Computer based accounting 100 final multiple choice

A journal entry is a transaction in which: - ️️There are at least two parts - a debit and a credit, debt and credit distribution lines, each line has an account from the chart of accounts, the total of debits and credits equal A list of all the accounts used in the General Ledger is called a: - ️️Chart of Accounts A product that is purchased from vendors for sale to customers is called: - ️️Inventory Adjusting entries are made on the: - ️️last day of the month, quarter, or year After adjustments are journalized and posted, the report(s) updated is/are: - ️️trail balance, profit and loss, balance sheet, statement of cash flows After recording the adjusting entry for rent paid on January 1, Account 125 Prepaid Rent has this balance: - ️️0.00 Another name for the Chart of Accounts is: - ️️Account list Asset values and average costs are shown on this report: - ️️inventory valuation summary Before adding customers, check QBO's: - ️️Account and settings Cash sales are recorded on this window: - ️️sales receipt Checks that are issued by QB Cloud are shown on this report: - ️️Register, Account 101 Checking Checks, payments, bills, bank deposits, and transfers are entered on: - ️️Specialized screens Credit card receipts are entered on this window: - ️️sales receipt Customer payments are recorded on the: - ️️receive payment From the default you can: - ️️See the dashboard, Profit and loss, Expenses, Bank accounts From the plus (+) sign, you can: - ️️Create an invoice, Create a sales receipt, enter a bill, write a check If you recorded fourth quarter transactions in 2017, January transactions are recorded for: - ️️2018