Accounting 120 - Computerized Accounting Systems » Spring 2022 » Ch 15 Quiz

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Question #1
To create a budget:
A.   From the Company Center, select Company & Financials > Budgets
B.   From the Banking Menu, select Planning & Budgets > Budgets
C.   From the Company Menu, select Planning & Budgeting > Set Up Budgets
D.   From the Edit Menu, select Preferences > Set Up Budgets
Question #2
To print a budget:
A.   From the Company Center, select Company & Financials > Budgets
B.   From the Reports Center, select Budgets & Forecasts > Budget Overview
C.   From the Reports Center, select Accountant & Taxes > Budgets
D.   From the Reports Center, select Company & Financials > Budgets
Question #3
When creating a budget in QuickBooks, you can:
A.   Create a budget from previous year's actual data
B.   All of the choices are correct
C.   Create a budget from scratch
D.   Create a budget that increases each monthly amount by a specific percentage
Question #4
Which QuickBooks feature would you use to prepare a bid for a potential customer?
A.   Enter Bills
B.   Progress Billing
C.   Invoice
D.   Estimates
Question #5
Customer payments received on progress invoices are:
A.   Recorded using the Progress Invoices icon in the Customers section of the Home Page
B.   Recorded using the Statement icon in the Customers section of the Home Page
C.   Recorded in the same manner as customer payments for standard invoices
D.   Recorded using the Check Register
Question #6
The audit trail lists:
A.   All changes to transactions
B.   All of the choices are correct
C.   User ID of person entering transactions
D.   All deleted transactions
Question #7
To create an audit trail report:
A.   Select Reports Menu > Company & Financials > Audit Trail
B.   Select the Audit Trail report from the Company section of the Home Page
C.   Select Reports Center > Accountant & Taxes > Audit Trail
D.   Select the Audit Trail icon in the Company Center
Question #8
The audit trail can improve which of the following?
A.   Bad debt expense
B.   Progress invoicing
C.   Creating estimates
D.   Internal control

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