QuickBooks Chapter 07 Questions and Answers Rated A+

QuickBooks Chapter 07 Questions and
Answers Rated A+
1. A period that the company uses for accounting purposes and preparing financial statements.

a. First quarter.

b. Fourth quarter.

c. Fiscal year.

d. End of year.


e. None. ✔✔Fiscal year.




2. A software design that emphasizes separating the functions of a program into independent,

interchangeable components is called:

a. A user interface.

b. The operating system.

c. Web-delivered software.

d. Modules.


e. All ✔✔Modules.




3. The accounts shown on the balance sheet are called:

, a. Permanent accounts.

b. Temporary accounts.

c. Transaction entries.

d. Customized accounts.


e. All. ✔✔Permanent accounts.




4. Accounts that are closed as the end of the year are called:

a. Permanent accounts.

b. Temporary accounts.

c. Balance sheet accounts.

d. Trial balance accounts.


e. All. ✔✔Temporary accounts.




5. How do you access Account and Settings?

a. Plus sign for Settings menu.

b. Magnifying-glass for search.

c. Question mark for printing.

d. Gear icon.