A.   Enter bills

B.   Record payments received from customers

C.   Pay employees

D.   Record deposits

A.   Company address

B.   Federal ID Tax number

C.   Industry type

D.   Fiscal or calendar year

A.   Undeposited Funds

B.   Checking

C.   Accounts Payable

D.   Accounts Receivable

A.   Bring account balances up to date at year end

B.   Close temporary accounts at year end

C.   Close permanent accounts at year-end

D.   All of the choices are correct

A.   QBB

B.   QBX

C.   QBM

D.   QBW

A.   Inventory Sold

B.   Materials Cost

C.   Items Sold

D.   Cost of Goods Sold

A.   Create Purchase Order > Receive Payment > Make Deposits

B.   Create Invoice > Receive Inventory > Pay Bill > Record Deposits

C.   Create Purchase Order > Receive Inventory > Enter Bill > Pay Bill

D.   Create Invoice > Receive Payment > Record Deposits

A.   Profit & Loss

B.   All of the choices are correct

C.   Balance Sheet

D.   None of the choices are correct

A.   Jobs and Estimates

B.   Bills

C.   Time and Expenses

D.   Sales and Customers

A.   Home Page

B.   All of the choices are correct

C.   Icon Bar

D.   Menus

A.   Create Estimates

B.   Create Invoices

C.   Receive Inventory

D.   Receive Payments

A.   Pay sales tax

B.   Record inventory received

C.   Enter bills

D.   Create invoices

A.   Expense

B.   Fixed Asset

C.   Retained Earnings

D.   Owner's Equity

A.   Temporary accounts

B.   None of the choices are correct

C.   Permanent accounts

D.   Equity accounts

A.   Accounts Receivable

B.   Advertising

C.   Rent

D.   Utilities

A.   Summarizes what a company owns and what it owes

B.   lists the accounts and account numbers

C.   Summarizes the results of a company's operations, listing income and expenses

D.   lists a company's assets

A.   Purchase Orders Account

B.   Accounts Payable Account

C.   Employee Expense Account

D.   Inventory Account

A.   To identify owner's equity.

B.   To calculate income.

C.   To track information necessary for the accounting system.

D.   To calculate expenses.

A.   Company

B.   Customers

C.   Banking

D.   Vendors

A.   Customers

B.   Banking

C.   Employees

D.   Vendors

A.   Check

B.   Pay Bills

C.   Invoice

D.   Purchase Order

A.   Customer List

B.   All of the choices are correct

C.   Item List

D.   Vendor List

A.   Enter bills

B.   Pay employees

C.   Make deposit

D.   Record payments received from customers

A.   Pay sales tax

B.   Enter bills

C.   Create invoice

D.   Record inventory received

A.   Keeps track of company deposits only

B.   Lists all accounts and their account numbers

C.   Records payments and deposits to the Checking account

D.   Is located directly on the Company section of the Home page

A.   Debited

B.   None of the choices are correct

C.   Reconciled

D.   Credited

A.   Outstanding checks

B.   Deposits in transit

C.   Both deposits in transit and outstanding checks

D.   Interest earned

A.   Pay Bills

B.   Enter Bills

C.   Receive Payments

D.   Make Deposits

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

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

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

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

A.   None of the choices are correct

B.   Sales Taxes

C.   Rent Payments

D.   Legal Services

A.   To conserve resources, it is best if the owner uses one Checking account for both personal and business purposes

B.   None of the choices are correct

C.   To maintain more consistent records, it is best if the owner maintains a separate personal Checking account, but both the owner's personal Checking and business Checking accounts are listed in the Chart of Accounts

D.   To maintain separation between the personal and business accounting records, the owner's personal Checking account should not be used to pay bills for the business and should not be listed in the business' Chart of Accounts

A.   Invoices

B.   Purchase orders

C.   Checks

D.   Accounts

A.   Errors

B.   Checks that have cleared the bank

C.   Deposits recorded by the bank

D.   Outstanding checks

A.   All of the choices are correct

B.   Collections Reports

C.   Accounts Receivable Aging Summary

D.   Customers with Open Invoices

A.   Receive Payments

B.   Create Sales Receipts

C.   Create Invoices

D.   Make Deposit

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

B.   Petty Cash funds

C.   Funds the company owes vendors

D.   Only partial payments received from customers

A.   Create Invoice > Customer Payment > Customer & Job Name

B.   Receive Payment > Customer & Job Name

C.   Make Deposit > Customer & Job Name

D.   Create Sales Receipt > Record Deposits

A.   Customers section of the Home Page

B.   Customers Menu

C.   Vendor section of the Home Page

D.   Customers Center

A.   Recorded in a Credit Card Sales window

B.   Recorded using a Create Invoices window

C.   Recorded using the Create Sales Receipts window

D.   Recorded using the Enter Bills window

A.   Leasing companies

B.   Tax agencies such as the IRS

C.   Customers purchasing goods

D.   Suppliers of inventory and supplies

A.   Increases the Accounts Payable account and increases the Checking account

B.   Decreases the Accounts Payable account and decreases the Checking account

C.   Decreases an Expense account and decreases the Checking account

D.   Increases an Expense account and increases the Accounts Payable account

A.   After receiving a service

B.   At the time of providing a service

C.   Before receiving a service

D.   When submitting a purchase order

A.   Receive payments

B.   Sell products

C.   Create invoices

D.   Enter bills

A.   Debit Checking account, Credit Accounts Payable

B.   Debit Expense account, Credit Accounts Payable

C.   Debit Accounts Payable, Credit Checking account

D.   Debit Accounts Payable, Credit Expense account

A.   Non-inventory items

B.   Inventory items

C.   Service items

D.   All of the choices are correct