QUICK-BOOKS CERTIFICATION EXAM
QUESTIONS WITH CORRECT ANSWERS
If you moved a list entry up or down, what happens when you add a new entry to the
list? - Answer-Quickbooks adds new list entries to the top of the list, regardless of
alphabetic order.
How do you combine or merge two list entries? - Answer-Rename the unwanted list
entry to match the name of the list entry you want to merge into.
What transaction/form do you begin with to enter a vendor credit? - Answer-Enter Bill
What happens to the inventory asset account when you enter a purchase order for
inventory? - Answer-No accounts are affected
When should you NEVER delete a check? - Answer-You printed a check, and the check
number has been used.
How do you track accounts payable in QuickBooks? - Answer-Enter a bill, and then use
the Pay Bills window.
Suppose you have a subcontractor who receives a 1099 from your company. Which list
should you add them to? - Answer-Vendor List
When you start a company or are hired as a bookkeeper, it is important to know which
edition of QuickBooks you are using. What are the major QuickBooks editions? -
Answer-QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks
Enterprise Solutions
What happens when you press F2 in QuickBooks? - Answer-QuickBooks opens the
Product Information windows which includes version and company file information.
Why would you restore a data file from the backup file? - Answer-All of the above
When would you enter a journal entry? - Answer-To correct errors (if you have a strong
accounting background)
How do you switch to Multi-User Mode? - Answer-Choose File > Switch to Multi-user
Mode from the menu.
To record a bounced check, you open the same Receive Payment window that you
used to receive the original payment, and click "Bounced Check". QuickBooks opens
the Bounced Check wizard. What does QuickBooks do when you finish this wizard? -
Answer-D
, Which of the following Payroll Services are available with QuickBooks? - Answer-All of
the above
Your company just hired a subcontractor to work 40 hours per week on a job. Which list
should you add the person to? - Answer-Vendors
How do you display a group of reports? - Answer-Click the Reports menu and select
Process Multiple Reports
Once you've completed the setup of a new company file, how do you change company
information, such as business name, address, or phone number? - Answer-Select
Company > Company Information from the menu
The company file you are working on is a mess. You decide to start a new file. To save
time, you want to keep all the lists and preferences and just delete the transactions.
How do you do this? - Answer-Create a new company and select Copy Settings from
Another Company in the Easy Step Interview.
There are two primary financial statements that summarize the Chart of Accounts.
Which of the following is one of these reports? - Answer-Balance Sheet
When you run a Profit & Loss on the accrual basis, what does QuickBooks include as
income? - Answer-All sales
How do you pay payroll liabilities in QuickBooks? - Answer-Select the payments you
want to make from the Pay Scheduled Liabilities list in the Payroll Center. Then click
View/Pay.
What is the end result of the Payroll Setup Interview? - Answer-QuickBooks has an
accurate record of employees, earnings, deductions, and payroll history, and you are
ready to create your first paycheck.
You need to restore a company file from a backup. - Answer-Click the File Menu >
Choose Open or Restore Company > Select Restore a backup copy, click Next, and
follow the steps.
How do you change the report basis (Accrual vs. Cash) for just one report? - Answer-
Click the Customize Report button on the report and then choose Accrual or Cash on
the Display tab.
Suppose you always want all reports to show with a specific front size and color. How
do you set this standard or preference in QuickBooks so you don't have to customize
each report? - Answer-Click the Edit menu and select Preferences. Then click the
Reports & Graphs group to set your report preferences.
QUESTIONS WITH CORRECT ANSWERS
If you moved a list entry up or down, what happens when you add a new entry to the
list? - Answer-Quickbooks adds new list entries to the top of the list, regardless of
alphabetic order.
How do you combine or merge two list entries? - Answer-Rename the unwanted list
entry to match the name of the list entry you want to merge into.
What transaction/form do you begin with to enter a vendor credit? - Answer-Enter Bill
What happens to the inventory asset account when you enter a purchase order for
inventory? - Answer-No accounts are affected
When should you NEVER delete a check? - Answer-You printed a check, and the check
number has been used.
How do you track accounts payable in QuickBooks? - Answer-Enter a bill, and then use
the Pay Bills window.
Suppose you have a subcontractor who receives a 1099 from your company. Which list
should you add them to? - Answer-Vendor List
When you start a company or are hired as a bookkeeper, it is important to know which
edition of QuickBooks you are using. What are the major QuickBooks editions? -
Answer-QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks
Enterprise Solutions
What happens when you press F2 in QuickBooks? - Answer-QuickBooks opens the
Product Information windows which includes version and company file information.
Why would you restore a data file from the backup file? - Answer-All of the above
When would you enter a journal entry? - Answer-To correct errors (if you have a strong
accounting background)
How do you switch to Multi-User Mode? - Answer-Choose File > Switch to Multi-user
Mode from the menu.
To record a bounced check, you open the same Receive Payment window that you
used to receive the original payment, and click "Bounced Check". QuickBooks opens
the Bounced Check wizard. What does QuickBooks do when you finish this wizard? -
Answer-D
, Which of the following Payroll Services are available with QuickBooks? - Answer-All of
the above
Your company just hired a subcontractor to work 40 hours per week on a job. Which list
should you add the person to? - Answer-Vendors
How do you display a group of reports? - Answer-Click the Reports menu and select
Process Multiple Reports
Once you've completed the setup of a new company file, how do you change company
information, such as business name, address, or phone number? - Answer-Select
Company > Company Information from the menu
The company file you are working on is a mess. You decide to start a new file. To save
time, you want to keep all the lists and preferences and just delete the transactions.
How do you do this? - Answer-Create a new company and select Copy Settings from
Another Company in the Easy Step Interview.
There are two primary financial statements that summarize the Chart of Accounts.
Which of the following is one of these reports? - Answer-Balance Sheet
When you run a Profit & Loss on the accrual basis, what does QuickBooks include as
income? - Answer-All sales
How do you pay payroll liabilities in QuickBooks? - Answer-Select the payments you
want to make from the Pay Scheduled Liabilities list in the Payroll Center. Then click
View/Pay.
What is the end result of the Payroll Setup Interview? - Answer-QuickBooks has an
accurate record of employees, earnings, deductions, and payroll history, and you are
ready to create your first paycheck.
You need to restore a company file from a backup. - Answer-Click the File Menu >
Choose Open or Restore Company > Select Restore a backup copy, click Next, and
follow the steps.
How do you change the report basis (Accrual vs. Cash) for just one report? - Answer-
Click the Customize Report button on the report and then choose Accrual or Cash on
the Display tab.
Suppose you always want all reports to show with a specific front size and color. How
do you set this standard or preference in QuickBooks so you don't have to customize
each report? - Answer-Click the Edit menu and select Preferences. Then click the
Reports & Graphs group to set your report preferences.
