Accounting 120 - Computerized Accounting Systems » Spring 2022 » Ch 1 Quiz

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Question #1
Which of the following tasks is completed from the Banking section of the Home Page?
A.   Pay employees
B.   Record payments received from customers
C.   Record deposits
D.   Enter bills
Question #2
Accounting information is used to do all of the following except:
A.   Prepare reports for management
B.   Prepare financial statements for investors
C.   Prepare meeting minutes for the board of directors
D.   Prepare tax returns for the IRS
Question #3
Most accounting systems consist of which of the following components:
A.   Output
B.   Input
C.   All of the choices are correct
D.   Processing
Question #4
A business transaction is an exchange between the QuickBooks company and:
A.   All of the choices are correct
B.   Employee
C.   Customer
D.   Vendor
Question #5
Reports for managers can help to identify:
A.   Least profitable product
B.   Most profitable product
C.   Overdue customer accounts
D.   All of the choices are correct
Question #6
In QuickBooks, how do you enter transaction information?
A.   Onscreen forms and QuickBooks reports
B.   Onscreen Journal and onscreen forms
C.   Onscreen Journal and QuickBooks reports
D.   None of the choices are correct
Question #7
Which one of the following activities is not associated with the Employee section of the Home Page?
A.   Process Payroll Forms
B.   Write Checks
C.   Enter Time
D.   Pay Payroll Liabilities
Question #8
All of the following are one of the four main categories of transactions in QuickBooks except?
A.   Chart of Accounts
B.   Vendors and expenses
C.   Customers and sales
D.   Banking
Question #9
Which of the following tasks can be completed in the Vendor section of the Home page?
A.   Receive Inventory
B.   Create Invoices
C.   Create Estimates
D.   Receive Payments
Question #10
The Chart of Accounts can be accessed from which section of the Home page?
A.   Vendor
B.   Company
C.   Customer
D.   Banking

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