QuickBooks Chapter 07 (Latest); Questions and Answers

QuickBooks Chapter 07 (Latest); Questions and
Answers
1. A period that the company uses for accounting purposes and preparing

financial statements.


a. First quarter.


b. Fourth quarter.


c. Fiscal year.


d. End of year.


e. None. ✔✔Fiscal year.


2. A software design that emphasizes separating the functions of a program into

independent,


interchangeable components is called:

a. A user interface.


b. The operating system.


c. Web-delivered software.


d. Modules.


e. All ✔✔Modules.

, QuickBooks Chapter 07 (Latest); Questions and
Answers
3. The accounts shown on the balance sheet are called:


a. Permanent accounts.

b. Temporary accounts.


c. Transaction entries.


d. Customized accounts.


e. All. ✔✔Permanent accounts.


4. Accounts that are closed as the end of the year are called:


a. Permanent accounts.


b. Temporary accounts.


c. Balance sheet accounts.


d. Trial balance accounts.


e. All. ✔✔Temporary accounts.


5. How do you access Account and Settings?


a. Plus sign for Settings menu.

b. Magnifying-glass for search.