2026 DETAILED QUESTIONS GRADED A+
⩥ Where can you see a thumbnail sample of each report in
quickbooks along with a description of what the report tells you?
Answer: Report center
⩥ #Which accounts are affected when you enter time in quickbooks?
Answer: Accounts receivable
⩥ Which is not shown on the payroll summary report on quickbooks?
Answer: information necessary to complete your state unemployment
tax form
⩥ #Which of the following can be memorized in quickbooks?
Answer: bill
⩥ Which of the following is a possible reason for a bank
reconciliation discrepancy? Answer: The beginning balance calculated
by quickbooks doesn't match last months ending balance
⩥ Which of the following is a reason to create a new company file?
Answer: When a company file has many errors that are beyond repair
, ⩥ #Which of the following is not true regarding merging entries?
Answer: quickbooks allows you to merge an expense account with an
income account
⩥ Which of the following is true regarding general journal entries?
Answer: general journal entries require a good understanding of
debits and credits and shouldn't be used by non-accountants
⩥ Which of the following statements is not true regarding entering
and paying bills in quickbooks? Answer: if you use the enter bills
window to record a bill, do not use the write checks window or check
register to pay the same bill
⩥ #Which of the following statements is not true regarding single
user and multi-user mode? Answer: Only the administrator is allowed
in the file when it is in single user mode
⩥ #Which of the following statements is true regarding how you
record a debit card transaction in quickbooks? Answer: Use the write
checks window or check register and type debit in the check number
field
⩥ #Which of the following statements is true regarding items?
Answer: When you purchase or sell an item, the value of the purchase
or sales flows to the account and therefore the financial statements
you selected when you set up the item