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.   Cash purchases of supplies
B.   A customer order to purchase goods
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.   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.   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.   Enter Bills
B.   Create Invoice
C.   Write Checks
D.   Manage Sales Tax
Question #6
Which one of the following is not a vendor transaction?
A.   Receive inventory
B.   Order inventory
C.   Make deposits
D.   Receive bills
Question #7
Which of the following activities and QuickBooks window used to record it is incorrect?
A.   Record inventory information; Inventory List
B.   Order goods; Purchase Order
C.   Sell goods and bill customers; Invoice
D.   Record vendor information; Vendors 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.   Goods purchased for resale to customers
C.   Items purchased and used by the company such as office supplies
D.   Items purchased for a specific customer job
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.   Inventory items are physically placed in the warehouse
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.   Receive Payments
B.   Deposit
C.   Vendors List
D.   Pay Bills

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