QuickBooks Mayterm Chapter 3 Test; Questions with Complete Solutions 2024/25 Update

QuickBooks Mayterm Chapter 3 Test;
Questions with Complete Solutions 2024/25
Update
1: The Navigation bar is where the link to the Sales center is located. ✔✔True


2: You can create a statement, receipt, invoice, or other transaction using the

Action menu in the


Sales center. ✔✔True


3: A sales transaction can only be recorded when the customer pays for the

product or service at


the time of the sale. ✔✔False


4: The sales form settings can be found in Account and Settings under the Your

Company


heading. ✔✔True


5: You cannot change the default settings on a sales form, but you can

implement other settings.


✔✔False


6: In the Reports center, the recommended reports are determined by the

business type you set up

, QuickBooks Mayterm Chapter 3 Test;
Questions with Complete Solutions 2024/25
Update
in the beginning. ✔✔True


7: Using the A/R Aging Summary report is useful for managing overdue invoices.

✔✔True


8: When the Sales center is displayed, you can see, among other items, _____.

✔✔the balance


each customer owes


9: In QuickBooks Online, a sub-customer is created _____. ✔✔to track multiple

projects,


locations, or members of a single customer


10: Which of the following statements is NOT true regarding sales receipts and

invoices?


✔✔The deposit in QuickBooks Online does not have to match the bank deposit

exactly.


11: In which account can you collect more than one payment before making a

deposit?