Quick Books Pro 2008, Finance And Accounting

Question: How can you set up QuickBooks: Pro or higher so that time data for salaried employees is transferred to the payroll automatically?
A
Select the "Use time data to create paycheck" checkbox on the Payroll tab of the employee's record

B
Set up employee defaults

C
Use the Select Billable Time and Costs window

D
All of these

Note: Not available
1. Report
Question: You hire an employee who will work as a staff member, but also provide outside services to your company unrelated to his/her job. How is this best handled in Quickbooks?
A
Create an employee and segregate what he/she does as an employee and as a contractor

B
Create a vendor and enter separate invoices for employee and for contractor

C
Create 2 vendors, one for employee wages and one for contract work

D
Create an employee for his/her regular wages, and a Vendor for his/her contract work

Note: Not available
1. Report
Question: Which of the following reports shows how a specific month's actual results compare with the budget for that month; how the year-to-date actual results compare with the year-to-date budget; and how much of the annual budget has been achieved?
A
Budget Overview

B
Budget Comparison

C
Profit & Loss Budget Performance

D
All of these

Note: Not available
1. Report
Question: Which of the following reports contains all the information about paychecks and the employer's related payroll expenses?
A
Payroll summary

B
Payroll liability balances

C
Payroll item listing

D
Payroll wage summary

Note: Not available
1. Report
Question: How would you best describe the use of the Opening Balance Equity Account during the setup process?
A
It does not have a role during the setup process

B
It is used to track asset account balances

C
It is used as the clearing account for each opening balance entry

D
It is applicable only if the client uses payroll

Note: Not available
1. Report
Question: How can you track deposits that clients make to vendors?
A
Track deposits as negative balances in accounts payable

B
Record the deposit in the Enter Bills window

C
Neither of these

Note: Not available
1. Report
Question: How do you check the version and release number of a QuickBooks for Windows desktop file?
A
Choose Company Information from the Company menu

B
Press Ctrl+1

C
Choose about QuickBooks from the Help menu

D
Choose Preferences from the Edit menu

Note: Not available
1. Report
Question: How can you prevent users from changing transactions from prior periods?
A
Set the Access Prior Periods preference to No

B
Set a closing date in the file and assign a password to the closed period

C
QuickBooks automatically denies access to transactions from prior years

D
None of these

Note: Not available
1. Report
Question: Which of the following QuickBooks utilities is used to check for data file integrity?
A
Restore Data

B
Verify Data

C
Rebuild Data

D
Back Up Data

Note: Not available
1. Report
Question: A base unit in QuickBooks is usually defined as:
A
the smallest unit of measure used in business while buying, tracking, and selling an item

B
the smallest unit of measure for an item to be tracked in inventory

C
the most common unit of measure used in business

D
the largest unit of measure used in business

Note: Not available
1. Report

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Question: How can you set up QuickBooks: Pro or higher so that time data for salaried employees is transferred to the payroll automatically?

Question: You hire an employee who will work as a staff member, but also provide outside services to your company unrelated to his/her job. How is this best handled in Quickbooks?

Question: Which of the following reports shows how a specific month's actual results compare with the budget for that month; how the year-to-date actual results compare with the year-to-date budget; and how much of the annual budget has been achieved?

Question: Which of the following reports contains all the information about paychecks and the employer's related payroll expenses?

Question: How would you best describe the use of the Opening Balance Equity Account during the setup process?

Question: How can you track deposits that clients make to vendors?

Question: How do you check the version and release number of a QuickBooks for Windows desktop file?

Question: How can you prevent users from changing transactions from prior periods?

Question: Which of the following QuickBooks utilities is used to check for data file integrity?

Question: A base unit in QuickBooks is usually defined as: