Question 1

In a computerized accounting program, you must record Brought Forward Balances to close the books.

Accepted Answer

In a computerized accounting program, brought forward balances are typically automatically carried forward from the previous accounting period, and there is no need to record them again to close the books. The program should handle this automatically as long as all transactions have been properly entered and reconciled.

Question 2

When using QuickBooks Online your data is saved in the Cloud.

Accepted Answer

QuickBooks Online uses cloud technology to store and access data from anywhere with an internet connection.

Question 3

You must Turn on Payroll in order to access the Payroll Tax Center.

Accepted Answer

The Payroll Tax Center is a feature within QuickBooks payroll services, so you must have Payroll turned on in order to access it.

Question 4

You may find the list of Keyboard Shortcuts by clicking the icon and entering Keyboard Shortcuts.&#10;A) Gear&#10;B) Menu&#10;C) Help&#10;D) Shortcuts

Accepted Answer

The correct choice is C) Help. In many applications and operating systems, keyboard shortcuts and other help-related topics can be found by navigating to the Help section or menu.

Question 5

The Top-Navigation Bar, Left-Navigation Bar, Gear Icon, and Help are shown on the .&#10;A) Dashboard&#10;B) Money Bar&#10;C) Activities Page&#10;D) Home Page

Accepted Answer

The home page is usually the main page of a website or application and often includes a navigation bar, menu, or other helpful tools such as a gear icon or help button. The top-navigation bar, left-navigation bar, gear icon, and help button are commonly found on the home page of websites and applications, making D the best answer choice. The money bar and activities page may also have some of these features, but they are not as commonly found on those specific pages.

Question 6

QuickBooks Online Plus uses the method of inventory valuation.&#10;A) FIFO&#10;B) Average Cost&#10;C) Declining Balance&#10;D) Accelerated Use

Accepted Answer

QuickBooks Online Plus uses the FIFO (First In, First Out) method for inventory valuation, which means that the cost of the oldest inventory items are the ones used up first.

Question 7

The Chart of Accounts is accessed via the tab on the Left-Navigation Bar.&#10;A) Reports&#10;B) Transactions&#10;C) Gear&#10;D) Accounts

Accepted Answer

The answer of The Chart of Accounts is accessed via...

Question 8

You click the Recent Transactions icon to search for a specific invoice.

Accepted Answer

To search for a specific invoice, you typically use the search or find function within the accounting or invoicing software, not the Recent Transactions icon, which generally displays a list of the most recent transactions.

Question 9

The Gear icon may be used to access Lists in QuickBooks Online.

Accepted Answer

The Gear icon is used to access a variety of features in QuickBooks Online, including Lists.

Question 10

In order to customize information shown in the Vendors List, you click the icon.&#10;A) Show&#10;B) Settings&#10;C) New Vendor&#10;D) Edit

Accepted Answer

The "Settings" icon allows you to customize the information displayed in the Vendors List.

Deck 1: Introduction to Quickbooks Online Plus