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Multiple Choice Quiz
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1
The owner of a sole proprietorship files _______________ attached to Form 1040 to report income and tax deductions for the business.
A)Form 1120
B)Schedule C
C)Schedule D
D)Schedule K
2
When preparing bids for customer jobs, you would print the following:
A)Progress Billing Report
B)Chart of Accounts and Vendor List
C)Estimates
D)General Journal and General Ledger
3
To record a payment by credit card, use the same process as recording a payment by:
A)Check
B)Cash
C)All the above
D)None of these
4
In order to prepare year-end adjustments, you would provide your accountant a copy of your QuickBooks Company files using:
A)Accountant's Copy (.QBX file)
B)Year-End file (.QBY file)
C)Backup file (.QBB file)
D)Working file (.QBW file)
5
To plan for future business expansion, you may want to develop a(n) _______________ in QuickBooks.
A)Payroll Liabilities Report
B)Net Worth Graph
C)Income Tax Preparation Report
D)Budget Report
6
To record a write-off of an uncollectable accounts receivable in QuickBooks, you could do any of the following except:
A)Make a journal entry to remove the customer's accounts receivable
B)Select Edit and then delete the uncollectable customer invoice
C)Use the Credit Memo window
D)Use the Receive Payments window
7
Progress Invoicing is used when:
A)A business undertakes a job that lasts a long period of time and needs to bill customers as the job progresses
B)A business purchases from an outside vendor and needs a longer period of time to pay the purchase invoice
C)Customers have a bad credit rating
D)Estimates are used
8
When the attachments window appears, you can choose from the following options to attach a document:
A)Computer
B)Scanner
C)Doc Center
D)All of these
9
When saving reports as a file to a disk, QuickBooks permits you to select from all of the following file formats except:
A)Comma delimited file
B)ASCII file
C)Tab delimited file
D)All of these
10
The Audit Trail feature permits you to track what type of changes made to your QuickBooks record?
A)Additions
B)Modifications
C)Deletions
D)All of these







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