QuickBooks Chapter 8 - New Company
Setup; Questions with Complete Solutions
2024/25 Update
In the Easy Step Interview, you must identify ✔✔Type of industry, company
name, and
company address. All of these
Which tax form would you select for a Subchapter S corporation? ✔✔Form
1120S
To create a new company data file in QuickBooks, use the: ✔✔File menu > New
Company
When setting up a new company, QuickBooks automatically creates: ✔✔Chart of
accounts
To edit an account in the Chart Of Accounts ✔✔From the chart of accounts
window > account >
Edit Account
The Doing Business as name identifies a company for: ✔✔Sales
The legal name identifies a company for: ✔✔Patents
, QuickBooks Chapter 8 - New Company
Setup; Questions with Complete Solutions
2024/25 Update
Which icon does not appear in the Vendors section for service companies that
do not sell
inventory? ✔✔Receive Inventory
The vendor list contain info about: ✔✔Addresses, contacts and phone numbers
for suppliers
The customer list contains info about: ✔✔Customer addresses, contacts and
phone numbers
What options do you have when adding the "People You Do Business With"
section of the
QuickBooks Setup Window? ✔✔All Of these. Importing from Outlook or
importing from
Yahoo or Gmail and posting from Excel or entering manually
To display account numbers in chart of accounts choose: ✔✔Edit > Preferences
A company's computer is classified as what account type? ✔✔Fixed Asset
Setup; Questions with Complete Solutions
2024/25 Update
In the Easy Step Interview, you must identify ✔✔Type of industry, company
name, and
company address. All of these
Which tax form would you select for a Subchapter S corporation? ✔✔Form
1120S
To create a new company data file in QuickBooks, use the: ✔✔File menu > New
Company
When setting up a new company, QuickBooks automatically creates: ✔✔Chart of
accounts
To edit an account in the Chart Of Accounts ✔✔From the chart of accounts
window > account >
Edit Account
The Doing Business as name identifies a company for: ✔✔Sales
The legal name identifies a company for: ✔✔Patents
, QuickBooks Chapter 8 - New Company
Setup; Questions with Complete Solutions
2024/25 Update
Which icon does not appear in the Vendors section for service companies that
do not sell
inventory? ✔✔Receive Inventory
The vendor list contain info about: ✔✔Addresses, contacts and phone numbers
for suppliers
The customer list contains info about: ✔✔Customer addresses, contacts and
phone numbers
What options do you have when adding the "People You Do Business With"
section of the
QuickBooks Setup Window? ✔✔All Of these. Importing from Outlook or
importing from
Yahoo or Gmail and posting from Excel or entering manually
To display account numbers in chart of accounts choose: ✔✔Edit > Preferences
A company's computer is classified as what account type? ✔✔Fixed Asset
