Question 1
During the company setup process, which of the following are NOT steps when creating a
new company file?
1. Importing lists of customers and vendors.
2. Choosing your company's beginning Chart of Accounts.
3. Entering the company's address and other contact information.
4. Selecting the Multi-User mode option so that multiple people can log into a file at the
same time.
ANSWER
4. Selecting the Multi-User mode option so that multiple people can log into a file at the
same time.
Multi-User mode is something that you turn on later after your company file is created. You
can also change any of the other information QuickBooks enters during company file
creation, such as your Chart of Accounts and account balances.
Question 2
You've completed the setup of a QuickBooks company file. But during the company setup,
you spelled the company's name wrong. How do you fix it now?
1. Select File > Easy Step Interview from the menu. Enter the phone number in the
appropriate field.
2. Select File > Open Company from the menu and click the icon.
Select Edit > Preferences from the menu and click General Preferences.
1
,3. Change the address in this window.
4. Select Company > My Company from the menu and click the icon.
ANSWER
4. Select Company > My Company from the menu and click the icon.
This is also important to remember if your company ever moves and needs to change
business name, address or phone number.
Question 3
The two methods for creating a new company file are called...?
1. Express Start and Detailed Start
2. New Express Setup and Detailed File Setup
3. Fast Start and Detailed Setup
4. None of the above. There is only one method for creating a new company file.
ANSWER
1. Express Start and Detailed Start
Express Start gets you up and running fast, but Detailed Start lets you enter extra
information, such as your company's "Start Date," which is the date you chose to start
recording your company's financial records into QuickBooks.
Question 4
Which of the following features allows you to keep all of your lists and preferences, but start
from scratch with everything else in a company file?
1. Condense Data
2
,2. New Company File from an Existing Company File
3. Accountant's Copy
4. Portable Company File
ANSWER
1. Condense Data
Question 5
When you restore a backup company file, what happens?
1. QuickBooks lets you start entering new transactions in the backup company file.
2. QuickBooks creates a new working QuickBooks company file with all of the data that was
in the backup company file.
3. QuickBooks deletes your old company file automatically.
4. QuickBooks is reinstalled on your computer.
ANSWER
2. QuickBooks creates a new working QuickBooks company file with all of the data that was
in the backup company file.
Backup companies are useful for a variety of reasons, such as replacing a company file if a
hard drive is damaged or even reviewing a company's data from an earlier period.
Question 6
To be as safe as possible, where should you NOT save a backup company file?
1. A USB thumb drive.
2. QuickBooks' built-in online hosting service.
3
, 3. Your computer's hard drive.
4. None of the above are any safer or less safe than the other.
ANSWER
3. Your computer's hard drive.
Question 7
How do you change where your icon bar appears?
1. Click Edit > Preferences > General > Company Settings and check the box for Top, Left or
Hide Icon Bar.
2. Click and drag the icon bar to where you want it to appear.
3. Click the View menu and select Top, Left or Hide Icon Bar.
4. Right-click the icon bar and click Top, Left or Hide Icon Bar.
ANSWER
3. Click the View menu and select Top, Left or Hide Icon Bar.
Between this option, and your options in preferences, you can dramatically change the
appearance of QuickBooks.
Question 8
Which of the following is NOT a good reason to record a Journal Entry?
1. Correcting errors in the balances of accounts.
2. Recording a sale to a customer.
3. Recording the depreciation of an asset.
4. Adjusting account balances at the end of a year.
4
During the company setup process, which of the following are NOT steps when creating a
new company file?
1. Importing lists of customers and vendors.
2. Choosing your company's beginning Chart of Accounts.
3. Entering the company's address and other contact information.
4. Selecting the Multi-User mode option so that multiple people can log into a file at the
same time.
ANSWER
4. Selecting the Multi-User mode option so that multiple people can log into a file at the
same time.
Multi-User mode is something that you turn on later after your company file is created. You
can also change any of the other information QuickBooks enters during company file
creation, such as your Chart of Accounts and account balances.
Question 2
You've completed the setup of a QuickBooks company file. But during the company setup,
you spelled the company's name wrong. How do you fix it now?
1. Select File > Easy Step Interview from the menu. Enter the phone number in the
appropriate field.
2. Select File > Open Company from the menu and click the icon.
Select Edit > Preferences from the menu and click General Preferences.
1
,3. Change the address in this window.
4. Select Company > My Company from the menu and click the icon.
ANSWER
4. Select Company > My Company from the menu and click the icon.
This is also important to remember if your company ever moves and needs to change
business name, address or phone number.
Question 3
The two methods for creating a new company file are called...?
1. Express Start and Detailed Start
2. New Express Setup and Detailed File Setup
3. Fast Start and Detailed Setup
4. None of the above. There is only one method for creating a new company file.
ANSWER
1. Express Start and Detailed Start
Express Start gets you up and running fast, but Detailed Start lets you enter extra
information, such as your company's "Start Date," which is the date you chose to start
recording your company's financial records into QuickBooks.
Question 4
Which of the following features allows you to keep all of your lists and preferences, but start
from scratch with everything else in a company file?
1. Condense Data
2
,2. New Company File from an Existing Company File
3. Accountant's Copy
4. Portable Company File
ANSWER
1. Condense Data
Question 5
When you restore a backup company file, what happens?
1. QuickBooks lets you start entering new transactions in the backup company file.
2. QuickBooks creates a new working QuickBooks company file with all of the data that was
in the backup company file.
3. QuickBooks deletes your old company file automatically.
4. QuickBooks is reinstalled on your computer.
ANSWER
2. QuickBooks creates a new working QuickBooks company file with all of the data that was
in the backup company file.
Backup companies are useful for a variety of reasons, such as replacing a company file if a
hard drive is damaged or even reviewing a company's data from an earlier period.
Question 6
To be as safe as possible, where should you NOT save a backup company file?
1. A USB thumb drive.
2. QuickBooks' built-in online hosting service.
3
, 3. Your computer's hard drive.
4. None of the above are any safer or less safe than the other.
ANSWER
3. Your computer's hard drive.
Question 7
How do you change where your icon bar appears?
1. Click Edit > Preferences > General > Company Settings and check the box for Top, Left or
Hide Icon Bar.
2. Click and drag the icon bar to where you want it to appear.
3. Click the View menu and select Top, Left or Hide Icon Bar.
4. Right-click the icon bar and click Top, Left or Hide Icon Bar.
ANSWER
3. Click the View menu and select Top, Left or Hide Icon Bar.
Between this option, and your options in preferences, you can dramatically change the
appearance of QuickBooks.
Question 8
Which of the following is NOT a good reason to record a Journal Entry?
1. Correcting errors in the balances of accounts.
2. Recording a sale to a customer.
3. Recording the depreciation of an asset.
4. Adjusting account balances at the end of a year.
4
