QuickBooks 101: Final Exam with 100% correct answers 2025

QuickBooks 101: Final Exam

How many bank accounts can you download transactions from in
QuickBooks Online Simple Start? correct answers1

Federal law requires businesses to have some kind of accounting system in
place. True or False? correct answersTrue

Where would you find the tools that allow you to access the tasks, reports,
and forms available in QuickBooks? correct answersThe Menu Bar

Which center would you use to download and enter transactions directly
from your credit card or bank accounts? correct answersBank Feeds
Center

How many account categories are there in QuickBooks? correct
answers6

Each range of numbers in a chart of accounts represents a different type
of account. What type typically begins with 2? correct answersLiability
accounts

What is the file extension for a Chart of Accounts file that can be
imported into QuickBooks? correct answers.iif

Where would you go to view the Chart of Accounts? correct
answersCompany > Chart of Accounts

You cannot delete an account unless an item or transaction references
that account. True or False? correct answersFalse

Each range of numbers in a chart of accounts represents a different type
of account. What type typically begins with a 1? correct answersAsset
accounts

Account numbers are turned off by default in QuickBooks. True or
False? correct answersTrue

QuickBooks automatically sets up a Chart of Accounts for you based on
your industry. True or False? correct answersTrue

You can only delete an account if nothing in QuickBooks references it. True
or False? correct answersTrue

Inactive accounts will still appear in your Chart of Accounts. True or
False? correct answersTrue

, Where would you find the New Vendor button in the Vendor
Center? correct answersTop left corner

Where would you go to create a Customer Type List? correct answersLists >
Customer & Vendor Profile Lists > Customer Type

How many tabs are in the pane on the left side of the Customer
Center? correct answers2

Jobs that your company performs can be assigned to customers. True or
False? correct answersTrue

You cannot delete columns in the Vendors tab of the Vendor center. True
or False? correct answersFalse

You cannot create custom fields in customer list in QuickBooks. True or
False? correct answersFalse

You cannot add more columns to the Customer & Jobs list. True or False?
correct answersFalse

By default, how many columns does the Customers & Jobs list have?
correct answers3

Where would you go to reach the Lead Center? correct
answersCustomers > Lead Center

In the Vendors tab of the Vendor Center, you will see, by default, three
columns for each vendor listed. True or False? correct answersTrue

For sales taxes that are collected in a transaction but are owed to different
agencies you should choose Sales Tax Item from the Item Type dropdown list.
True or False? correct answersTrue

Group items are grouped together because you sell them together. True
or False? correct answersTrue

Where would you go to add or edit multiple customer records? correct
answersLists > Add/Edit Multiple List Entries

What item type would you select if the item is a raw material that you use to
make other items? correct answersInventory Assembly

QuickBooks gives you the ability to add or edit multiple entries at once.
True or False? correct answersTrue