QuickBooks Chapter 5 (2024/25); Questions and Answers 100% Correct
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Course
QuickBooks
Institution
QuickBooks
QuickBooks Chapter 5 (2024/25); Questions
and Answers 100% Correct
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 c...
QuickBooks Chapter 5 (2024/25); Questions
and Answers 100% Correct
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
, QuickBooks Chapter 5 (2024/25); Questions
and Answers 100% Correct
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
transactions ______.
A. in a chart
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