Quickbooks Exam study
+ New menucorrect answers Displays a list of categorized transactions
Top-Right navigation Toolscorrect answers Include Help, Search, and
Notifications Gear Iconcorrect answers Company, Lists, Tools, and Profile
menus.
navigation barcorrect answers Gives Access to the various
centers. Assetscorrect answers What the company owns
Expensescorrect answers Company-incurred
expenditures. Equitycorrect answers the investment
made into the company. incomecorrect answers All the
sales and fees earned. liabilitiescorrect answers What
the company owes.
What is the Chart of Accounts?correct answers The list of accounts for each
transaction in the accounting system or general ledger.
Bank (account type)correct answers Checking (detail type)
Income (account type)correct answers Service/fee income (detail type)
Long term liabilities (account type)correct answers Notes payable.
(Detail type) other Current assets (account type)correct answers Prepaid
expenses (Detail type) Expenses (Account type)correct answers Utilities
(detail type)
Fixed Assets (Account type)correct answers Machinery & Equipment
(detail type)
Standard (user type)correct answers This user can be granted limited or full
access but no admin privileges.
Company Admin (User type)correct answers This user has full privileges and
access to all areas of the company file.
Reports (user type)correct answers This user can display company
information on screen or in print. (.xlsx. , .pdf)
, Time Tracking (user type)correct answers This user has permission only to
log hours worked in the software.
To remove a transation and still retain a record of it, use the ----
command.correct answers Void
Customer paid cash at the time of sale (action)correct answers Create
a sales receipt.
Customer shows twice in the customers list (action)correct answers
merge the customers
Customer is associated with multiple jobs (action)correct answers
Set up sub- customers.
Customer will pay at the end of the job.correct answers Create an
invoice. Customer paid for a completed job.correct answers applied to
undeposited funds.
Invoice (form)correct answers Used when a customer does not pay at
the time of service.
Sales receipt (form)correct answers use when a customer pays at the time of
service. Statement (form)correct answers used to gather customer charges
for a specific period.
Edit tool (sales form section/items)correct answers manage settings and
defaults for sales form.
Online delivery (sales form section)correct answers Set delivery terms
and methods.
Statements (sales form section)correct answers Set the level of detail
shown for transactions.
Sales for content (sales form section.)correct answers Sales forms are
emailed.
Products and Services (Sales form section.)correct answers Track
inventory and choose columns to display.
Messages (sales form section)correct answers Customize emails
Identify false statement regarding vendor data.correct answers use the
import data tool to map your vendors with their associated customers.
Expense (form to account it credits)correct answers Credit card or bank
account.
+ New menucorrect answers Displays a list of categorized transactions
Top-Right navigation Toolscorrect answers Include Help, Search, and
Notifications Gear Iconcorrect answers Company, Lists, Tools, and Profile
menus.
navigation barcorrect answers Gives Access to the various
centers. Assetscorrect answers What the company owns
Expensescorrect answers Company-incurred
expenditures. Equitycorrect answers the investment
made into the company. incomecorrect answers All the
sales and fees earned. liabilitiescorrect answers What
the company owes.
What is the Chart of Accounts?correct answers The list of accounts for each
transaction in the accounting system or general ledger.
Bank (account type)correct answers Checking (detail type)
Income (account type)correct answers Service/fee income (detail type)
Long term liabilities (account type)correct answers Notes payable.
(Detail type) other Current assets (account type)correct answers Prepaid
expenses (Detail type) Expenses (Account type)correct answers Utilities
(detail type)
Fixed Assets (Account type)correct answers Machinery & Equipment
(detail type)
Standard (user type)correct answers This user can be granted limited or full
access but no admin privileges.
Company Admin (User type)correct answers This user has full privileges and
access to all areas of the company file.
Reports (user type)correct answers This user can display company
information on screen or in print. (.xlsx. , .pdf)
, Time Tracking (user type)correct answers This user has permission only to
log hours worked in the software.
To remove a transation and still retain a record of it, use the ----
command.correct answers Void
Customer paid cash at the time of sale (action)correct answers Create
a sales receipt.
Customer shows twice in the customers list (action)correct answers
merge the customers
Customer is associated with multiple jobs (action)correct answers
Set up sub- customers.
Customer will pay at the end of the job.correct answers Create an
invoice. Customer paid for a completed job.correct answers applied to
undeposited funds.
Invoice (form)correct answers Used when a customer does not pay at
the time of service.
Sales receipt (form)correct answers use when a customer pays at the time of
service. Statement (form)correct answers used to gather customer charges
for a specific period.
Edit tool (sales form section/items)correct answers manage settings and
defaults for sales form.
Online delivery (sales form section)correct answers Set delivery terms
and methods.
Statements (sales form section)correct answers Set the level of detail
shown for transactions.
Sales for content (sales form section.)correct answers Sales forms are
emailed.
Products and Services (Sales form section.)correct answers Track
inventory and choose columns to display.
Messages (sales form section)correct answers Customize emails
Identify false statement regarding vendor data.correct answers use the
import data tool to map your vendors with their associated customers.
Expense (form to account it credits)correct answers Credit card or bank
account.
