Glendale Community College » Accounting » Accounting 120 - Computerized Accounting Systems » Fall 2022

Accounting 120 - Computerized Accounting Systems » Fall 2022 » Midterm

Need help with your exam preparation?

Existing Quiz Clients Login here

Question #1

In the Company section of the Home Page, you can:

A. Pay bills

B. Enter invoices

C. Record credit card receipts

D. View the Chart of Accounts

Question #2

Which of the following tasks cannot be completed in the Vendor section of the Home Page?

A. Receive Inventory

B. Create Purchase Order

C. Receive Bill

D. Create Invoice

Question #3

All of the following are one of the four main categories of transactions in QuickBooks except?

A. Banking

B. Vendors and expenses

C. Customers and sales

D. Chart of Accounts

Question #4

Ways to navigate QuickBooks include:

A. Icon Bar

B. All of the choices are correct

C. Menus

D. Home Page

Question #5

Which of the following tasks can be completed in the Vendor section of the Home page?

A. Receive Inventory

B. Create Invoices

C. Create Estimates

D. Receive Payments

Question #6

The Chart of Accounts can be accessed from which section of the Home page?

A. Vendor

B. Company

C. Customer

D. Banking

Question #7

Which of the following file types identifies a QuickBooks Backup file?

A. QBM

B. QBW

C. QBX

D. QBB

Question #8

How do you access the screen to add a user and password?

A. Edit Menu > Preferences > Employees

B. Employees > Employee Center

C. Company Menu > Set Up Users and Passwords > Set Up Users

D. Company Menu > Company Information

Question #9

Which of the following is considered a permanent account?

A. All the choices are correct

B. Income Statement accounts

D. None of the choices are correct

E. Balance Sheet accounts

Question #10

Income Statement accounts are also called:

A. None of the choices are correct

B. Equity accounts

C. Permanent accounts

D. Temporary accounts

Question #11

What does the Chart of Accounts list?

A. Income and expense accounts

B. All of the choices are correct

C. Owner's contributions

D. Assets, liabilities and owner's equity accounts

Question #12

An example of a non-posting account is ________.

A. Accounts Payable Account

B. Employee Expense Account

C. Purchase Orders Account

D. Inventory Account

Question #13

QuickBooks lists include all of the following except:

A. Vendor List

B. Item List

C. Owner List

D. Customer List

Question #14

Which of the following QuickBooks features can be used to save a transaction that will be re-used in the future?

A. Create icon

B. Memorized transactions

C. Saved transactions

D. Repeat transactions

Question #15

To use a memorized transaction, select:

A. Select Company section of the Home Page > Saved Transactions

B. None of the choices are correct

C. Select Navigation Bar > Recurring Transaction List

D. Select Lists Menu > Memorized Transaction List

Question #16

The onscreen form for recording bills received is accessed from which section of the Home Page:

A. Banking

B. Vendors

C. Employees

D. Customers

Question #17

The Banking section of the Home Page includes which of the following banking transactions?

A. Enter Bills

B. Enter Credit Card Charges

C. Receive Payments

D. Pay Bills

Question #18

Customer transactions include which of the following?

A. Write Checks

B. Create Invoices

C. Enter Bills

D. Pay Bills

Question #19

In QuickBooks, how do you enter transaction information?

A. None of the choices are correct

B. Onscreen Journal and QuickBooks reports

C. Onscreen forms and QuickBooks reports

D. Onscreen Journal and onscreen forms

Question #20

Which of the following transactions is considered a Customers and Sales transaction?

A. Pay Bills

B. Purchase Order

C. Check

D. Invoice

Question #21

Which of the following is a Banking transaction?

A. Pay bills

B. Enter bills

C. Pay employees

D. Make deposit

Question #22

Which of the following is a Vendor transaction?

A. Receive payments

B. Create estimates

C. Receive inventory

D. Create invoices

Question #23

Which of the following is a Customer transaction?

