A.   Enter bills

B.   Pay employees

C.   Record payments received from customers

D.   Record deposits

A.   Fiscal or calendar year

B.   Company address

C.   Industry type

D.   Federal ID Tax number

A.   Undeposited Funds

B.   Accounts Payable

C.   Checking

D.   Accounts Receivable

A.   Bring account balances up to date at year end

B.   Close temporary accounts at year end

C.   All of the choices are correct

D.   Close permanent accounts at year-end

A.   QBW

B.   QBX

C.   QBB

D.   QBM

A.   Cost of Goods Sold

B.   Materials Cost

C.   Inventory Sold

D.   Items Sold

A.   Create Invoice > Receive Inventory > Pay Bill > Record Deposits

B.   Create Purchase Order > Receive Payment > Make Deposits

C.   Create Invoice > Receive Payment > Record Deposits

D.   Create Purchase Order > Receive Inventory > Enter Bill > Pay Bill

A.   All of the choices are correct

B.   Balance Sheet

C.   Profit & Loss

D.   None of the choices are correct

A.   Sales and Customers

B.   Time and Expenses

C.   Bills

D.   Jobs and Estimates

A.   Icon Bar

B.   Home Page

C.   All of the choices are correct

D.   Menus

A.   Create Invoices

B.   Receive Inventory

C.   Create Estimates

D.   Receive Payments

A.   Enter bills

B.   Pay sales tax

C.   Record inventory received

D.   Create invoices

A.   Retained Earnings

B.   Owner's Equity

C.   Fixed Asset

D.   Expense

A.   Permanent accounts

B.   Temporary accounts

C.   None of the choices are correct

D.   Equity accounts

A.   Utilities

B.   Rent

C.   Advertising

D.   Accounts Receivable

A.   lists the accounts and account numbers

B.   Summarizes the results of a company's operations, listing income and expenses

C.   Summarizes what a company owns and what it owes

D.   lists a company's assets

A.   Employee Expense Account

B.   Inventory Account

C.   Accounts Payable Account

D.   Purchase Orders Account

A.   To calculate expenses.

B.   To track information necessary for the accounting system.

C.   To identify owner's equity.

D.   To calculate income.

A.   Vendors

B.   Company

C.   Customers

D.   Banking

A.   Vendors

B.   Customers

C.   Employees

D.   Banking

A.   Pay Bills

B.   Check

C.   Purchase Order

D.   Invoice

A.   All of the choices are correct

B.   Customer List

C.   Item List

D.   Vendor List

A.   Record payments received from customers

B.   Make deposit

C.   Enter bills

D.   Pay employees

A.   Record inventory received

B.   Pay sales tax

C.   Enter bills

D.   Create invoice

A.   Records payments and deposits to the Checking account

B.   Keeps track of company deposits only

C.   Lists all accounts and their account numbers

D.   Is located directly on the Company section of the Home page

A.   None of the choices are correct

B.   Credited

C.   Reconciled

D.   Debited

A.   Deposits in transit

B.   Both deposits in transit and outstanding checks

C.   Interest earned

D.   Outstanding checks

A.   Enter Bills

B.   Receive Payments

C.   Make Deposits

D.   Pay Bills

A.   Records an expense (credit) and the obligation to pay later (debit)

B.   Records an expense (debit) and the obligation to pay later (credit)

C.   Reduces the liability (debit) and the checking account (credit)

D.   Reduces the liability (credit) and the checking account (debit)

A.   Legal Services

B.   Rent Payments

C.   None of the choices are correct

D.   Sales Taxes

A.   To maintain more consistent records, it is best if the owner maintains a separate personal Checking account, but both the owner's personal Checking and business Checking accounts are listed in the Chart of Accounts

B.   To maintain separation between the personal and business accounting records, the owner's personal Checking account should not be used to pay bills for the business and should not be listed in the business' Chart of Accounts

C.   To conserve resources, it is best if the owner uses one Checking account for both personal and business purposes

D.   None of the choices are correct

A.   Invoices

B.   Purchase orders

C.   Accounts

D.   Checks

A.   Deposits recorded by the bank

B.   Checks that have cleared the bank

C.   Errors

D.   Outstanding checks

A.   Accounts Receivable Aging Summary

B.   Customers with Open Invoices

C.   All of the choices are correct

D.   Collections Reports

A.   Make Deposit

B.   Receive Payments

C.   Create Sales Receipts

D.   Create Invoices

A.   Only partial payments received from customers

B.   Funds received from customers but not deposited in the bank

C.   Funds the company owes vendors

D.   Petty Cash funds

A.   Create Sales Receipt > Record Deposits

B.   Make Deposit > Customer & Job Name

C.   Create Invoice > Customer Payment > Customer & Job Name

D.   Receive Payment > Customer & Job Name

A.   Customers Menu

B.   Customers section of the Home Page

C.   Customers Center

D.   Vendor section of the Home Page

A.   Recorded using the Enter Bills window

B.   Recorded using the Create Sales Receipts window

C.   Recorded in a Credit Card Sales window

D.   Recorded using a Create Invoices window

A.   Leasing companies

B.   Suppliers of inventory and supplies

C.   Customers purchasing goods

D.   Tax agencies such as the IRS

A.   Decreases an Expense account and decreases the Checking account

B.   Decreases the Accounts Payable account and decreases the Checking account

C.   Increases an Expense account and increases the Accounts Payable account

D.   Increases the Accounts Payable account and increases the Checking account

A.   After receiving a service

B.   Before receiving a service

C.   At the time of providing a service

D.   When submitting a purchase order

A.   Create invoices

B.   Sell products

C.   Receive payments

D.   Enter bills

A.   Debit Accounts Payable, Credit Expense account

B.   Debit Checking account, Credit Accounts Payable

C.   Debit Accounts Payable, Credit Checking account

D.   Debit Expense account, Credit Accounts Payable

A.   Non-inventory items

B.   All of the choices are correct

C.   Service items

D.   Inventory items