Finance And Accounting

Question: Why is it important to include the customers' email address in their Customer set up?
A
So you do not have to keep record in your email program

B
It enables Quickbooks to email a statement, invoice, credit memo or other document to the customer

C
It is not possible for you to proceed without an email address in the profile

Note: Answer not sure
1. Report
Question: Which report would you recommend for clients who want to know which customers made the maximum purchases from them?
A
Sales by customer detail

B
Sales by customer summary

C
Income by customer detail

D
A/R aging summary

Note: Answer not sure
1. Report
Question: Which of the following balance sheet accounts doesn't have an account register?
A
Retained earnings

B
Opening balance equity

C
Payroll liabilities

D
Owner's capital

Note: Answer not sure
1. Report
Question: Which of the following can help you recreate information about deleted transactions by providing debit and credit details for the original transactions?
A
Audit trail report

B
Deleted transactions report

C
Voided/deleted transaction history report

D
None of these

Note: Answer not sure
1. Report
Question: In which list do you enter the sales tax rates?
A
Vendor list

B
Sales Tax list

C
Item list

D
Sales Tax Payable list

Note: Answer not sure
1. Report
Question: Collecting accounts receivable depends on what other activity happening first?
A
A customer being determined as delinquent

B
A purchase order being issued

C
An invoice being generated

D
A quote being generated

Note: Answer not sure
1. Report
Question: In the Working Trial Balance, what does 0.00 for each column indicates?
A
The Working Trial Balance report basis is set to Cash

B
There was no activity for that account in the current period

C
Total debits equal total credits

D
None of these

Note: Answer not sure
1. Report
Question: Which of the following can be done in the Financial Statement Designer?
A
Quick Zoom to edit source transactions

B
Customize Statements to report on net income before and after tax

C
Export Customized Templates for use with other clients

D
All of these

Note: Answer not sure
1. Report
Question: Which of the following tasks is not allowed while working in the accountant's copy?
A
Entering general journal transactions.

B
Adding new items to the Payroll Item list.

C
Creating new reports.

D
Making adjusting entries.

Note: Answer not sure
1. Report
Question: If a bank reconciliation does not balance even after reviewing the transactions, what is the best option?
A
Book an adjustment to Misc Expense regardless of the amount in order to force it to balance

B
Leave it unbalanced and assume it will clear the following month

C
Tell your supervisor there is an accounting error and someone needs to find it

D
Unclear all transactions and begin again

Note: Answer not sure
1. Report

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Question: Why is it important to include the customers' email address in their Customer set up?

Question: Which report would you recommend for clients who want to know which customers made the maximum purchases from them?

Question: Which of the following balance sheet accounts doesn't have an account register?

Question: Which of the following can help you recreate information about deleted transactions by providing debit and credit details for the original transactions?

Question: In which list do you enter the sales tax rates?

Question: Collecting accounts receivable depends on what other activity happening first?

Question: In the Working Trial Balance, what does 0.00 for each column indicates?

Question: Which of the following can be done in the Financial Statement Designer?

Question: Which of the following tasks is not allowed while working in the accountant's copy?

Question: If a bank reconciliation does not balance even after reviewing the transactions, what is the best option?