A. Receive payments

B. Pay sales tax

C. Enter bills

D. Receive bills

Question #24

The Check Register:

A. Is located directly on the Company section of the Home Page

B. Keeps track of company deposits only

C. Lists all accounts and their account numbers

D. Records payments and deposits to the Checking account

Question #25

When reconciling the bank statement using QuickBooks:

A. All deposits listed on the bank statement are selected as cleared in the Reconcile window

B. All of the choices are correct

C. Interest earned is subtracted

D. Service charges are added

Question #26

When the balance of an asset account, like Checking, increases, it means that the account has been:

A. Reconciled

B. Credited

C. None of the choices are correct

D. Debited

Question #27

When recording a bill, QuickBooks automatically:

A. Records an expense (debit) and the obligation to pay later (credit)

B. Records an expense (credit) and the obligation to pay later (debit)

C. Reduces the liability (credit) and the checking account (debit)

D. Reduces the liability (debit) and the checking account (credit)

Question #28

One of the objectives of the bank reconciliation is:

A. Insure the debits equal credits

B. None of the choices are correct

C. Detect errors

D. Pay bills

Question #29

All of the following tasks can be completed in the Banking section of the Home Page except:

A. Reconcile Checking accounts

B. Pay Employees

C. Record deposits

D. Write Checks

Question #30

The Write Checks window can be used to pay which of the following:

A. Sales taxes

B. Payroll checks

C. Bills entered in the Enter Bills window

D. None of the choices are correct

Question #31

In the Check Register, the term "split" indicates the payment is split between two or more:

A. Invoices

B. Purchase orders

C. Checks

D. Accounts

Question #32

When deleting a check all of the following is true except:

A. The deleted check no longer appears in the check register

B. All of the choices are correct

C. It is better to delete the check than void the check in order to erase all records of the transaction

D. QuickBooks changes the amount deducted in the check register to zero

Question #33

When reconciling a bank account, which one of the following is considered a timing difference (difference between the bank balance and the book balance)?

A. Checks that have cleared the bank

B. Errors

C. Deposits recorded by the bank

D. Outstanding checks

Question #34

To record a customer sale on account, select:

A. Create Purchase Order

B. Sales Receipts

C. Create Estimates

D. Create Invoices

Question #35

Which report provides information to help in tracking accounts receivable?

A. Customers with Open Invoices

B. Collections Reports

C. All of the choices are correct

D. Accounts Receivable Aging Detail

Question #36

Which one of the following activities is not shown in the Customers section of the Home Page?

A. Create Invoices

B. Create Sales Receipts

C. Receive Payments

D. Pay Bills

Question #37

To create the Aging of Accounts Receivable report:

A. Select Reports Center > Customers & Receivables

B. Select Reports Center > Company & Financials

C. Select Customers Center > Customers & Receivables

D. Select Company Center > Customers & Receivables

Question #38

The Undeposited Funds account contains:

A. Funds received from customers but not deposited in the bank

B. Only partial payments received from customers

C. Petty Cash funds

D. Funds the company owes vendors

Question #39

When recording a customer payment from a cash sale, select:

A. Create Invoice > Customer Payment > Customer Name Only

B. Make Deposit

C. Create Sales Receipt > Record Deposits

D. Receive Payment > Customer & Job Name

Question #40

What QuickBooks activity comes next in this series of business activities? Create Invoice > Receive Payments > ________

A. Receive Undeposited Funds

B. Create Sales Receipts

C. Make Deposit

D. Pay Bills

Question #41

What QuickBooks activity comes next in this series of business activities:

A. Enter Purchase Order

B. Pay Bills

C. Receive Payments

D. Make Deposit

Question #42

Form 1099 is used to:

A. Report the amount paid to a vendor in compliance with IRS regulations

B. None of the choices are correct

C. Report the amount paid to employees in compliance with IRS regulations

D. Report the amount received from customers in compliance with IRS regulations

Question #43

Which one of the following is not a vendor transaction?

A. Receive inventory

B. Create sales receipt

C. Receive bills

D. Order goods

Question #44

Which one of the following tasks is associated with the Vendors section of the Home Page?

A. None of the choices are correct

B. Receive Inventory

C. Items & Services

D. Invoices

Question #45

Which report summarizes accounts payable balances by the age of the account?

A. Accounts Receivable Aging Detail

B. Accounts Payable Aging Summary

C. Purchases by Vendor Summary

D. Purchases by Item Summary

Need help with your exam preparation?

Existing Quiz Clients Login here