QuickBooks Test 1 Testing GMETRIX
When setting up a company file, what should you do when you reach the
Trial Balance/Opening Balance page? correct answersThere is no page or
option called Trial Balance/Opening Balances
Why would you restore a data file from the backup file? correct answersAll
of these are reasons to restore from the backup file
- You wish to review the company data as it stood at an earlier date
- The company data file on your hard drive is damaged and cannot be used
-Your computer crashed. You reloaded QuickBooks, and now you are
ready to open the company file
Why would you enter a journal entry? correct answersAll of these answers
are correct
- For year-end adjustments
- To correct errors (if you have a strong accounting background)
- To enter depreciation
What is the maximum number of names that can be included on the
Names lists in QuickBooks Pro or Premier? correct answers14500
Which of the following is true concerning items? correct answersAll of
these answers are correct
- You can use one item to represent different services or goods
-Items allow you to track your sales in more detail without cluttering
your Chart of Accounts or Profit & Loss
- To create an invoice, you must use an item
What transaction should you enter if a customer returns a damaged
product, or in the case of a service, complains so much you decide to offer
a refund? correct answersCredit Memo
What transaction/form do you begin with to enter a vendor credit? correct
answersEnter Bill
Which form should you use to enter petty cash expenditures? correct
answersWrite Checks or use check register
What is a reason to use the items tab when entering a bill? correct
answersTo assign a cost to a job or purchase inventory
When setting up a company file, what should you do when you reach the
Trial Balance/Opening Balance page? correct answersThere is no page or
option called Trial Balance/Opening Balances
Why would you restore a data file from the backup file? correct answersAll
of these are reasons to restore from the backup file
- You wish to review the company data as it stood at an earlier date
- The company data file on your hard drive is damaged and cannot be used
-Your computer crashed. You reloaded QuickBooks, and now you are
ready to open the company file
Why would you enter a journal entry? correct answersAll of these answers
are correct
- For year-end adjustments
- To correct errors (if you have a strong accounting background)
- To enter depreciation
What is the maximum number of names that can be included on the
Names lists in QuickBooks Pro or Premier? correct answers14500
Which of the following is true concerning items? correct answersAll of
these answers are correct
- You can use one item to represent different services or goods
-Items allow you to track your sales in more detail without cluttering
your Chart of Accounts or Profit & Loss
- To create an invoice, you must use an item
What transaction should you enter if a customer returns a damaged
product, or in the case of a service, complains so much you decide to offer
a refund? correct answersCredit Memo
What transaction/form do you begin with to enter a vendor credit? correct
answersEnter Bill
Which form should you use to enter petty cash expenditures? correct
answersWrite Checks or use check register
What is a reason to use the items tab when entering a bill? correct
answersTo assign a cost to a job or purchase inventory
