Accounting Certification Practice Test
#4 Exam and Already Passed Answers
2025.
When should you not delete a check? - Answer You 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 QuickBooks? -
Answer Use 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) - Answer 1. If
an inventory item is entered in the product/service field of the item details section of the
vendor credit, the inventory quantity on hand balance would decrease.
2. Vendor credit memos decrease what you owe to the vendor.
For each statement below identify if the statement is True or False. - Answer True: You can
enter a Check if the Vendor field is empty. You can enter an Expense if the payee field is empty.
False: You can enter a Bill if the Vendor field is empty.
Evaluate the following statements related to bills and paying bills and identify if the statement is
True or False. - Answer True: You can pay bills using a check as the payment method.
False: Entering a bill decreases accounts payable.
You have to pay a bill before you enter a bill.
Evaluate each of the following statements as they relate to billable expenses and determine if
each statement is True or False. - Answer True: For an expense to appear on an invoice sidebar
the expense must be marked billable.
False: Billable expenses can be added to invoices and/or sales receipts.
Checks, Bills, Bill Payments, and Expenses are all able to be marked as Billable.
The vendor that is used to provide all you office supplies has changed your payment terms. Put
the steps in order for how to change the payment terms for the vendor in QuickBooks Online.
Assume the term is already in the Terms list. - Answer 1. Select Expenses from the left-hand
, 5. Change the term to the new term
6. Select Save and Close
How would you enter a transaction that won't be downloaded from an online bank account in
which you paid for a service using a debit card? - Answer Click on the <+ New> icon and select
Expense. Fill out the expense and use Debit Card as the payment method.
In which situations is expense tracking useful? Choose two answers. - Answer 1. To see
whether a project is making a profit.
2. To compare different projects and their profitability.
When viewing all sales transactions, users can determine which two items? - Answer 1. Which
payments need to be received.
2. Which invoices need to be sent.
Why would a vendor issue a vendor credit? Choose three answers. - Answer 1. To refund a
purchase.
2. To lower the balance of a bill.
3. To be used toward a future purchase.
Which types of checks are available for user through the QuickBooks Online Print checks setup
page? - Answer 1. Voucher
2. Standard
Refer to the image. Which project is the least profitable? - Answer Fish World Tampa
When merging two vendor accounts, what alerts QuickBooks to merge the accounts? - Answer
Changing the display names to match.
Mary has a new customer that would like custom payment terms of 45 days. What payment
terms should Mary choose when setting up the new vendor information? - Answer Add new.
What is a money-out transaction? - Answer A transaction for which a user is paying.
#4 Exam and Already Passed Answers
2025.
When should you not delete a check? - Answer You 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 QuickBooks? -
Answer Use 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) - Answer 1. If
an inventory item is entered in the product/service field of the item details section of the
vendor credit, the inventory quantity on hand balance would decrease.
2. Vendor credit memos decrease what you owe to the vendor.
For each statement below identify if the statement is True or False. - Answer True: You can
enter a Check if the Vendor field is empty. You can enter an Expense if the payee field is empty.
False: You can enter a Bill if the Vendor field is empty.
Evaluate the following statements related to bills and paying bills and identify if the statement is
True or False. - Answer True: You can pay bills using a check as the payment method.
False: Entering a bill decreases accounts payable.
You have to pay a bill before you enter a bill.
Evaluate each of the following statements as they relate to billable expenses and determine if
each statement is True or False. - Answer True: For an expense to appear on an invoice sidebar
the expense must be marked billable.
False: Billable expenses can be added to invoices and/or sales receipts.
Checks, Bills, Bill Payments, and Expenses are all able to be marked as Billable.
The vendor that is used to provide all you office supplies has changed your payment terms. Put
the steps in order for how to change the payment terms for the vendor in QuickBooks Online.
Assume the term is already in the Terms list. - Answer 1. Select Expenses from the left-hand
, 5. Change the term to the new term
6. Select Save and Close
How would you enter a transaction that won't be downloaded from an online bank account in
which you paid for a service using a debit card? - Answer Click on the <+ New> icon and select
Expense. Fill out the expense and use Debit Card as the payment method.
In which situations is expense tracking useful? Choose two answers. - Answer 1. To see
whether a project is making a profit.
2. To compare different projects and their profitability.
When viewing all sales transactions, users can determine which two items? - Answer 1. Which
payments need to be received.
2. Which invoices need to be sent.
Why would a vendor issue a vendor credit? Choose three answers. - Answer 1. To refund a
purchase.
2. To lower the balance of a bill.
3. To be used toward a future purchase.
Which types of checks are available for user through the QuickBooks Online Print checks setup
page? - Answer 1. Voucher
2. Standard
Refer to the image. Which project is the least profitable? - Answer Fish World Tampa
When merging two vendor accounts, what alerts QuickBooks to merge the accounts? - Answer
Changing the display names to match.
Mary has a new customer that would like custom payment terms of 45 days. What payment
terms should Mary choose when setting up the new vendor information? - Answer Add new.
What is a money-out transaction? - Answer A transaction for which a user is paying.
