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 bill against the inventory already recorded
C.   Enter the bill and wait for the inventory to arrive
D.   Enter the inventory and then enter the bill separately
Question #2
The Purchase Orders window is used to record which one of the following transactions?
A.   An order to purchase goods from a vendor
B.   A customer order to purchase goods
C.   Services received but not yet paid
D.   Cash purchases of supplies
Question #3
Which order of tasks is used when purchasing inventory?
A.   Enter Bills > Pay Bills
B.   Enter Invoice > Write Check
C.   Purchase Order > Receive Items > Receive Bill > Pay Bills
D.   Purchase Requisition > Receive Inventory > Pay Bills
Question #4
The Open Purchase Orders Report gives information about:
A.   Purchase Orders for items ordered but not yet received.
B.   All Purchase Orders.
C.   Purchase Orders from foreign companies only.
D.   Purchase Orders from domestic companies only.
Question #5
Which window is used to pay sales taxes?
A.   Manage Sales Tax
B.   Write Checks
C.   Create Invoice
D.   Enter Bills
Question #6
Which one of the following is not a vendor transaction?
A.   Receive inventory
B.   Make deposits
C.   Receive bills
D.   Order inventory
Question #7
Which of the following activities and QuickBooks window used to record it is incorrect?
A.   Order goods; Purchase Order
B.   Sell goods and bill customers; Invoice
C.   Record vendor information; Vendors List
D.   Record inventory information; Inventory List
Question #8
Which one of the following is usually classified as an inventory item?
A.   Goods purchased for resale to customers
B.   Items purchased for a specific customer job
C.   Items purchased and used by the company such as office supplies
D.   Items purchased and the quantity on hand does not need to be tracked
Question #9
The Inventory Stock Status by Item report is used when:
A.   Vendors offer a purchase discount on inventory items
B.   A list is needed of the quantity of inventory on hand and on order
C.   The computers go down
D.   Inventory items are physically placed in the warehouse
Question #10
What QuickBooks activity comes next in this series of business activities: Purchase Order > Receive Items > Enter Bills > ________
A.   Vendors List
B.   Pay Bills
C.   Receive Payments
D.   Deposit

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