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Exam (elaborations)

QuickBooks Chapter 6 Questions and Answers Already Passed

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Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False Voiding a purchase order removes every trace of the purchase order from the company records. False The Vendor Center displays the vendor list and information about individual vendors. True A single purchase order can be prepared and sent to several vendors. False Sales Tax account is automatically created if a company indicates that it charges sales tax on sales. True

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