Accounting 121 - Advanced Computerized Accounting » Summer 2021 » Final Quickbooks Online

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Question #1
To create transactions, use this icon:
A.   Clock.
B.   Gear.
C.   Plus
D.   Clock, Plus, Gear, and Magnifying-glass
E.   Magnifying-glass
Question #2
QuickBooks Online updates:
A.   Every time you sign in and sign off
B.   Never
C.   At the end of the quarter and every time you sign in and sign off
D.   At the end of the quarter
E.   Automatically
Question #3
The QBO home page is the central place for getting an overview of the company and key activities.
A.   TRUE
B.   FALSE
Question #4
The cloud stores data on web servers instead of your computer
A.   TRUE
B.   FALSE
Question #5
To access customers, vendors, transactions, and reports, use the Settings Menu
A.   FALSE
B.   TRUE
Question #6
You can look at the Journal to see all the transactions that were entered
A.   TRUE
B.   FALSE
Question #7
The process of bringing the balance of the bank statement and balance of the checking account into agreement is called:
A.   Accounts Payable
B.   Accounts Receivable
C.   Bank reconciliation
D.   Accounts Receivable and Accounts Payable
E.   Debits and Credits
Question #8
On the Customers page, you can:
A.   To a customer record, add notes.
B.   Search and sort customers. and, Create transactions or track transactions.
C.   View and update the customer list. Add notes to a customer record. Search and sort customers. Create transactions or track transactions.
D.   Create transactions or track transactions.
E.   View and update the customer list.
Question #9
If all customer payments have been received, the A/R Aging Summary has a zero balance.
A.   TRUE
B.   FALSE
Question #10
In Chapter 7, adjusting entries are dated December 31.
A.   TRUE
B.   FALSE
Question #11
When recording customer payments, use these steps:
A.   Gear > Manage Users
B.   None
C.   + > Receive Payment.
D.   + > Invoice.
E.   + > Sales Receipt
Question #12
Because QBO is in the cloud, you do not need to back up.
A.   TRUE
B.   FALSE
Question #13
QuickBooks Online cannot be accessed using a Mac computer.
A.   FALSE
B.   TRUE
Question #14
Click on the magnifying-glass icon to search by transaction, amount, or date.
A.   TRUE
B.   FALSE
Question #15
Entering and paying bills is part of the Accounts Payable workflow.
A.   FALSE
B.   TRUE

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