Quickbooks 2009

1. Which account is used to show what the company owes?

Accounts Payable

Accounts Receivable

Bank Accounts

Undeposited Funds

Chart of Accounts

2. A customer enters the shop and pays for cash for various retail items. What should I issue this customer?

An invoice

An estimate

A cash sales receipt

A purchase order

None of the above

3. What should one eventually do with the monies in the undeposited funds accounts?

Transfer the money to a bank account

Do a Bank Reconciliation

Leave the money in this account

Use this money to pay bills

All of the above

4. You receive a check in the mail from a customer for payment of some goods that they purchased from you last week. Which form would you use to record this transaction?

Cash Receipts form

Receive Payments form

Invoice form

Check payment form

None of the above

5. What function in Quickbooks is used to recover a quickbooks file from a backup file?

The Open Function

The Save Function

The Restore Function

The Backup Function

None of the above

6. Which account shows how much is owed the company?

Accounts Payable

Accounts Receivable

Undeposited Funds

Income Accounts

None of the above

7. Monies received from cash sales, automatically goes into which account?

Savings Accounts

Checking Accounts

Expense Accounts

Undeposited Funds Account

Accounts Payable

8. Which list would I use to create a new bank account?

Item List

Chart of Accounts List

Company Bank Account List

Inventory List

None of the above

9. A customer comes into your store and purchases items on credit, what should I do to record this transaction?

Create a credit memo

Create an invoice

Create a sales receipt

Create a new charge account

None of the above

10. Which item is not an item that can be created using the Item list?

Inventory part item

Service item

Subtotal item

Discount item

Bank deposit item

11. Which quickbooks list would I use to create a service item?

Chart of Accounts List

Item List

Service Item List

Customer List

None of the above

12. Which is not a Centre in Quickbooks?

Customer Centre

Vendor Centre

Employee Centre

Company Centre

None of the above

13. How can you verify whether a certain bill was paid by the company?

Flick through the Accounts Receiver ledger

Flick through the Items List

Flick through the Enter bills forms

Flick through the Invoice forms

None of the above

QuickBooks 2009