Quickbooks chapter 6 test - Study guides, Class notes & Summaries

QuickBooks Chapter 07 Test with Certified Solutions 1.The Cost of Goods Sold in the Profit and Loss account increases when you sell a product. True 2: There is no limit to the number of inventory products you can enter in QuickBooks Online. True 3: The difference between the cost and the sales price is an expense. false 4: You can verify goods were NOT received without applying the receipt of inventory to a purchase order. true 5: QuickBooks Online can receive incomplete orders by leavi...

The Inventory Part window consists of two sides: one for sales information and one for purchase information True Inventory tracking is automatically activated when you create a company file False In QuickBooks, non-inventory parts are tracked in the same way as inventory parts False QuickBooks automatically creates your Sales Tax Liability account for you True

QuickBooks Mayterm Chapter 3 Test Already Passed 1: The Navigation bar is where the link to the Sales center is located. True 2: You can create a statement, receipt, invoice, or other transaction using the Action menu in the Sales center. True 3: A sales transaction can only be recorded when the customer pays for the product or service at the time of the sale. False 4: The sales form settings can be found in Account and Settings under the Your Company heading. True 5: You cannot change ...

Receipt of purchase order items is never recorded before the bill arrives. False A bill can be paid by check or credit card. True The Cost of Goods Sold account Merchandise Discounts is used to record discounts to customers. False

To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasing products

To enter Vendor and Expense transactions: B. From the Navigation Bar select Expenses>New Transaction To enter an Expense transaction: From the Create (+) icon, select Expense QuickBooks considers all of the following to be vendors except: Customers purchasing products

ACCT 1080 EXAM 3 ACCT1080 VERIFIED Q & A 2022-2023 ACCT 1080 EXAM 3 (ACCT1080) Key Terms & Definitions: • Direct Write-off Method and Allowance Method. Which does GAAP require? • Cash Ratio. What does a higher number indicate? • Maturity Value of a Note is.. • Acid Test Ratio • Days Sales in Receivables • A/R Turnover Ratio SAMPLE PROBLEMS: Chapter 7 Accounting Information Systems Learning Objective 7-1 An accounting information system (AIS) collect...

Operating Activity Sales receipt Investing Activity Purchase of common stock Financing Activity Sale of a common stock Fixed Assets Long-term tangible property that a firm owns

Test Bank, Practice exam quizzes for Computer Accounting with QuickBooks 2021 20e by Donna Kay. ISBN-10: 2 and ISBN-13: 7004 Chapter 1 QuickBooks Quick Tour: Navigation and Settings Chapter 2 QuickBooks Chart of Accounts Chapter 3 QuickBooks Transactions Chapter 4 Banking Chapter 5 Customers and Sales Chapter 6 Vendors and Expenses Chapter 7 Inventory Chapter 8 Employees and Payroll Chapter 9 QuickBooks Adjustments Chapter 10 QuickBooks Reports Chapter 11 QuickBooks Service Company ...

What are the two methods of New Company Setup in QuickBooks? Detailed Start and Express Start What is the QuickBooks Easy Step Interview window designed to do? helps you create and set up a new company file In addition to selecting the method of New Company Setup, what is the QuickBooks Setup window designed to do? allows you to enter information on customers, vendors, service items, and inventory part items After completing the Easy Step Interview and QuickBooks Setup windows you then ...