Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 7 Quiz

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Question #1
If you received inventory without a bill, once the bill has arrived you could do all of the following, except:
A.   Enter the inventory and bill at the same time
B.   Enter the inventory and then enter the bill separately
C.   Enter the bill and wait for the inventory to arrive
D.   Enter the bill against the inventory already recorded
Question #2
The Purchase Orders window is used to record which one of the following transactions?
A.   Cash purchases of supplies
B.   An order to purchase goods from a vendor
C.   Services received but not yet paid
D.   A customer order to purchase goods
Question #3
Which order of tasks is used when purchasing inventory?
A.   Purchase Requisition > Receive Inventory > Pay Bills
B.   Purchase Order > Receive Items > Receive Bill > Pay Bills
C.   Enter Bills > Pay Bills
D.   Enter Invoice > Write Check
Question #4
The Open Purchase Orders Report gives information about:
A.   All Purchase Orders.
B.   Purchase Orders from foreign companies only.
C.   Purchase Orders for items ordered but not yet received.
D.   Purchase Orders from domestic companies only.
Question #5
Which window is used to pay sales taxes?
A.   Write Checks
B.   Enter Bills
C.   Create Invoice
D.   Manage Sales Tax
Question #6
Which one of the following is not a vendor transaction?
A.   Make deposits
B.   Receive bills
C.   Receive inventory
D.   Order inventory
Question #7
Which of the following activities and QuickBooks window used to record it is incorrect?
A.   Record inventory information; Inventory List
B.   Sell goods and bill customers; Invoice
C.   Order goods; Purchase Order
D.   Record vendor information; Vendors List
Question #8
Which one of the following is usually classified as an inventory item?
A.   Items purchased and the quantity on hand does not need to be tracked
B.   Goods purchased for resale to customers
C.   Items purchased and used by the company such as office supplies
D.   Items purchased for a specific customer job
Question #9
The Inventory Stock Status by Item report is used when:
A.   Inventory items are physically placed in the warehouse
B.   The computers go down
C.   Vendors offer a purchase discount on inventory items
D.   A list is needed of the quantity of inventory on hand and on order
Question #10
What QuickBooks activity comes next in this series of business activities: Purchase Order > Receive Items > Enter Bills > ________
A.   Deposit
B.   Receive Payments
C.   Vendors List
D.   Pay Bills

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