QuickBooks Online - U.S. Practice Exam
1 Testing
Which of the following statements is true regarding Undeposited Funds in
QuickBooks? correct answersUndeposited Funds is an account used to record
payments before you make a deposit/
What is one reason to not use a deposit or journal entry screen to record
sales? correct answersIf you record sales through the bank deposit or journal
entry screen, the sale will not appear on sales reports.
You're setting up a new customer. How do you tell QuickBooks that this
customer's invoices should be due 30 days after they're issued? correct
answersSet the customer's Terms to Net30.
Your boss wants to know if there are any overdue bills. What report would
you run to give him this information? correct answersAccounts Payable
Aging report
Which form cannot be customized in QuickBooks? correct answersBill
You are setting up a new product you will frequently need to purchase for
your company. You want QBO to provide fields to track the product. How
do you set up a new product to be tracked by QB? correct answersEnable
the box, "I purchase this product/service from a supplier."
When should you not delete a check? correct answersYou printed a
check and the check number has been used.
You have a customer who will now also be a vendor. How do you handle
this in QB? correct answersUse a "V" at the end of the display name on
the vendor record to differentiate the vendor record from the customer
record.
Which of the following statements are true regarding vendor credits?
(Choose 2) correct answersDECREASE
DECREASE
Which two statements below are correct as it relates to the Close the
Books feature. correct answersWARNING OR PASSWORD REQUIRED FOR
USERS
The owner of the business asks you to set up QB to automatically email
him a specific report on a regular basis (e.g., weekly or monthly). How
would you do this? correct answersRun the report you want to email. Click
Save Customizations. Select Reports
1 Testing
Which of the following statements is true regarding Undeposited Funds in
QuickBooks? correct answersUndeposited Funds is an account used to record
payments before you make a deposit/
What is one reason to not use a deposit or journal entry screen to record
sales? correct answersIf you record sales through the bank deposit or journal
entry screen, the sale will not appear on sales reports.
You're setting up a new customer. How do you tell QuickBooks that this
customer's invoices should be due 30 days after they're issued? correct
answersSet the customer's Terms to Net30.
Your boss wants to know if there are any overdue bills. What report would
you run to give him this information? correct answersAccounts Payable
Aging report
Which form cannot be customized in QuickBooks? correct answersBill
You are setting up a new product you will frequently need to purchase for
your company. You want QBO to provide fields to track the product. How
do you set up a new product to be tracked by QB? correct answersEnable
the box, "I purchase this product/service from a supplier."
When should you not delete a check? correct answersYou printed a
check and the check number has been used.
You have a customer who will now also be a vendor. How do you handle
this in QB? correct answersUse a "V" at the end of the display name on
the vendor record to differentiate the vendor record from the customer
record.
Which of the following statements are true regarding vendor credits?
(Choose 2) correct answersDECREASE
DECREASE
Which two statements below are correct as it relates to the Close the
Books feature. correct answersWARNING OR PASSWORD REQUIRED FOR
USERS
The owner of the business asks you to set up QB to automatically email
him a specific report on a regular basis (e.g., weekly or monthly). How
would you do this? correct answersRun the report you want to email. Click
Save Customizations. Select Reports
