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

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