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

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