Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 11_14 Quiz
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Question #1
Which tax form would you select for a Subchapter S corporation?
A.
Form 1040S
B.
Form 1040
C.
Form 1120S
D.
Form 1120
Question #2
Which tax form would you select for a Corporation?
A.
Form 1040S
B.
Form 1120
C.
Form 1065
D.
Form 1120S
Question #3
To create a new company data file in QuickBooks, use the:
A.
Company Menu > New Company
B.
File Menu > New Company
C.
File Menu > Open or Copy Company
D.
Company section of the Home Page > New Company
Question #4
When setting up a new company, QuickBooks automatically creates:
A.
Chart of Accounts
B.
Vendors List
C.
Customers List
D.
None of the choices are correct
Question #5
To edit an account in the Chart of Accounts:
A.
From the Company Center > Edit Chart of Accounts
B.
From the Company Menu > New Account
C.
From the Chart of Accounts window > Account > Edit Account
D.
From the Chart of Accounts window > Account > New Account
Question #6
Which icon does not appear in the Vendors section for service companies that do not sell inventory?
A.
All of the choices are correct
B.
Pay Bills
C.
Purchase Orders
D.
Enter Bills
Question #7
To display account numbers in the Chart of Accounts, select:
A.
Company > Preferences
B.
Edit > Options
C.
Company > Accounts
D.
Edit > Preferences
Question #8
The Vendors List contains information about:
A.
Addresses, contacts and phone numbers for suppliers
B.
Addresses, contacts and phone numbers of customers
C.
Quantities and prices of items on hand
D.
All of the choices are correct
Question #9
The Customers List contains information about:
A.
The credit rating of the vendors
B.
Vendors from whom the company buys products and services
C.
Customer addresses, contacts and phone numbers
D.
The quantity of non-inventory parts on hand
Question #10
Which tax form would you select for a Partnership?
A.
Form 1120S
B.
Form 1040S
C.
Form 1065
D.
Form 1120
Question #11
An accounting firm is an example of a ________ company.
A.
Service
B.
Product-based business
C.
Retail Shop
D.
Manufacturing
Question #12
When you place an order for items from a vendor, which one of the following QuickBooks forms would you use?
A.
None of the choices are correct
B.
Receive Inventory
C.
Purchase Order
D.
Create Invoice
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