Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 6 Quiz

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Question #1
Which one of the following reports helps track past due bills and bills that are due shortly?
A.   Vendor Aging Report
B.   Accounts Payable Aging Summary
C.   Customer Aging Summary
D.   Accounts Receivable Aging Summary
Question #2
Which order of tasks is used when purchasing services? 
A.   Enter Invoice > Receive Payment > Make Deposit
B.   Enter Bills > Pay Bills
C.   Create Purchase Order > Receive Bill > Enter Bill > Pay Bills
D.   Enter Invoice > Write Check
Question #3
When a bill is entered into QuickBooks using the Enter Bills window, QuickBooks:
A.   Increases an Expense account and increases the Accounts Payable account
B.   Decreases the Accounts Receivable account and decreases Accounts Payable account
C.   Increases the Accounts Receivable account and increases an the Income account
D.   Decreases an Expense account and increases the Accounts Payable account
Question #4
Form 1099 is used to: 
A.   Report the amount paid to a vendor in compliance with IRS regulations
B.   Report the amount paid to employees in compliance with IRS regulations
C.   Report the amount received from customers in compliance with IRS regulations
D.   None of the choices are correct
Question #5
Which one of the following is a vendor transaction?
A.   Enter bills
B.   Create invoices
C.   Receive payments
D.   Sell products
Question #6
QuickBooks considers all of the following to be vendors except: 
A.   Utility companies
B.   All of the choices are correct
C.   Financial institutions such as banks
D.   Tax agencies such as the IRS
Question #7
The journal entry behind the screen that QuickBooks creates when a bill is recorded using the Enter Bills window includes: 
A.   Debit Accounts Payable, Credit Checking account
B.   Debit Expense account, Credit Accounts Payable
C.   Debit Checking account, Credit Accounts Payable
D.   Debit Accounts Payable, Credit Expense account
Question #8
Which one of the following is not a vendor transaction?
A.   Receive inventory
B.   Receive bills
C.   Create invoice
D.   Order goods
Question #9
The Enter Bills window is used to record which one of the following transactions? 
A.   Services received but not yet paid
B.   Customer invoices created
C.   Owners' investment
D.   Items sold to customers
Question #10
Which QuickBooks window is used to record services received? 
A.   Purchase Order
B.   Enter Bills
C.   Estimates
D.   Create Invoice

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