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

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