Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 5 Quiz

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Question #1
Which report provides information to help in tracking accounts receivable?
A.   All of the choices are correct
B.   Collections Reports
C.   Customers with Open Invoices
D.   Accounts Receivable Aging Summary
Question #2
To increase collections of payments, you can use all the following QuickBooks features, except:
A.   Customers with Open Invoices Report
B.   Accounts Receivable Aging Report
C.   Accounts Payable Aging Report
D.   Collections Report
Question #3
Which one of the following activities is not shown in the Customers section of the Home Page?
A.   Make Deposit
B.   Create Sales Receipts
C.   Create Invoices
D.   Receive Payments
Question #4
The Job Profitability Summary Report is accessed from the:
A.   Vendor Center
B.   Company Center
C.   Employee Center
D.   Reports Center
Question #5
The Undeposited Funds account contains:
A.   Funds the company owes vendors
B.   Funds received from customers but not deposited in the bank
C.   Only partial payments received from customers
D.   Petty Cash funds
Question #6
When recording a customer payment from a credit sale, select:
A.   Create Sales Receipt > Record Deposits
B.   Make Deposit > Customer & Job Name
C.   Receive Payment > Customer & Job Name
D.   Create Invoice > Customer Payment > Customer & Job Name
Question #7
The journal entry behind the screen that QuickBooks creates when a customer's payment is received and recorded using the Receive Payment window includes:
A.   Debit Undeposited Funds account; Credit Accounts Receivable
B.   Debit Accounts Receivable; Credit Undeposited Funds account
C.   Debit Checking account; Credit Accounts Receivable
D.   Debit Accounts Receivable; Credit Checking account
Question #8
The Customers List in QuickBooks can be accessed from all of the following except:
A.   Customers Center
B.   Vendor section of the Home Page
C.   Customers section of the Home Page
D.   Customers Menu
Question #9
Credit sales to customers are:
A.   Recorded using a Create Invoices window
B.   Recorded in a Credit Card Sales window
C.   Recorded using the Create Sales Receipts window
D.   Recorded using the Enter Bills window
Question #10
When a credit sale is recorded on an invoice, QuickBooks records:
A.   An increase to Sales and a decrease to Accounts Receivable
B.   An increase to Sales and an increase to Accounts Payable
C.   An increase to Sales and an increase to Accounts Receivable
D.   A decrease to Sales and a decrease to Accounts Payable

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