QuickBooks Chapter 07 Questions and
Answers Rated A+
1. A period that the company uses for accounting purposes and preparing financial statements.
a. First quarter.
b. Fourth quarter.
c. Fiscal year.
d. End of year.
e. None. ✔✔Fiscal year.
2. A software design that emphasizes separating the functions of a program into independent,
interchangeable components is called:
a. A user interface.
b. The operating system.
c. Web-delivered software.
d. Modules.
e. All ✔✔Modules.
3. The accounts shown on the balance sheet are called:
, a. Permanent accounts.
b. Temporary accounts.
c. Transaction entries.
d. Customized accounts.
e. All. ✔✔Permanent accounts.
4. Accounts that are closed as the end of the year are called:
a. Permanent accounts.
b. Temporary accounts.
c. Balance sheet accounts.
d. Trial balance accounts.
e. All. ✔✔Temporary accounts.
5. How do you access Account and Settings?
a. Plus sign for Settings menu.
b. Magnifying-glass for search.
c. Question mark for printing.
d. Gear icon.
Answers Rated A+
1. A period that the company uses for accounting purposes and preparing financial statements.
a. First quarter.
b. Fourth quarter.
c. Fiscal year.
d. End of year.
e. None. ✔✔Fiscal year.
2. A software design that emphasizes separating the functions of a program into independent,
interchangeable components is called:
a. A user interface.
b. The operating system.
c. Web-delivered software.
d. Modules.
e. All ✔✔Modules.
3. The accounts shown on the balance sheet are called:
, a. Permanent accounts.
b. Temporary accounts.
c. Transaction entries.
d. Customized accounts.
e. All. ✔✔Permanent accounts.
4. Accounts that are closed as the end of the year are called:
a. Permanent accounts.
b. Temporary accounts.
c. Balance sheet accounts.
d. Trial balance accounts.
e. All. ✔✔Temporary accounts.
5. How do you access Account and Settings?
a. Plus sign for Settings menu.
b. Magnifying-glass for search.
c. Question mark for printing.
d. Gear icon.
