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 1040
B.
Form 1040S
C.
Form 1120
D.
Form 1120S
Question #2
Which tax form would you select for a Corporation?
A.
Form 1065
B.
Form 1040S
C.
Form 1120S
D.
Form 1120
Question #3
To create a new company data file in QuickBooks, use the:
A.
File Menu > New Company
B.
Company Menu > New Company
C.
File Menu > Open or Copy Company
D.
Company section of the Home Page > New Company
Question #4
When setting up a new company, QuickBooks automatically creates:
A.
Chart of Accounts
B.
None of the choices are correct
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 Company Menu > New Account
C.
From the Company Center > Edit Chart of Accounts
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.
All of the choices are correct
C.
Enter Bills
D.
Purchase Orders
Question #7
To display account numbers in the Chart of Accounts, select:
A.
Edit > Preferences
B.
Edit > Options
C.
Company > Preferences
D.
Company > Accounts
Question #8
The Vendors List contains information about:
A.
Quantities and prices of items on hand
B.
All of the choices are correct
C.
Addresses, contacts and phone numbers of customers
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.
Vendors from whom the company buys products and services
D.
Customer addresses, contacts and phone numbers
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.
Product-based business
C.
Manufacturing
D.
Retail Shop
Question #12
When you place an order for items from a vendor, which one of the following QuickBooks forms would you use?
A.
Create Invoice
B.
None of the choices are correct
C.
Receive Inventory
D.
Purchase Order
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