Accounting 120 - Computerized Accounting Systems » Spring 2022 » Ch 5 Quiz

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Question #1
Which report provides information to help in tracking accounts receivable?
A.   Customers with Open Invoices
B.   All of the choices are correct
C.   Collections Reports
D.   Accounts Receivable Aging Summary
Question #2
To increase collections of payments, you can use all the following QuickBooks features, except:
A.   Customers with Open Invoices Report
B.   Collections Report
C.   Accounts Receivable Aging Report
D.   Accounts Payable Aging Report
Question #3
Which one of the following activities is not shown in the Customers section of the Home Page?
A.   Create Sales Receipts
B.   Receive Payments
C.   Make Deposit
D.   Create Invoices
Question #4
The Job Profitability Summary Report is accessed from the:
A.   Reports Center
B.   Company Center
C.   Vendor Center
D.   Employee Center
Question #5
The Undeposited Funds account contains:
A.   Only partial payments received from customers
B.   Funds received from customers but not deposited in the bank
C.   Funds the company owes vendors
D.   Petty Cash funds
Question #6
When recording a customer payment from a credit sale, select:
A.   Create Invoice > Customer Payment > Customer & Job Name
B.   Receive Payment > Customer & Job Name
C.   Create Sales Receipt > Record Deposits
D.   Make Deposit > Customer & Job Name
Question #7
The journal entry behind the screen that QuickBooks creates when a customer's payment is received and recorded using the Receive Payment window includes:
A.   Debit Accounts Receivable; Credit Undeposited Funds account
B.   Debit Undeposited Funds account; Credit Accounts Receivable
C.   Debit Checking account; Credit Accounts Receivable
D.   Debit Accounts Receivable; Credit Checking account
Question #8
The Customers List in QuickBooks can be accessed from all of the following except:
A.   Vendor section of the Home Page
B.   Customers Menu
C.   Customers section of the Home Page
D.   Customers Center
Question #9
Credit sales to customers are:
A.   Recorded in a Credit Card Sales window
B.   Recorded using a Create Invoices window
C.   Recorded using the Enter Bills window
D.   Recorded using the Create Sales Receipts window
Question #10
When a credit sale is recorded on an invoice, QuickBooks records:
A.   An increase to Sales and a decrease to Accounts Receivable
B.   An increase to Sales and an increase to Accounts Payable
C.   An increase to Sales and an increase to Accounts Receivable
D.   A decrease to Sales and a decrease to Accounts Payable

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