QuickBooks Exam
What are the 2 main Financial Statements you can run from the
"Company and Financial" category of reports? correct
answersBalance Sheet, Profit and Loss
When should you create an invoice in QuickBooks? correct answersWhen a
customer purchases goods or services but does not pay you at the time of
the sale
You've been hired by a company that started in 1911. They've never used
QuickBooks. During the EasyStep Interview, what "Start Date" should you
use? correct answersThe date you want to begin tracking the company's
finances in QuickBooks.
Which of the following is NOT a backup option in QuickBooks? correct
answersAll of the above are QuickBooks backup options
If you choose to "Remove Transactions as of a specific date" from the
"Clean Up Company Data" window, what does QuickBooks do? correct
answersRemoves all transactions while leaving lists, preferences, and
service subscriptions intact.
What item type should you use for inventory that you assemble from
other items and then sell? correct answersInventory Assembly
What is the purpose of subaccounts? correct answersTrack finances in
more detail by grouping accounts in a logical fashion and showing a
subtotal for those accounts
You need to enter the same transaction each month (for example, an
insurance payment). How can you automate this process in QuickBooks?
correct answersWhile the transaction is on the screen, choose Edit >
Memorize check (or the name of the transaction).
Which of the following statements is true concerning items? correct
answersYou can use one item to represent different servicesor goods; Items
allow you to track your sales in more detail without cluttering your Chart of
Accounts or Profit & Loss.; To create an invoice, you must use an item.
When should you use a Sales Receipt in QuickBooks? correct answersTo
record a customer payment at the time of sale
What is the maximum number of names that can be included on the
Names lists in QuickBooks Pro or Premier? correct answers14,500
What are the 2 main Financial Statements you can run from the
"Company and Financial" category of reports? correct
answersBalance Sheet, Profit and Loss
When should you create an invoice in QuickBooks? correct answersWhen a
customer purchases goods or services but does not pay you at the time of
the sale
You've been hired by a company that started in 1911. They've never used
QuickBooks. During the EasyStep Interview, what "Start Date" should you
use? correct answersThe date you want to begin tracking the company's
finances in QuickBooks.
Which of the following is NOT a backup option in QuickBooks? correct
answersAll of the above are QuickBooks backup options
If you choose to "Remove Transactions as of a specific date" from the
"Clean Up Company Data" window, what does QuickBooks do? correct
answersRemoves all transactions while leaving lists, preferences, and
service subscriptions intact.
What item type should you use for inventory that you assemble from
other items and then sell? correct answersInventory Assembly
What is the purpose of subaccounts? correct answersTrack finances in
more detail by grouping accounts in a logical fashion and showing a
subtotal for those accounts
You need to enter the same transaction each month (for example, an
insurance payment). How can you automate this process in QuickBooks?
correct answersWhile the transaction is on the screen, choose Edit >
Memorize check (or the name of the transaction).
Which of the following statements is true concerning items? correct
answersYou can use one item to represent different servicesor goods; Items
allow you to track your sales in more detail without cluttering your Chart of
Accounts or Profit & Loss.; To create an invoice, you must use an item.
When should you use a Sales Receipt in QuickBooks? correct answersTo
record a customer payment at the time of sale
What is the maximum number of names that can be included on the
Names lists in QuickBooks Pro or Premier? correct answers14,500
