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

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