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.   Plus
C.   Gear.
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.   At the end of the quarter
C.   At the end of the quarter and every time you sign in and sign off
D.   Never
E.   Automatically
Question #3
The QBO home page is the central place for getting an overview of the company and key activities.
A.   FALSE
B.   TRUE
Question #4
The cloud stores data on web servers instead of your computer
A.   FALSE
B.   TRUE
Question #5
To access customers, vendors, transactions, and reports, use the Settings Menu
A.   TRUE
B.   FALSE
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 Receivable and Accounts Payable
B.   Accounts Payable
C.   Debits and Credits
D.   Bank reconciliation
E.   Accounts Receivable
Question #8
On the Customers page, you can:
A.   Search and sort customers. and, Create transactions or track transactions.
B.   To a customer record, add notes.
C.   View and update the customer list. Add notes to a customer record. Search and sort customers. Create transactions or track transactions.
D.   View and update the customer list.
E.   Create transactions or track transactions.
Question #9
If all customer payments have been received, the A/R Aging Summary has a zero balance.
A.   FALSE
B.   TRUE
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.   None
B.   + > Sales Receipt
C.   + > Invoice.
D.   + > Receive Payment.
E.   Gear > Manage Users
Question #12
Because QBO is in the cloud, you do not need to back up.
A.   FALSE
B.   TRUE
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.   FALSE
B.   TRUE
Question #15
Entering and paying bills is part of the Accounts Payable workflow.
A.   FALSE
B.   TRUE

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