Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 1 Quiz

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Question #1
Which of the following tasks is completed from the Banking section of the Home Page?
A.   Record deposits
B.   Record payments received from customers
C.   Enter bills
D.   Pay employees
Question #2
Accounting information is used to do all of the following except:
A.   Prepare financial statements for investors
B.   Prepare tax returns for the IRS
C.   Prepare reports for management
D.   Prepare meeting minutes for the board of directors
Question #3
Most accounting systems consist of which of the following components:
A.   Processing
B.   Input
C.   All of the choices are correct
D.   Output
Question #4
A business transaction is an exchange between the QuickBooks company and:
A.   Customer
B.   Vendor
C.   All of the choices are correct
D.   Employee
Question #5
Reports for managers can help to identify:
A.   All of the choices are correct
B.   Overdue customer accounts
C.   Least profitable product
D.   Most profitable product
Question #6
In QuickBooks, how do you enter transaction information?
A.   Onscreen Journal and QuickBooks reports
B.   None of the choices are correct
C.   Onscreen forms and QuickBooks reports
D.   Onscreen Journal and onscreen forms
Question #7
Which one of the following activities is not associated with the Employee section of the Home Page?
A.   Write Checks
B.   Process Payroll Forms
C.   Pay Payroll Liabilities
D.   Enter Time
Question #8
All of the following are one of the four main categories of transactions in QuickBooks except?
A.   Chart of Accounts
B.   Vendors and expenses
C.   Banking
D.   Customers and sales
Question #9
Which of the following tasks can be completed in the Vendor section of the Home page?
A.   Receive Payments
B.   Create Invoices
C.   Create Estimates
D.   Receive Inventory
Question #10
The Chart of Accounts can be accessed from which section of the Home page?
A.   Banking
B.   Vendor
C.   Customer
D.   Company

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