QuickBooks Study Guide Questions 1-
150 (Parts 1-3)
Why would you hide or collapse sub accounts on a report? correct
answersD.) To temporarily hide unnecessary details and hide parent
accounts
What should you do after you click Save and Close on a Customer Credit
Memo? correct answersD.) Choose between retained as an available
credit, give a refund or apply to an invoice
Which of the following can be memorized in QuickBooks? correct
answersA.) Checks
Which is NOT shown on the Payroll Summary Report in QuickBooks?
correct answersA.) Information necessary to complete your state
unemployment tax form
The bank notified you that a customer's check you deposited has bounced.
The customer did not have sufficient funds to cover the check. What should
you do? correct answersB.) Record a transaction to show the customer owes
you the money and that the checking balance has decreased by that same
amount.
Suppose you always want all reports to show a specific size and color, how
do you set the standard or preference in QuickBooks so you don't have to
customize each report? correct answersD.) Click the edit menu and select
preferences then click the reports and graphs group to set your report
preferences.
Suppose you want to restrict which users can access customer credit card
numbers. How do you do this? correct answersB.) Give the user access to
sales and accounts receivable but do not check the complete credit card
numbers.
Which of the following is a possible reason for a bank reconciliation
discrepancy? correct answersB.) The beginning balance calculated by
QuickBooks does not match last months ending phase.
Which of the following statements is true regarding undeposited
funds? correct answersD.) It is an account used to record payments
before you make a deposit
Which accounts are affected when you enter Time in QuickBooks? correct
answersD.) Accounts Receivable
Workers who require a W2 tax form at the end of the year should be added
to which of the following lists? correct answersA.) Employees
, If you have a customized report that you use each month,which feature lets
you run the report with updated data each month? correct answersB.)
Memorize Report
What is the primary reason for setting a closing date in QuickBooks? correct
answersB.) To restrict users from deleting, editing or adding transactions to
last year.
Your new employee earned an annual salary of $40,000. How do you
enter this into QuickBooks? correct answersC.) Enter 40,000 in the
payroll info window.
What steps must you complete to use the payroll center to pay payroll
liabilities? correct answersC.) Set deposit frequencies
Name the section of the Balance Sheet. correct answersD.) Assets,
Liabilities, and Equity
When you create a new company file, QuickBooks asks for your start date.
What is the best definition of start date in QuickBooks? correct answersC.)
The day you chose to start the new company file.
Which of the following statements is not true regarding entering and
paying bills in QuickBooks? correct answersB.) If you enter the bills
windows to record a bill, do not use the write checks window or check
register to pay that same bill.
How do you use a different forms template when creating a new transaction?
(i.e. Invoice) correct answersD.) Open the form, click the templates drop
down list and select the appropriate form.
How do you change the report basis, accrual vs. cash for just one report?
correct answersB.) Click the modify report button on the report and then
choose accrual or cash on the display pad.
How would you track customer birth dates in QuickBooks? correct
answersB.) Add a custom field to the customer list
How do you change text in the header/footer of a report? correct
answersC.) Click the Modify Report button on the report and then change
the header footer tab
Where can you see a thumbnail sample of each report in QuickBooks
along with a description of what the report tells you? correct answersC.)
Report Center
What transaction in QuickBooks should you use if your customer pays you
when you provide the goods or services? correct answersA.) Sales Receipt
How can you ensure that invoice detail does not appear on a customer
statement? correct answersA.) Uncheck the show invoice item detail on
statement's box in the create statements window.
150 (Parts 1-3)
Why would you hide or collapse sub accounts on a report? correct
answersD.) To temporarily hide unnecessary details and hide parent
accounts
What should you do after you click Save and Close on a Customer Credit
Memo? correct answersD.) Choose between retained as an available
credit, give a refund or apply to an invoice
Which of the following can be memorized in QuickBooks? correct
answersA.) Checks
Which is NOT shown on the Payroll Summary Report in QuickBooks?
correct answersA.) Information necessary to complete your state
unemployment tax form
The bank notified you that a customer's check you deposited has bounced.
The customer did not have sufficient funds to cover the check. What should
you do? correct answersB.) Record a transaction to show the customer owes
you the money and that the checking balance has decreased by that same
amount.
Suppose you always want all reports to show a specific size and color, how
do you set the standard or preference in QuickBooks so you don't have to
customize each report? correct answersD.) Click the edit menu and select
preferences then click the reports and graphs group to set your report
preferences.
Suppose you want to restrict which users can access customer credit card
numbers. How do you do this? correct answersB.) Give the user access to
sales and accounts receivable but do not check the complete credit card
numbers.
Which of the following is a possible reason for a bank reconciliation
discrepancy? correct answersB.) The beginning balance calculated by
QuickBooks does not match last months ending phase.
Which of the following statements is true regarding undeposited
funds? correct answersD.) It is an account used to record payments
before you make a deposit
Which accounts are affected when you enter Time in QuickBooks? correct
answersD.) Accounts Receivable
Workers who require a W2 tax form at the end of the year should be added
to which of the following lists? correct answersA.) Employees
, If you have a customized report that you use each month,which feature lets
you run the report with updated data each month? correct answersB.)
Memorize Report
What is the primary reason for setting a closing date in QuickBooks? correct
answersB.) To restrict users from deleting, editing or adding transactions to
last year.
Your new employee earned an annual salary of $40,000. How do you
enter this into QuickBooks? correct answersC.) Enter 40,000 in the
payroll info window.
What steps must you complete to use the payroll center to pay payroll
liabilities? correct answersC.) Set deposit frequencies
Name the section of the Balance Sheet. correct answersD.) Assets,
Liabilities, and Equity
When you create a new company file, QuickBooks asks for your start date.
What is the best definition of start date in QuickBooks? correct answersC.)
The day you chose to start the new company file.
Which of the following statements is not true regarding entering and
paying bills in QuickBooks? correct answersB.) If you enter the bills
windows to record a bill, do not use the write checks window or check
register to pay that same bill.
How do you use a different forms template when creating a new transaction?
(i.e. Invoice) correct answersD.) Open the form, click the templates drop
down list and select the appropriate form.
How do you change the report basis, accrual vs. cash for just one report?
correct answersB.) Click the modify report button on the report and then
choose accrual or cash on the display pad.
How would you track customer birth dates in QuickBooks? correct
answersB.) Add a custom field to the customer list
How do you change text in the header/footer of a report? correct
answersC.) Click the Modify Report button on the report and then change
the header footer tab
Where can you see a thumbnail sample of each report in QuickBooks
along with a description of what the report tells you? correct answersC.)
Report Center
What transaction in QuickBooks should you use if your customer pays you
when you provide the goods or services? correct answersA.) Sales Receipt
How can you ensure that invoice detail does not appear on a customer
statement? correct answersA.) Uncheck the show invoice item detail on
statement's box in the create statements window.
