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 inventory and bill at the same time
C.   Enter the bill and wait for the inventory to arrive
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.   A customer order to purchase goods
B.   An order to purchase goods from a vendor
C.   Services received but not yet paid
D.   Cash purchases of supplies
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.   Enter Invoice > Write Check
D.   Purchase Requisition > Receive Inventory > Pay Bills
Question #4
The Open Purchase Orders Report gives information about:
A.   Purchase Orders from domestic companies only.
B.   All Purchase Orders.
C.   Purchase Orders for items ordered but not yet received.
D.   Purchase Orders from foreign 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 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.   Record vendor information; Vendors List
B.   Record inventory information; Inventory List
C.   Sell goods and bill customers; Invoice
D.   Order goods; Purchase Order
Question #8
Which one of the following is usually classified as an inventory item?
A.   Items purchased for a specific customer job
B.   Items purchased and used by the company such as office supplies
C.   Items purchased and the quantity on hand does not need to be tracked
D.   Goods purchased for resale to customers
Question #9
The Inventory Stock Status by Item report is used when:
A.   Inventory items are physically placed in the warehouse
B.   A list is needed of the quantity of inventory on hand and on order
C.   Vendors offer a purchase discount on inventory items
D.   The computers go down
Question #10
What QuickBooks activity comes next in this series of business activities: Purchase Order > Receive Items > Enter Bills > ________
A.   Receive Payments
B.   Deposit
C.   Pay Bills
D.   Vendors List

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