct answersD
Which of the following is a reason to create a new company file?
a.To start recording transactions for a new year because each file tracks
only one fiscal year.
b. QuickBooks cannot create more than one file.
c. To start over when a company file has many errors that are beyond repair.
d. The current company file has reached a limit of 1,000 transactions. correct
answersC
The company file you are working on is a mess. You decided to start a new
file. At the same time you want to keep all the lists and preferences and
just delete the transactions. How do you do this?
e.Create a company and select copy settings from another company in
the Easy Step interview.
f.Clickthe File menu, choose utilities, clean up company data, then
choose default transaction option.
g. You can't do this in QuickBooks
h. Click on the Edit menu and delete all transactions. correct answersB
Why might you need to restore a company file?
i. The company file on your hard drive is damaged or corrupted
j. The computer's hard drive is damaged
k. You want to review your company's data as it stood at an earlier
period
l. All of the above correct answersD
. Which of the following is TRUE regarding General Journal entries?
m.General Journal entries require a good understanding of debits and
credits and should not be used by non-accountants.
n. Enter a General Journal entry when you are not sure which form to
use.
o.General Journal entries should not be used for year-end adjustments.
p. General Journal entries should not be used to enter depreciation.
correct answersA
You finished entering all the transactions for last year, and just sent the file
to the tax preparer. How do you ensure that no one accidently deletes or
edits a transaction last year?
q. In the company information window select the first month in the fiscal
year.
r.Click the close financial year icon on the home page and enter the end
of your fiscal year.
s. Complete the closed the book wizard.
t.Set the closing date and password in the accounting preferences in
the company menu. correct answersD
Which is a reason to NOT enter a general journal entry?
u. To enter transactions in another way instead of using built in forms.
v. For accountants to make entries
