QuickBooks Chapter 3 Questions and Answers Already Graded A+
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Course
Quickbooks
Institution
Oxford University (OX)
How can you review a Transaction Report for any account when you are viewing the Balance
Sheet?
Select one:
a. Click the balance in the account line of the Balance Sheet report to view the Transaction
Report.
b. Click the Report icon at the top of the Balance Sheet screen, then choose Transac...
QuickBooks Chapter 5 Questions and
Answers Already Graded A
If a return is made after an invoice has been paid in full, a refund check is issued along with a
credit memo. ✔✔True
QuickBooks automatically applies a payment received to the most
current invoice. ✔✔False
Sales tax will be calculated automatically on an invoice if a
customer is marked taxable. ✔✔True
A new sales item may be added only at the beginning of a period. ✔✔False
Items on a Sales Order are immediately removed from inventory. ✔✔False
Report formats may be customized. ✔✔True
, The Discounts & Credits button on the Receive Payments window allows discounts to be applied
to invoices being paid by clicking Cancel. ✔✔False
Cash sales are recorded in the Receive Payments window and marked paid. ✔✔False
If a customer issues a check that is returned marked NSF, you may charge the customer the
amount of the bank charges and any penalty charges you impose. ✔✔True
Sales tax must be calculated manually and added to sales receipts. ✔✔False
Information regarding details of a customer's balance may be obtained by viewing ______.
A. the Trial Balance
B. the Customer Balance Summary Report
C. the Customer Balance Detail Report
D. an invoice for the customer ✔✔C. the Customer Balance Detail Report
Even though transactions are entered via business documents such as invoices and sales receipts,
QuickBooks keeps track of all
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