QB Test 4 Review

After quickbooks sets up a chart of accounts in the Easy Step Interview, which of the following is true?

• Accounts open balances can be changed.

• It is possible to add more accounts later.

• New accounts can only be added during the Express Start of Advanced Setup.

• Only Income and Expense accounts can be added after completing the Express Start Setup.

Assume that Quickbooks is now in Singer user mode. What does this mean?

• Multiple users can access the company file, however, their activities are restricted.

• Only one user can work with each functional area.

• Only one user can access the company/data file.

• Multiple users can access the company file, however, only one transaction can be saved at a time.

The bank notified you that a customer's check you deposited has bounced. The customer did not have sufficient funds to cover the check. What should you do?

• Record a transaction to show the customer owes you money and that the checking balance has decreased by the same amount.

• Record a transaction to show the customer owes you money and that the checking balance has increased by the same amount.

• Delete the original transaction.

• Nothing

The bank notifies you that a customers' check you deposited has bounced. The customer does not have sufficient funds to cover the check. What should you NOT do?

• Record a transaction to show the customer owes you money and that the checking balance has decreased by the same amount.

• Call the customer

• Delete the customer payment from the deposit

• Update your records

The company file you are working on is a mess. you decide to start a new file. at the same time you want to keep all the list and preferences and just delete the transactions. How do you do this?

• Click the File menu, choose customers, clean up company data, then choose a transaction option.

• Click the customers menu, choose customers, clean up company data, then choose a transaction option.

• Click the File menu, choose customers,then choose a transaction option.

• Click the File menu, choose utilities, clean up company data, then choose default transaction option.

The computer that houses your QuickBooks data could crash. What should you do in Quickbooks to make sure you always have access to your data?

• Create a back up copy of your company file and store it separately from the computer

• Buy an additional QuickBooks license

• Use Remote Desktop

• All of the above

For each functional area of QuickBooks Pro and Premier, ie Sales Accounts, Accounts Receivable, Purchases, what levels of access can you grant to users?

• You can prohibit access, grant full access or grant selective access; these levels apply to all transactions within that area.

• You can prohibit access, grant full access or grant selective access; these levels apply to specific transactions in that area.

• You can prohibit access or grant full access; these levels apply to specific transactions within that area.

• You can prohibit access or grant full access; these levels apply to all transactions within that area.

How can you ensure that invoice details do not appear on a customer's statement?

• Uncheck the show invoice item detail on statement's box in the create statement window

• Check the show invoice item detail on statement's box in the create statement window

• Turn on invoice detail in customer statement window.

• You can't

How can you ensure that invoice detail appears on a customer statement?

• Uncheck the show invoice item detail on statement's box in the create statement window.

• Click the edit memo and select references. Click the sales and customers icon then uncheck the show details below the statement.

• Turn on invoice detail in customer statement window.

• You can't

How can you open a Quickbooks report in Microsoft Excel?

• Click the import button on the top on any Quickbooks report.

• Click the export button on the top on any Quickbooks report.

• Click the export button on the top of reports in Excel.

• You can't open quickbooks reports in Excel.