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QuickBooks Chapter 7 Questions and Answers 100% Verified
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The owner's drawing account should be transferred to capital each week. False Even if entered elsewhere, all transactions are recorded in the Journal. True You must access the General Journal in order to close a period. False If Show All is selected, inactive accounts will not appear in the Chart of Accounts. False When you reconcile a bank statement, anything entered as a service charge will automatically be entered as a transaction when the reconciliation is complete. True Once an account has been used, the name cannot be changed. False The adjusting entry for depreciation may be made in the Depreciation account register. True
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quickbooks chapter 7 questions and answers
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