QuickBooks Domain 1 Post Assessment questions and answers latest updated

QuickBooks Domain 1 Post Assessment questions and answers latest updated Tommy needs to access the Account and settings menu in his QuickBooks Online account to edit company information. Choose the two ways in which he could access this part of QuickBooks Online. a. Select Account and settings next to the company's name on the company's QuickBooks Online homepage b. Select Settings, then select Account and settings c. Select the company's name at the top of the company's QuickBooks Online homepage d. Scroll to the bottom of the QuickBooks Online homepage and select Account and settings b. Select Settings, then select Account and settings c. Select the company's name at the top of the company's QuickBooks Online homepage Which three featured collections can a user search through to locate apps that they may be interested in using with QuickBooks Online? a. Top rated apps b. Popular apps c. Trending apps d. New apps e. Free apps b. Popular apps c. Trending apps e. Free apps Billy is deciding what type of user the new employee at his company should be categorized as in his QuickBooks Online account. The new employee will need access to some of the reports and features available in QuickBooks but will not need access to sending money through QuickBooks, passwords, or the ability to add other users. What type of user should Billy categorize the new employee as? a. Company Admin b. Time tracking only c. Standard user d. Reports only c. Standard user When creating a new account in a Chart of Accounts list, there are different options for categorizing the account. Match the category to its description. The main account category; determines how the money will be accounted for Account type When creating a new account in a Chart of Accounts list, there are different options for categorizing the account. Match the category to its description. A secondary category that is used to track a company's bottom line Detail type When creating a new account in a Chart of Accounts list, there are different options for categorizing the account. Match the category to its description. Used to break down accounts to see expenses in greater detail Sub-account Tina wants to create a project in QuickBooks Online for her company. Her company recently began a bathroom remodel for a customer named Tim Turner. From the company's QuickBooks Online homepage, arrange the steps Tina should take to create a new project in the correct order. Position 1: Position 2: Position 3: Position 4: Position 5: Position 6: Position 7: Position 1: Select Projects Position 2: Select New project Position 3: Select the Project name field Position 4: Type: Bathroom Remodel Position 5: Select the drop-down arrow under Customer Position 6: Select Time Turner from the Customer list Position 7: Select Save at the bottom of the New project page The items on the Products and Services list are used for which three tasks? a. Tracking inventory b. Creating invoices c. Creating purchase orders d. Creating new projects e. Viewing transaction history a. Tracking inventory b. Creating invoices c. Creating purchase orders What two tasks can a user do within the Chart of Accounts list? a. View register b. Create charts of profit margins c. Run reports d. View income earned from specific products a. View register c. Run reports Which two aspects of an account would result in not being able to migrate it from QuickBooks Desktops to QuickBooks Online? a. An account with multi-currency functions b. An account with more than 100,00 transaction lines c. An account with transactions more than five years old d. An account with more than 350,000 transaction lines a. An account with multi-currency functions d. An account with more than 350,000 transaction lines Lisa works at a restaurant, and orders have been increasing recently, particularly on dishes that contain beef. Going forward, she wants to ensure that the restaurant does not run out beef. Which feature on the Products and Services list should Lisa utilize? a. Expenses b. Purchase orders c. Sales description d. Reorder point d. Reorder point Conan's company provides interior design services. They recently purchased a table that they are using for a current project. What steps should Conan take to categorize this purchase correctly within this project? a. Select Payroll and then select New expense b. Select Sales, then select Invoices c. Select Expenses, select the New transaction drop-down arrow, then select Expense d. Select Cash Flow, select the Accounting drop-down arrow, then select New expense c. Select Expenses, select the New transaction drop-down arrow, then select Expense Choose two features available on the Plus plan that are not available on the Simple Start plan. a. Capture and organize receipts b. Track income and expenses c. Manage and pay bills d. Track time c. Manage and pay bills d. Track time Cora needs to import vendor information into her company's QuickBooks Online account. From the company's QuickBooks Online homepage, arrange the steps she should take in the correct order to get to the Import vendors page. Position 1: Position 2: Position 3: Position 4: Position 1: Select Expenses Position 2: Select Vendors Position 3: Select the drop-down arrow next to New vendor Position 4: Select Import vendors Merges for list entries are triggered by the _____. a. terms b. account number c. company name d. display name d. display name Tara works for a plumbing company. For one of the company's current projects, she needs to ensure that the customer, John Smith, has paid for the work done up to this point so that the company can move on to the next phase of work. From the company's QuickBooks Online homepage, arrange the steps Tara should take int the correct order to locate transactions that have taken place with this customer. Position 1: Position 2: Position 3: Position 4: Position 1: Select Sales Position 2: Select Customers Position 3: Double-click John Smith Position 4: Select Transaction List Adam works for a company that sells both products and services. He has been tasked with finding a QuickBooks plan that would allow five users to access QuickBooks through the company. Which plan should Adam choose? a. Simple Start b. Advanced c. Self-Employed d. Plus d. Plus The payments a company is waiting to receive for the sale of goods or services purchased on credit Accounts receivable Things a business owns that adds value to the company Assets and Fixed-Assets The money a company owes others Accounts payable Things the company owes to others; part of accounts payable Current liabilities Account where money is being put into a company Equity Money a company is earning Income Money the company is making by charging for goods and services they provide; a type of income account Cost of goods sold Bills like rent, insurance, repairs, company dinners, and travel expenses Expense The payroll feature allows users to see which four pieces of information about employees? a. Contact information b. Hire date c. Hourly pay d. Official job title e. Supervisor a. Contact information b. Hire date c. Hourly pay d. Official job title Rose has just finished migrating her company's QuickBooks Desktop account to QuickBooks Online. What two reports should she create and compare in both versions to ensure all data has migrated to QuickBooks Online? a. Sales by Customer Summary b. Purchases by Vendor Detail c. Balance Sheet d. Profit and Loss c. Balance Sheet d. Profit and Loss Jane is trying to add a new user to her company's QuickBooks Plus plan. However, she notices that there are five users on the plan. Choose the two options that would help ensure Jane does not breach the software license agreement. a. Allow two employees to share access to QuickBooks through the same account b. Upgrade the QuickBooks Plus plan to the Advanced plan, which allows for more users c. Set up a shared computer with one QuickBooks account so that all employees can access QuickBooks through one account d. Prioritize which five employees should have access to the QuickBooks account, and continue using the QuickBooks Plus plan with five users b. Upgrade the QuickBooks Plus plan to the Advanced plan, which allows for more users d. Prioritize which five employees should have access to the QuickBooks account, and continue using the QuickBooks Plus plan with five users Which two tasks can a user do within the Chart of Accounts list? a. View register b. View income earned from specific products c. Run reports d. Create charts of profit margins a. View register c. Run reports Billie is about to create a new invoice for a recent sale her company made. She would like to categorize the sale as one of the four product types in which the company categorizes its products. Which field should Billie use to do this? a. Invoice no. b. Product/Service c. Class d. Description c. Class Ashley is importing vendor information into her company's QuickBooks Online account. However, she notices that some of the vendors' phone numbers are not being imported. What is the likely explanation for why the phone numbers are not being imported? a. QuickBooks Online does not support importing internal phone numbers b. QuickBooks Online does not support importing phone numbers c. Ashley used a Google Sheet file rather than an Excel file d. The formatting in the original file does not match the phone number field d. The formatting in the original file does not match the phone number field