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 then enter the bill separately
B.   Enter the bill and wait for the inventory to arrive
C.   Enter the inventory and bill at the same time
D.   Enter the bill against the inventory already recorded
Question #2
The Purchase Orders window is used to record which one of the following transactions?
A.   Services received but not yet paid
B.   A customer order to purchase goods
C.   Cash purchases of supplies
D.   An order to purchase goods from a vendor
Question #3
Which order of tasks is used when purchasing inventory?
A.   Enter Bills > Pay Bills
B.   Purchase Order > Receive Items > Receive Bill > Pay Bills
C.   Purchase Requisition > Receive Inventory > Pay Bills
D.   Enter Invoice > Write Check
Question #4
The Open Purchase Orders Report gives information about:
A.   Purchase Orders from domestic companies only.
B.   Purchase Orders from foreign companies only.
C.   All Purchase Orders.
D.   Purchase Orders for items ordered but not yet received.
Question #5
Which window is used to pay sales taxes?
A.   Write Checks
B.   Manage Sales Tax
C.   Create Invoice
D.   Enter Bills
Question #6
Which one of the following is not a vendor transaction?
A.   Order inventory
B.   Receive bills
C.   Make deposits
D.   Receive inventory
Question #7
Which of the following activities and QuickBooks window used to record it is incorrect?
A.   Record vendor information; Vendors List
B.   Order goods; Purchase Order
C.   Sell goods and bill customers; Invoice
D.   Record inventory information; Inventory List
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.   Items purchased and used by the company such as office supplies
C.   Items purchased for a specific customer job
D.   Goods purchased for resale to customers
Question #9
The Inventory Stock Status by Item report is used when:
A.   The computers go down
B.   Inventory items are physically placed in the warehouse
C.   Vendors offer a purchase discount on inventory items
D.   A list is needed of the quantity of inventory on hand and on order
Question #10
What QuickBooks activity comes next in this series of business activities: Purchase Order > Receive Items > Enter Bills > ________
A.   Deposit
B.   Pay Bills
C.   Receive Payments
D.   Vendors List

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