Accounting 120 - Computerized Accounting Systems » Spring 2023 » Ch 1 Quiz

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Question #1
Which of the following tasks is completed from the Banking section of the Home Page?
A.   Pay employees
B.   Record deposits
C.   Record payments received from customers
D.   Enter bills
Question #2
Accounting information is used to do all of the following except:
A.   Prepare financial statements for investors
B.   Prepare meeting minutes for the board of directors
C.   Prepare tax returns for the IRS
D.   Prepare reports for management
Question #3
Most accounting systems consist of which of the following components:
A.   All of the choices are correct
B.   Input
C.   Processing
D.   Output
Question #4
A business transaction is an exchange between the QuickBooks company and:
A.   All of the choices are correct
B.   Customer
C.   Employee
D.   Vendor
Question #5
Reports for managers can help to identify:
A.   All of the choices are correct
B.   Overdue customer accounts
C.   Most profitable product
D.   Least profitable product
Question #6
In QuickBooks, how do you enter transaction information?
A.   Onscreen Journal and QuickBooks reports
B.   Onscreen Journal and onscreen forms
C.   Onscreen forms and QuickBooks reports
D.   None of the choices are correct
Question #7
Which one of the following activities is not associated with the Employee section of the Home Page?
A.   Process Payroll Forms
B.   Pay Payroll Liabilities
C.   Enter Time
D.   Write Checks
Question #8
All of the following are one of the four main categories of transactions in QuickBooks except?
A.   Banking
B.   Chart of Accounts
C.   Customers and sales
D.   Vendors and expenses
Question #9
Which of the following tasks can be completed in the Vendor section of the Home page?
A.   Create Estimates
B.   Receive Inventory
C.   Create Invoices
D.   Receive Payments
Question #10
The Chart of Accounts can be accessed from which section of the Home page?
A.   Banking
B.   Vendor
C.   Customer
D.   Company

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