Deck 4: Payables and Purchases: Service Items

Question 1

Once printed, a check cannot be edited.

Answer 1

False

Question 2

Petty Cash is funded by .

A)Writing a check in QuickBooks and cashing it at the bank
B)Making a withdrawal from checking at the bank and recording a Transfer of Funds
C)Entering a balance when creating the Petty Cash account
D)Either A or B

Answer 2

D

Question 3

An Expense transaction that is not recorded with a bill or by writing a check, is recorded using Petty Cash or a credit card.

Answer 3

True

Question 4

The Bill Payment List shows all the checks written to pay bills.

Question 5

The Vendor Balance Summary report shows unpaid balances for vendors.

Question 6

All checks are written using Pay Bills.

Question 7

When you write a check to pay for a Bill that has not been recorded as a Bill, you .

A)Write a Check in QuickBooks Online
B)Use Pay Bills
C)Use a credit card
D)Any of the above

Question 8

A bill is removed from transaction records.

A)Deleted
B)Voided
C)Cancelled
D)Paid

Question 9

is prepared to record a reduction to an unpaid transaction between your company and a vendor.

A)Refund Check
B)Bill
C)Vendor Credit
D)Expense Transaction

Question 10

After clicking the Plus icon, the Vendors column is used to select .

A)Bill
B)Pay Bills
C)Vendor Credit
D)Any of the above