AIS- Quickbooks Exam 2
Before adding customers, check QBO's: correct answersAccount and
Settings.
The Customers page includes the: correct answersAll
When cash sales are recorded, use: correct answersSales Receipt.
What customers owe your business is known as: correct answersAccounts
receivable.
The following transaction affects the customer's balance. correct
answersCredit memo.
To see customer transactions and account balances, display the: correct
answersA/R Register.
Products and services are associated with this type of account: correct
answersIncome.
In this type of report, each transaction's debit and credit is
shown: correct answersJournal.
The inventory valuation summary shows: correct answersAll
The Audit Log displays events occurred in: correct answersYour
local time. The focus of Chapter 5 is customers and sales: correct
answersTrue Starting data is displayed for 11/1/20XX. correct
answersFalse
A sales receipt is used for customer sales on account. correct
answersFalse
Credit transactions from customers are accounts payable
transactions. correct answersFalse
Credit memos apply returns to the customer's balance. correct
answersTrue
Registers can be used to look at transactions and account
balances. correct answersTrue
The November bank statement shows checking account activity through
10/30/20XX. correct answersFalse
On invoices and other sales transactions, you choose products and
services. correct answersTrue
, The Journal is an example of a specialized screen. correct answersFalse
The account distribution for an invoice includes debits to Account 105
Account Receivable/customer and Account 501 Cost of Goods Sold; and
credits to Account 401 Sales, and Account 115 Merchandise Inventory.
correct answersFalse
When issuing checks or ATMs for expenses, refer to the: correct
answersTransaction register.
To show the amount charged for earlier disbursements, select <Yes> to
this window prompt: correct answersAuto Recall Dialog.
Vendor purchases are tracked by the following: correct answersBill
number.
When customers pay what they owe, the check is payable to: correct
answersQB Cloud_Student Name.
The terms of vendor payments are: correct answersNet 30.
The Sales Receipts window is used for the following: correct answersCash
and credit card sales.
The trial balance account totals for the fourth quarter are the same
as: correct answersTransaction detail by account.
The customer balance summary total agrees with this account
balance: correct answersAccount 105 Accounts Receivable
The vendor balance summary total agrees with this account
balance: correct answersAccount 201 Accounts Payable.
The Inventory valuation Summary shows: correct answersAll of
the above. In Chapter 6, documents trigger transaction analysis.
correct answersTrue
A remittance is the action of sending money in payment of a bill.
correct answersTrue
To make sure you are starting in the correct place, display the 11/2/20XX to
11/30/20XX trial balance. correct answersFalse
In Chapter 6, all transactions occurred during November. correct
answersFalse
When customer payments are received, use the Sales Receipts
window. correct answersFalse
Before adding customers, check QBO's: correct answersAccount and
Settings.
The Customers page includes the: correct answersAll
When cash sales are recorded, use: correct answersSales Receipt.
What customers owe your business is known as: correct answersAccounts
receivable.
The following transaction affects the customer's balance. correct
answersCredit memo.
To see customer transactions and account balances, display the: correct
answersA/R Register.
Products and services are associated with this type of account: correct
answersIncome.
In this type of report, each transaction's debit and credit is
shown: correct answersJournal.
The inventory valuation summary shows: correct answersAll
The Audit Log displays events occurred in: correct answersYour
local time. The focus of Chapter 5 is customers and sales: correct
answersTrue Starting data is displayed for 11/1/20XX. correct
answersFalse
A sales receipt is used for customer sales on account. correct
answersFalse
Credit transactions from customers are accounts payable
transactions. correct answersFalse
Credit memos apply returns to the customer's balance. correct
answersTrue
Registers can be used to look at transactions and account
balances. correct answersTrue
The November bank statement shows checking account activity through
10/30/20XX. correct answersFalse
On invoices and other sales transactions, you choose products and
services. correct answersTrue
, The Journal is an example of a specialized screen. correct answersFalse
The account distribution for an invoice includes debits to Account 105
Account Receivable/customer and Account 501 Cost of Goods Sold; and
credits to Account 401 Sales, and Account 115 Merchandise Inventory.
correct answersFalse
When issuing checks or ATMs for expenses, refer to the: correct
answersTransaction register.
To show the amount charged for earlier disbursements, select <Yes> to
this window prompt: correct answersAuto Recall Dialog.
Vendor purchases are tracked by the following: correct answersBill
number.
When customers pay what they owe, the check is payable to: correct
answersQB Cloud_Student Name.
The terms of vendor payments are: correct answersNet 30.
The Sales Receipts window is used for the following: correct answersCash
and credit card sales.
The trial balance account totals for the fourth quarter are the same
as: correct answersTransaction detail by account.
The customer balance summary total agrees with this account
balance: correct answersAccount 105 Accounts Receivable
The vendor balance summary total agrees with this account
balance: correct answersAccount 201 Accounts Payable.
The Inventory valuation Summary shows: correct answersAll of
the above. In Chapter 6, documents trigger transaction analysis.
correct answersTrue
A remittance is the action of sending money in payment of a bill.
correct answersTrue
To make sure you are starting in the correct place, display the 11/2/20XX to
11/30/20XX trial balance. correct answersFalse
In Chapter 6, all transactions occurred during November. correct
answersFalse
When customer payments are received, use the Sales Receipts
window. correct answersFalse
