QuickBooks Final Exam
To memorize a report: correct answersCreate a report > Memorize
The following taxes are reported on form 941 except: correct
answersState income taxes withheld from the employee paychecks
When saving reports as a file to a disk, QuickBooks permits you to select
from all of the following file formats except correct answersAdobe text file
When creating paychecks using QuickBooks, you must deduct withholdings
from employees' pay for all of the following except: correct answersFederal
Unemployment taxes
All of the following are payroll tax liabilities owed to outside agencies
except: correct answersNet Pay
In order to prepare year-end adjustments, you would provide your
accountant a copy of your QuickBooks Company files using: correct
answersAccountant's Copy (.QBX file)
To export a report to Excel, from the Report window, click the button.
correct answersExport
QuickBooks offers all of the following payroll services
except: correct answersQuickBooks Manual Payroll Service
Which on of the following items is not needed when calculating
employee net pay? correct answersd. Federal Unemployment
Withholding
When preparing bids for customer jobs, you would print the
following: correct answersEstimates
The Audit Trail feature permits you to: correct answersc. Track all
changes made to your QuickBooks records
To enable QuickBooks payroll for The Paint Palette: correct answersc.
Click Edit > Preferences > Payroll and Employees, etc
To record a write-off of an uncollectable accounts receivable in QuickBooks,
you could do any of the following except: correct answersd. Select Edit and
then delete the uncollectable customer invoice
, QuickBooks provides payroll reports that: correct answersd. Summarize
amounts paid to employees and amounts paid in payroll taxes
To plan for future business expansion, you may want to develop a(n)
in QuickBooks. correct answersb. Budget Report
For small businesses, when is Form 941 filed with the IRS? correct
answersQuarterly
The owner of a sole proprietorship files attached to Form 1040 to
report income and tax deductions for the business. correct answersc.
Schedule C
Progress Invoicing is used when: correct answersa. A business undertakes
a job that lasts a long period of time and needs to bill customers as the job
progresses
Net Pay is equal to: correct answersa. Gross pay minus deductions for FICA
taxes and federal and state income taxes
The employer must match which on of the following taxes paid by an
employee? correct answersc. Medicare
Wholesale customers: correct answersd. Pay no sales tax
Which of the following is not one of the three steps used when recording a
credit sale in QuickBooks? correct answersa. Prepare sales receipt
The purchasing cycle include all of the following transactions except: correct
answersd. Create a sales receipt when inventory is ordered
Fixed assets may be added to the Fixed Assets List using the Enter Bills
window or: correct answersa. By using Lists > Fixed Asset Item List
When bills are paid, QuickBooks reduces the balance. correct
answersd. Accounts Payable
When recording the sale of a product, which account is increased? correct
answersa. Cost of Goods Sold
Which form of business is subject to double taxation? correct answersb. C
Corporation
Cash purchases are recorded using the window. correct answersa.
Write Checks
A company that purchases products and resells them to customers is
know as a
company. correct answersMerchandising
To memorize a report: correct answersCreate a report > Memorize
The following taxes are reported on form 941 except: correct
answersState income taxes withheld from the employee paychecks
When saving reports as a file to a disk, QuickBooks permits you to select
from all of the following file formats except correct answersAdobe text file
When creating paychecks using QuickBooks, you must deduct withholdings
from employees' pay for all of the following except: correct answersFederal
Unemployment taxes
All of the following are payroll tax liabilities owed to outside agencies
except: correct answersNet Pay
In order to prepare year-end adjustments, you would provide your
accountant a copy of your QuickBooks Company files using: correct
answersAccountant's Copy (.QBX file)
To export a report to Excel, from the Report window, click the button.
correct answersExport
QuickBooks offers all of the following payroll services
except: correct answersQuickBooks Manual Payroll Service
Which on of the following items is not needed when calculating
employee net pay? correct answersd. Federal Unemployment
Withholding
When preparing bids for customer jobs, you would print the
following: correct answersEstimates
The Audit Trail feature permits you to: correct answersc. Track all
changes made to your QuickBooks records
To enable QuickBooks payroll for The Paint Palette: correct answersc.
Click Edit > Preferences > Payroll and Employees, etc
To record a write-off of an uncollectable accounts receivable in QuickBooks,
you could do any of the following except: correct answersd. Select Edit and
then delete the uncollectable customer invoice
, QuickBooks provides payroll reports that: correct answersd. Summarize
amounts paid to employees and amounts paid in payroll taxes
To plan for future business expansion, you may want to develop a(n)
in QuickBooks. correct answersb. Budget Report
For small businesses, when is Form 941 filed with the IRS? correct
answersQuarterly
The owner of a sole proprietorship files attached to Form 1040 to
report income and tax deductions for the business. correct answersc.
Schedule C
Progress Invoicing is used when: correct answersa. A business undertakes
a job that lasts a long period of time and needs to bill customers as the job
progresses
Net Pay is equal to: correct answersa. Gross pay minus deductions for FICA
taxes and federal and state income taxes
The employer must match which on of the following taxes paid by an
employee? correct answersc. Medicare
Wholesale customers: correct answersd. Pay no sales tax
Which of the following is not one of the three steps used when recording a
credit sale in QuickBooks? correct answersa. Prepare sales receipt
The purchasing cycle include all of the following transactions except: correct
answersd. Create a sales receipt when inventory is ordered
Fixed assets may be added to the Fixed Assets List using the Enter Bills
window or: correct answersa. By using Lists > Fixed Asset Item List
When bills are paid, QuickBooks reduces the balance. correct
answersd. Accounts Payable
When recording the sale of a product, which account is increased? correct
answersa. Cost of Goods Sold
Which form of business is subject to double taxation? correct answersb. C
Corporation
Cash purchases are recorded using the window. correct answersa.
Write Checks
A company that purchases products and resells them to customers is
know as a
company. correct answersMerchandising
