QuickBooks Online Midterm Exam Questions and Answers
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Course
Quickbooks online
Institution
Quickbooks Online
The gear icon is where you: - Answer-Manage users and modify or change company settings
The list of accounts and account numbers used to capture and track transactions is known as: - Answer-Chart of Accounts
When you run a report in QuickBooks online you can only print that report: - Answer-F...
QuickBooks Online Midterm Exam
Questions and Answers
The gear icon is where you: - Answer-Manage users and modify or change company
settings
The list of accounts and account numbers used to capture and track transactions is
known as: - Answer-Chart of Accounts
When you run a report in QuickBooks online you can only print that report: - Answer-
False
Once you set up your company settings, you can never change them: - Answer-False
A company's QBO system is updated: - Answer-Automatically by Intuit
What types of things are you able to do with the "+" (create) icon? - Answer-Invoice a
customer and Enter Bills
When you delete an account from the chart of accounts, it is gone forever: - Answer-
False
Every sub account in QBO must have: - Answer-a parent account
Identify the typical sequence of the following steps: - Answer-1) invoice customer
2) Receive pmts
3) Bank deposit
What is typically used when a customer is buying something now and paying for it now:
- Answer-sales receipt
Not all customers are "taxable" customers: - Answer-True
( ) is considered a "holding" account for pmts. received but not yet taken to the bank -
Answer-Undeposited Funds
A credit memo can be manually or automatically applied: - Answer-True
To enter a sales receipt, do this: - Answer-1) "+" (create icon)
2) sales receipt (in the customer's list)
An ( ) is typically used when a customer is buying something now and paying for it later.
- Answer-invoice
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