Exam (elaborations)
Bookkeeping with Quickbooks
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Bookkeeping with Quickbooks
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Bookkeeping with Quickbooksyou're ready to create a new company file. which of the following quickbooks
features should you use? - ANSWER EasyStep interview
ace just bought a new vehicle for the company. what account type should you use
to track the value of a vehicle he has purchased? - ANSWER
Fixed Asset
in quickbooks, the book value of a fixed asset account is represented by the sum if
its cost and which subaccount? - ANSWER Accumulated
Depreciation
which account in quickbooks will help you track bills ace receives from his
vendors? - ANSWER accounts payable
,which of the following best describes a purchase order? - ANSWER
a document indicating that you have ordered products or services from a vendor
ahead of delivery
ace receives a customer payment for a completed job. when you enter the
customer payment in quickbooks, the payment is first recorded to which of the
following accounts? - ANSWER undeposited funds
ace has completed his first month of business and wants to see how he's doing.
which of the following quickbooks preset reports will show his company's financial
position is that (or ant) moment in time? - ANSWER
balance sheet
ace is trying to learn more about quickbooks files and calls his accountant. the first
thing he wants to know is the difference between a portable file and an
accountant copy. if his accountant knows his stuff, what would he ANSWER? -
ANSWER an accountant's copy allows the user to still work in
the file while the accountant also makes entries
, ace is interested in offering all nikon digital cameras at 20% off as a summer
promotion hat would you do in Quickbooks to account for this sale? -
ANSWER change the price of the items in the change item
Prices window
the fiscal year for ace photography has come to an end qhat so you do in
QuickBooks to close the books - ANSWER set a closing
date password
ace is interested in giving a discount to some of his loyal customers ad he doesn't
need to teach this information which of the following would you create in
Quickbooks to grant the discount? - ANSWER a fixed
percentage price level
ace has been reviewing his finance charge policy and wants you to, make some
changes which feature should you use to adjust the finance charge settings in the
company file? - ANSWER preferences
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