Deck 10: February Source Documents

Question 1

Use the Settings menu to see all the company's lists

Answer 1

True

Question 2

Customers are people who purchase products and services from you.

Answer 2

True

Question 3

QuickBooks Online cannot be accessed using a Mac computer.

Answer 3

False

Question 4

You cannot merge two accounts that are not the same type.

Question 5

In Chapter 10,use the ______________________ to reconcile Account 101 Checking.

A)Activity list.
B)Account and Settings.
C)Vendor purchases.
D)Bank statement.
E)None.

Question 6

The source documents in Chapter 10 include.

A)Credit card sales.
B)Accounts payable transactions.
C)Accounts receivable transactions.
D)Checks.
E)All.

Question 7

March 31 is the end of the:

A)Fourth quarter.
B)Third quarter.
C)Second quarter.
D)First quarter.
E)None.

Question 8

Which report shows unpaid invoices for the current period?

A)Balance Sheet.
B)A/P Summary.
C)A/R Summary.
D)Profit and Loss.
E)None.

Question 9

At the end of March,adjustments for the following accounts are made except for:

A)Rent expense.
B)Insurance expense.
C)Accumulated depreciation.
D)Checking account balance.
E)None.

Question 10

To remove a product from the item list,make it inactive.

Question 11

When you sign in,QBO is up to date.

Question 12

This report summarizes key information such as quantity on hand,value,and average cost for each item.

A)A/R Aging Summary.
B)A/P Aging Summary.
C)Inventory Valuation Summary.
D)Adjusting entry report.
E)All.

Question 13

Sign out is included as a link on the Create menu.

Question 14

Click on the magnifying-glass icon to search by transaction,amount,or date.

Question 15

This report breaks down every transaction during a period of time into debits and credits and displays them chronologically.

A)Customer balance summary.
B)Vendor balance summary.
C)Profit and Loss.
D)Journal.
E)All.

Question 16

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

A)Statement of Cash Flows.
B)Balance Sheet.
C)Summary transaction report for a specific period.
D)Transaction Detail by Account.
E)None.

Question 17

At the end of Chapter 10,reports are exported to Excel.

Question 18

Which report shows unpaid bills for the current period?

A)A/P Summary.
B)Balance Sheet.
C)Profit and Loss.
D)Statement of Cash Flows.
E)None.

Question 19

What report do you run to display overdue bills?

A)Accounts Payable Aging report.
B)Accounts Receivable Aging report.
C)Open Bills.
D)Audit Log.
E)None

Question 20

The Create menu includes the Chart of Accounts.