Deck 1: Quickbooks Online Test-Drive

Question 1

When you sign out of the test drive, your data is:

A)Saved.
B)Not saved.
C)Exports to Excel.
D)Saved as PDF file.
E)All of these.

Answer 1

B

Question 2

Another name for the Profit and Loss report is the Income Statement.

Answer 2

True

Question 3

The Dashboard is the central place for getting an overview of the company.

Answer 3

True

Question 4

Accounts are used to classify transaction information for:

A)Additional detail.
B)Trial Balance.
C)Reporting purposes.
D)Cost of Sales.
E)All of these.

Question 5

This report lists transactions subtotaled by each account on the chart of accounts.

A)A/P Aging Summary.
B)Balance Sheet.
C)Profit and Loss.
D)Transaction Detail by Account.
E)All of these.

Question 6

The balance sheet lists what you own (assets), what your debts are (liabilities), and what you've invested (equity).

Question 7

The Test Drive company is also known as:

A)Craig's Design and Landscaping Services.
B)The sample company.
C)Populated company data used in Chapter 1.
D)A way to practice using the QuickBooks Online (QBO) user interface.
E)All of these.

Question 8

To create transactions, use this icon:

A)Apps.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)All of these.

Question 9

Liability accounts usually start with the number 3000.

Question 10

QuickBooks Online updates:

A)Automatically.
B)Never.
C)Every time you sign in and sign off.
D)At the end of the quarter.
E)All of these.

Question 11

A Chart of Accounts is a list of the business snapshot accounts.

Question 12

Craig's Design and Landscaping Services includes populated data such as accounts, balances, customers, etc.

Question 13

Subcategories for account classification are shown within the Type column on the Chart of Accounts.

Question 14

To see recent transactions, use this icon:

A)Question mark.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)None of these.

Question 15

To access customers, vendors, chart of accounts, and reports, use the Settings Menu.

Question 16

A complete list of a business's accounts and their balances is called:

A)Balance Sheet.
B)Income and expense accounts.
C)Trial Balance.
D)Chart of Accounts.
E)None of these.

Question 17

The link between the user and the software is called the:

A)Chart of Accounts.
B)General Ledger.
C)Navigation bar.
D)User interface.
E)All of these.

Question 18

To go to the Settings menu, use this icon:

A)Question mark.
B)Gear.
C)Plus.
D)Magnifying-glass.
E)All of these.

Question 19

Each time you start the test-drive, a new session begins.

Question 20

To sign into the test-drive, use a web browser.