QuickBooks Chapter 7 - Reports & Graphs Already Passed

QuickBooks Chapter 7 - Reports &
Graphs Already Passed
The order of the steps in the accounting cycle includes: ✔✔Trial balance, adjusting entries,

adjusted trial balance, financial reports




What is an asset? ✔✔What a company owns




To record adjusting journal entries in QuickBooks, select: ✔✔Accountant menu, Make General

Journal Entries




Examples of management reports for internal decision making include all of the following except

✔✔1120S Report




Examples of management reports for internal decision making includes ✔✔Cash budget, cash

forecast, and A/R Aging summary




Income tax reports in QuickBooks include all of the following except: ✔✔Income Tax mapping

report

, Income tax reports includes ✔✔Income tax preparation, detail, and summary reports




Sales are recorded under cash basic accounting when: ✔✔Cash is collected from customers




Income statement lists ✔✔Income and Expenses




Which one of the following classifications is found on Statement of Cash Flows? ✔✔Cash flows

from financing activities




What is Owner's equity? ✔✔What remains after liabilities are satisfied




To print General Ledger: ✔✔Select Report Center > Accountant & Taxes, General Ledger




The Profit & Loss Statement lists ✔✔Income and Expenses




What info does a Balance sheet provide? ✔✔A company's financial position on a specific date