Accounting 120 - Computerized Accounting Systems » Spring 2022 » Ch 7 Quiz

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Question #1
If you received inventory without a bill, once the bill has arrived you could do all of the following, except:
A.   Enter the inventory and bill at the same time
B.   Enter the inventory and then enter the bill separately
C.   Enter the bill against the inventory already recorded
D.   Enter the bill and wait for the inventory to arrive
Question #2
The Purchase Orders window is used to record which one of the following transactions?
A.   Services received but not yet paid
B.   An order to purchase goods from a vendor
C.   Cash purchases of supplies
D.   A customer order to purchase goods
Question #3
Which order of tasks is used when purchasing inventory?
A.   Purchase Requisition > Receive Inventory > Pay Bills
B.   Purchase Order > Receive Items > Receive Bill > Pay Bills
C.   Enter Bills > Pay Bills
D.   Enter Invoice > Write Check
Question #4
The Open Purchase Orders Report gives information about:
A.   All Purchase Orders.
B.   Purchase Orders for items ordered but not yet received.
C.   Purchase Orders from domestic companies only.
D.   Purchase Orders from foreign companies only.
Question #5
Which window is used to pay sales taxes?
A.   Write Checks
B.   Manage Sales Tax
C.   Enter Bills
D.   Create Invoice
Question #6
Which one of the following is not a vendor transaction?
A.   Receive inventory
B.   Make deposits
C.   Order inventory
D.   Receive bills
Question #7
Which of the following activities and QuickBooks window used to record it is incorrect?
A.   Order goods; Purchase Order
B.   Record vendor information; Vendors List
C.   Record inventory information; Inventory List
D.   Sell goods and bill customers; Invoice
Question #8
Which one of the following is usually classified as an inventory item?
A.   Items purchased and the quantity on hand does not need to be tracked
B.   Goods purchased for resale to customers
C.   Items purchased for a specific customer job
D.   Items purchased and used by the company such as office supplies
Question #9
The Inventory Stock Status by Item report is used when:
A.   The computers go down
B.   A list is needed of the quantity of inventory on hand and on order
C.   Inventory items are physically placed in the warehouse
D.   Vendors offer a purchase discount on inventory items
Question #10
What QuickBooks activity comes next in this series of business activities: Purchase Order > Receive Items > Enter Bills > ________
A.   Pay Bills
B.   Deposit
C.   Vendors List
D.   Receive Payments

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