Quickbooks chapter 3 exam - Study guides, Class notes & Summaries

In QuickBooks, the Enter Sales Receipts window will result in a debit to - Answer-the Cash or Undeposited Funds account. A sale on account - Answer-creates an account receivable Which statement is false? - Answer-Customers can be added or edited in the Customer Center, but not deleted Which of the following is false? - Answer-Cash sales for which payment is received immediately do not need to be entered in a QuickBooks window. The Open Invoices report does not - Answer-show a custome...

How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transaction Report. c. Click Transaction in the account line of the Balance Sheet report to view the Transaction Report. d. None of these options. a How do you access Company Settings? Select one: a. Co...

How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transaction Report. c. Click Transaction in the account line of the Balance Sheet report to view the Transaction Report. d. None of these options. a How do you access Company Settings? Select one: a. Co...

Credit Memos are prepared to record a reduction to a transaction. True When using QuickBooks, checks may not be written in a checkbook. False QuickZoom is a QuickBooks feature that allows detailed information to be displayed. True

How can you review a Transaction Report for any account when you are viewing the Balance Sheet? Select one: a. Click the balance in the account line of the Balance Sheet report to view the Transaction Report. b. Click the Report icon at the top of the Balance Sheet screen, then choose Transaction Report. c. Click Transaction in the account line of the Balance Sheet report to view the Transaction Report. d. None of these options. a How do you access Company Settings? Select one: a. Com...

Credit Memos are prepared to record a reduction to a transaction. True When using QuickBooks, checks may not be written in a checkbook. False QuickZoom is a QuickBooks feature that allows detailed information to be displayed. True A cash purchase can be recorded by writing a check or by using petty cash. True Once a report format has been customized as a QuickBooks preference for a company, QuickBooks will automatically use the customized format. True In a service business, most of the acc...

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) collects, records, stores, and processes accounting data to produce info...