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

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