QuickBooks Chapter 3 (2022/2023) Rated A+

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QuickBooks Chapter 3 (2022/2023) Rated A+ Credit Memos are prepared to record a reduction to a transaction. ✔✔True When using QuickBooks, checks may not be written in a checkbook. ✔✔False ... QuickZoom is a QuickBooks feature that allows detailed information to be displayed. ✔✔True A cash purchase can be recorded by writing a check or by using petty cash. ✔✔True Once a report format has been customized as a QuickBooks preference for a company, QuickBooks will automatically use the customized format. ✔✔True In a service business, most of the accounting for purchases and payables is simply paying bills for expenses incurred in the operation of the business. ✔✔True Report columns may not be resized and report formats may not be customized. ✔✔False A Missing Check Report lists any duplicate check numbers or gaps between check numbers. ✔✔True The Accounts Payable Register keeps track of all checks written in the business. ✔✔False If a check has been edited, it cannot be printed. ✔✔False When using QuickBooks' graphs, information regarding the percentage of accounts payable owed to each vendor is displayed as a . A. pie chart B. bar chart C. line chart D. both A and B ✔✔A. pie chart A check may be edited in . A. the Write Checks window B. the Check Register C. both A and B D. neither A nor B ✔✔C. both A and B When you enter a bill, typing the first letter(s) of a vendor's name on the Vendor line . A. enters the vendor's name on the line if the name is in the Vendor List B. displays a list of vendor names C. displays the Address Info tab for the vendor D. both A and B ✔✔D. both A and B To erase an incorrect amount in a bill, you may , then key the correction. A. drag through the amount to highlight B. position the cursor in front of the amount and press the delete key until the amount has been erased C. position the cursor after the amount and press the backspace key until the amount has been erased D. all of the above ✔✔D. all of the above When a document prints 11 wide by 8 ½ long, it is in orientation. A. portrait B. landscape C. standard D. horizontal ✔✔B. landscape A correction to a bill that has been recorded can be made on the bill or . A. not at all B. on the Accounts Payable Graph C. in the Accounts Payable Register D. none of the above ✔✔C. in the Accounts Payable Register When a bill is deleted, . A. the amount is changed to 0.00 B. .the word deleted appears as the Memo C. it is removed without a trace D. a bill cannot be deleted ✔✔C. it is removed without a trace To increase the date on a bill by one day, . A. press the + key B. press the - key C. tab D. press the # key ✔✔A. press the + key If a bill is recorded in the Enter Bills window, it is important to pay the bill by . A. writing a check B. using the Pay Bills window C. using petty cash D. allowing QuickBooks to generate the check automatically five days before the due date ✔✔B. using the Pay Bills window When entering several bills at once on the Enter Bills screen, it is most efficient to to go to the next blank screen. A. click Previous B. click Save & New C. click OK D. click Preview ✔✔B. click Save & New The _____ section of a check is used to record the check date, payee, and amount for the actual check. The _____ area of a check is used to record the accounts used for the bill, the amount for each account used, and transaction explanations. ✔✔check face, detail An Accounts Payable Graph by Aging Period shows a _____ chart detailing the amounts due by aging period and a _____ chart showing the percentage of the total amount payable owed to each vendor. ✔✔bar, pie Three different check styles may be used in QuickBooks: _____, _____, or _____. ✔✔Standard, voucher, wallet The keyboard shortcut to edit or modify an account in the Chart of Accounts is _____. ✔✔Ctrl+E Petty Cash is identified as a ______ account type so it will be placed at the top of the Chart of Accounts along with checking and savings accounts. ✔✔bank [Show More]

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