Acctg. 2 QB Cert #3

Which report is also known as an income statement and summarize income and expenses for a month.

• Sales tax liability
• QuickBooks provides fields so you can track purchase and sales information for that item
• QuickBooks allows you to merge an expense account with an income account
• For something you buy and sell but do not need track the quantity on hand.
• Profit and loss standard

When making your payroll tax deposit, how can you add IRS INTEREST and/or penalties?

• Profit and loss standard
• Only the administrator is allowed in the file when it is in single user mode
• Click the modify report button and on the display tab check or ad or uncheck remove columns
• When you purchase or sell an item, the value of the purchase or sales flows to the account and therefore the financial statement you selected when you set up the item.
• Click the expense tab and enter the appropriate account and amount of interest and penalties.

Which of the following is a reason to create a new company file?

• Click the expense tab and enter the appropriate account and amount of interest and penalties.
• For something you buy and sell but do not need track the quantity on hand.
• When you purchase inventory parts
• Sales tax liability
• To start over when a company file has many error that are beyond repair

When you enter a purchase order for inventory, which accounts are affected?

• To start over when a company file has many error that are beyond repair
• When you purchase or sell an item, the value of the purchase or sales flows to the account and therefore the financial statement you selected when you set up the item.
• QuickBooks provides fields so you can track purchase and sales information for that item
• Profit and loss standard
• None, because purchase order are non-posting transactions.

After QuickBooks set up a chart of account in the easy step interview, which of the following is TRUE?

• None, because purchase order are non-posting transactions.
• Sales tax liability
• Only the administrator is allowed in the file when it is in single user mode
• Click the expense tab and enter the appropriate account and amount of interest and penalties.
• It is possible to add more account later

Which of the following is TRUE regarding general journal entries?

• It is possible to add more account later
• Profit and loss standard
• For something you buy and sell but do not need track the quantity on hand.
• To start over when a company file has many error that are beyond repair
• General journal entries require a good understanding of debits and credits and should not be used by non accountants

Which of the following statement is TRUE regarding how you recorded a debit card transaction in QuickBooks.

• General journal entries require a good understanding of debits and credits and should not be used by non accountants
• Click the expense tab and enter the appropriate account and amount of interest and penalties.
• When you purchase or sell an item, the value of the purchase or sales flows to the account and therefore the financial statement you selected when you set up the item.
• None, because purchase order are non-posting transactions.
• Use the write checks window or check register and type debit in the check number field.

When can you delete a check from QuickBooks without voiding it?

• Use the write checks window or check register and type debit in the check number field.
• To start over when a company file has many error that are beyond repair
• Sales tax liability
• It is possible to add more account later
• You enter a check in QuickBooks but haven't printed it yet. You realize the purchase was actually made using a credit. The check was never really used.

What tool do you use to move your logo to a from?

• You enter a check in QuickBooks but haven't printed it yet. You realize the purchase was actually made using a credit. The check was never really used.
• None, because purchase order are non-posting transactions.
• Profit and loss standard
• General journal entries require a good understanding of debits and credits and should not be used by non accountants
• Layout designer

What is the reason for hot being able to delete a list entry

• Layout designer
• It is possible to add more account later
• Click the expense tab and enter the appropriate account and amount of interest and penalties.
• Use the write checks window or check register and type debit in the check number field.
• The entry has been used in a transaction.