Accounting 120 - Computerized Accounting Systems » Fall 2022 » Ch 15 Quiz

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Question #1
To create a budget:
A.   From the Company Menu, select Planning & Budgeting > Set Up Budgets
B.   From the Company Center, select Company & Financials > Budgets
C.   From the Banking Menu, select Planning & Budgets > Budgets
D.   From the Edit Menu, select Preferences > Set Up Budgets
Question #2
To print a budget:
A.   From the Reports Center, select Accountant & Taxes > Budgets
B.   From the Company Center, select Company & Financials > Budgets
C.   From the Reports Center, select Budgets & Forecasts > Budget Overview
D.   From the Reports Center, select Company & Financials > Budgets
Question #3
When creating a budget in QuickBooks, you can:
A.   Create a budget from previous year's actual data
B.   Create a budget that increases each monthly amount by a specific percentage
C.   Create a budget from scratch
D.   All of the choices are correct
Question #4
Which QuickBooks feature would you use to prepare a bid for a potential customer?
A.   Invoice
B.   Estimates
C.   Progress Billing
D.   Enter Bills
Question #5
Customer payments received on progress invoices are:
A.   Recorded using the Check Register
B.   Recorded using the Statement icon in the Customers section of the Home Page
C.   Recorded using the Progress Invoices icon in the Customers section of the Home Page
D.   Recorded in the same manner as customer payments for standard invoices
Question #6
The audit trail lists:
A.   All of the choices are correct
B.   User ID of person entering transactions
C.   All deleted transactions
D.   All changes to transactions
Question #7
To create an audit trail report:
A.   Select Reports Menu > Company & Financials > Audit Trail
B.   Select the Audit Trail icon in the Company Center
C.   Select the Audit Trail report from the Company section of the Home Page
D.   Select Reports Center > Accountant & Taxes > Audit Trail
Question #8
The audit trail can improve which of the following?
A.   Progress invoicing
B.   Creating estimates
C.   Internal control
D.   Bad debt expense

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