Finance And Accounting

Question: What field do you need to complete in the Enter Time/Single Activity or Weekly Timesheet windows in order to transfer time to employee paychecks?
A
Customer Job

B
Service Item

C
Payroll Item

D
Other Charges Item

Note: Answer not sure
1. Report
Question: Which of the following doesn't describe a measurement set?
A
A measurement set is a group of measurement units that are multiples of the base unit.

B
A unit of a measurement set defines the default units used when purchasing, selling, and shipping items.

C
A measurement set can be shared by all items that use the same base unit.

D
A measurement set consists of units of measure related by type (count, area, weight, length, time, and so on).

Note: Answer not sure
1. Report
Question: Do all vendors need their profiles complete before paying?
A
Yes, without all of the data, Quickbooks will not allow entry

B
Yes, without all of the data, Quickbooks will allow entry but not payment

C
No, Quickbooks will allow payment to be generated, although all the data should be entered

D
No, there's no reason beyond the payee name to bother entering addresses & contact information

Note: Answer not sure
1. Report
Question: What report should be used to check the taxable status of the existing product and service items as well as the rates and agencies associated with the Sales Tax items?
A
Quick Reports

B
Open invoice report

C
Sales tax liability report

D
Item listing report

Note: Answer not sure
1. Report
Question: Money is transferred from one bank account to another. What is the best way to handle this transaction?
A
Banking - Transfer Funds

B
Journal Entry

C
AP Debit & Credit memos

D
Write a check in Quickbooks from the outgoing account and deposit it in the receiving account

Note: Answer not sure
1. Report
Question: Which of the following is a characteristic of a certificate of deposit?
A
You have to earn at least $100,000 in salary to be allowed to buy a CD

B
It is just a different name for a savings account

C
It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days

D
Only large banks offer them

Note: Answer not sure
1. Report
Question: Would a bank be allowed to pay someone from a personal account without a mandate from the customer?
A
No, not without a check drawn against the account by the account holder

B
Yes, but only to government entities

C
Yes, if someone presents a written note in good faith to pay them

D
Yes, because banking is fairly unregulated

Note: Answer not sure
1. Report
Question: What would a person do if they wanted to have the facility to save money as well as issue checks?
A
They can only have one or the other facility

B
Open both a savings and a checking account with the same bank

C
Open a savings account with one bank, and a checking account with another

D
Not use a bank at all

Note: Answer not sure
1. Report
Question: What does the term "Availability Float" imply?
A
The banking hours of your local bank

B
The period of time it takes a check to be cleared

C
A limit on how long a check is good for before it becomes invalid

D
The time period or the amount represented by checks that have been deposited but not cleared

Note: Answer not sure
1. Report
Question: What is the ratio of bank reserves to bank deposits called?
A
Deposit multiplier

B
Deposit schedule

C
Reserve ratio

D
Reserve/Deposit ratio

Note: Answer not sure
1. Report

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Question: What field do you need to complete in the Enter Time/Single Activity or Weekly Timesheet windows in order to transfer time to employee paychecks?

Question: Which of the following doesn't describe a measurement set?

Question: Do all vendors need their profiles complete before paying?

Question: What report should be used to check the taxable status of the existing product and service items as well as the rates and agencies associated with the Sales Tax items?

Question: Money is transferred from one bank account to another. What is the best way to handle this transaction?

Question: Which of the following is a characteristic of a certificate of deposit?

Question: Would a bank be allowed to pay someone from a personal account without a mandate from the customer?

Question: What would a person do if they wanted to have the facility to save money as well as issue checks?

Question: What does the term "Availability Float" imply?

Question: What is the ratio of bank reserves to bank deposits called?