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