QUICKBOOKS CHAPTER #9 TEST EXAM
QUESTIONS AND ANSWERS
The billable hours are automatically imported - Answer-When job time is marked as
Billable on a timesheet, when you create paychecks or bills:
You can include billable mileage when you create an invoice - Answer-Which statement
about time tracking is true?
Match each term to its description - Answer-- Estimate: Can be created for either a
customer or a job
- Job Costing: Will help in creating future estimates
- Progress Invoicing: Allows you to invoice from an estimate in stages
- Change orders: Done after the estimate has been created
- Finance charge: Assessed to customers who have not paid on time
Match each field from the time data entry windows to its description - Answer--
Customer:Job : This helps you keep track of information needed for job costing
- Service Item: Enter information here to track services
- Payroll Item: Enter information here to pay employees from time data
- Billable: Check this field to pass on expenses to a customer
- Notes: Enter information here to populate the description field in an invoice
False - Answer-You can create estimates for jobs but NOT customers
False - Answer-If you will perform only one job for a customer, you must create a job for
that customer to track costing information
True - Answer-QuickBooks allows you to create multiple estimates for a single customer
or job
True - Answer-You can create a progress invoice for just a single item
True - Answer-Funds sold as a gift certificate are considered unearned income
True - Answer-QuickBooks can calculate finance charges due based on preferences
you set
True - Answer-The Time by Job Summary report shows the number of hours spent on
each job being tracked
True - Answer-The timer feature is used for timed activities on the current day only
False - Answer-Mileage tracking is done so you can reimburse employees for their
commutes to/from work
QUESTIONS AND ANSWERS
The billable hours are automatically imported - Answer-When job time is marked as
Billable on a timesheet, when you create paychecks or bills:
You can include billable mileage when you create an invoice - Answer-Which statement
about time tracking is true?
Match each term to its description - Answer-- Estimate: Can be created for either a
customer or a job
- Job Costing: Will help in creating future estimates
- Progress Invoicing: Allows you to invoice from an estimate in stages
- Change orders: Done after the estimate has been created
- Finance charge: Assessed to customers who have not paid on time
Match each field from the time data entry windows to its description - Answer--
Customer:Job : This helps you keep track of information needed for job costing
- Service Item: Enter information here to track services
- Payroll Item: Enter information here to pay employees from time data
- Billable: Check this field to pass on expenses to a customer
- Notes: Enter information here to populate the description field in an invoice
False - Answer-You can create estimates for jobs but NOT customers
False - Answer-If you will perform only one job for a customer, you must create a job for
that customer to track costing information
True - Answer-QuickBooks allows you to create multiple estimates for a single customer
or job
True - Answer-You can create a progress invoice for just a single item
True - Answer-Funds sold as a gift certificate are considered unearned income
True - Answer-QuickBooks can calculate finance charges due based on preferences
you set
True - Answer-The Time by Job Summary report shows the number of hours spent on
each job being tracked
True - Answer-The timer feature is used for timed activities on the current day only
False - Answer-Mileage tracking is done so you can reimburse employees for their
commutes to/from work
