Accounting 120 - Computerized Accounting Systems » Spring 2022 » Ch 11_14 Quiz
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Question #1
Which tax form would you select for a Subchapter S corporation?
A.
Form 1120S
B.
Form 1040
C.
Form 1120
D.
Form 1040S
Question #2
Which tax form would you select for a Corporation?
A.
Form 1120S
B.
Form 1120
C.
Form 1040S
D.
Form 1065
Question #3
To create a new company data file in QuickBooks, use the:
A.
File Menu > Open or Copy Company
B.
File Menu > New Company
C.
Company Menu > New Company
D.
Company section of the Home Page > New Company
Question #4
When setting up a new company, QuickBooks automatically creates:
A.
Customers List
B.
None of the choices are correct
C.
Chart of Accounts
D.
Vendors List
Question #5
To edit an account in the Chart of Accounts:
A.
From the Company Menu > New Account
B.
From the Company Center > Edit Chart of Accounts
C.
From the Chart of Accounts window > Account > New Account
D.
From the Chart of Accounts window > Account > Edit Account
Question #6
Which icon does not appear in the Vendors section for service companies that do not sell inventory?
A.
Pay Bills
B.
Purchase Orders
C.
All of the choices are correct
D.
Enter Bills
Question #7
To display account numbers in the Chart of Accounts, select:
A.
Company > Preferences
B.
Edit > Preferences
C.
Company > Accounts
D.
Edit > Options
Question #8
The Vendors List contains information about:
A.
All of the choices are correct
B.
Addresses, contacts and phone numbers for suppliers
C.
Quantities and prices of items on hand
D.
Addresses, contacts and phone numbers of customers
Question #9
The Customers List contains information about:
A.
Customer addresses, contacts and phone numbers
B.
The quantity of non-inventory parts on hand
C.
Vendors from whom the company buys products and services
D.
The credit rating of the vendors
Question #10
Which tax form would you select for a Partnership?
A.
Form 1120S
B.
Form 1040S
C.
Form 1065
D.
Form 1120
Question #11
An accounting firm is an example of a ________ company.
A.
Service
B.
Retail Shop
C.
Manufacturing
D.
Product-based business
Question #12
When you place an order for items from a vendor, which one of the following QuickBooks forms would you use?
A.
Receive Inventory
B.
None of the choices are correct
C.
Create Invoice
D.
Purchase Order
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