AIS- QuickBooks Exam 2 Questions with Latest Update
4 views 0 purchase
Course
Quickbooks online
Institution
Quickbooks Online
Before adding customers, check QBO's: - Answer-Account and Settings.
The Customers page includes the: - Answer-All
When cash sales are recorded, use: - Answer-Sales Receipt.
What customers owe your business is known as: - Answer-Accounts receivable.
The following transaction affects the...
AIS- QuickBooks Exam 2 Questions with
Latest Update
Before adding customers, check QBO's: - Answer-Account and Settings.
The Customers page includes the: - Answer-All
When cash sales are recorded, use: - Answer-Sales Receipt.
What customers owe your business is known as: - Answer-Accounts receivable.
The following transaction affects the customer's balance. - Answer-Credit memo.
To see customer transactions and account balances, display the: - Answer-A/R
Register.
Products and services are associated with this type of account: - Answer-Income.
In this type of report, each transaction's debit and credit is shown: - Answer-Journal.
The inventory valuation summary shows: - Answer-All
The Audit Log displays events occurred in: - Answer-Your local time.
The focus of Chapter 5 is customers and sales: - Answer-True
Starting data is displayed for 11/1/20XX. - Answer-False
A sales receipt is used for customer sales on account. - Answer-False
Credit transactions from customers are accounts payable transactions. - Answer-False
Credit memos apply returns to the customer's balance. - Answer-True
Registers can be used to look at transactions and account balances. - Answer-True
The November bank statement shows checking account activity through 10/30/20XX. -
Answer-False
On invoices and other sales transactions, you choose products and services. - Answer-
True
The Journal is an example of a specialized screen. - Answer-False
, The account distribution for an invoice includes debits to Account 105 Account
Receivable/customer and Account 501 Cost of Goods Sold; and credits to Account 401
Sales, and Account 115 Merchandise Inventory. - Answer-False
When issuing checks or ATMs for expenses, refer to the: - Answer-Transaction register.
To show the amount charged for earlier disbursements, select <Yes> to this window
prompt: - Answer-Auto Recall Dialog.
Vendor purchases are tracked by the following: - Answer-Bill number.
When customers pay what they owe, the check is payable to: - Answer-QB
Cloud_Student Name.
The terms of vendor payments are: - Answer-Net 30.
The Sales Receipts window is used for the following: - Answer-Cash and credit card
sales.
The trial balance account totals for the fourth quarter are the same as: - Answer-
Transaction detail by account.
The customer balance summary total agrees with this account balance: - Answer-
Account 105 Accounts Receivable
The vendor balance summary total agrees with this account balance: - Answer-Account
201 Accounts Payable.
The Inventory valuation Summary shows: - Answer-All of the above.
In Chapter 6, documents trigger transaction analysis. - Answer-True
A remittance is the action of sending money in payment of a bill. - Answer-True
To make sure you are starting in the correct place, display the 11/2/20XX to 11/30/20XX
trial balance. - Answer-False
In Chapter 6, all transactions occurred during November. - Answer-False
When customer payments are received, use the Sales Receipts window. - Answer-
False
Credit card receipts are entered on the Sales Receipts page or window. - Answer-True
Bills show a purchase amount as well as a remittance amount. - Answer-True
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
