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Multiple Choice Quiz
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1
All of the following are ways that a customer can pay for goods or services except:
A)Credit card sales
B)Cash sale
C)Invoice sale
D)Credit sale
2
When a customer pays with _______________ at the time of sale, click the Create Sales Receipts icon.
A)Cash
B)Check
C)Credit card
D)All of these
3
The following types of reports are available from the Report Center > Customers and Receivables except:
A)Job Profitability reports
B)Accounts Receivable Aging reports
C)Customer List reports
D)Customer Balance reports
4
Under what circumstances is a progress invoice used in QuickBooks?
A)When the job is completed
B)QuickBooks does not support progressive invoicing
C)When the customer is billed as the work progresses
D)Always, all invoices are progressive.
5
Which one of the following activities is not associated with the Customer section of the Home page?
A)Finance Charges
B)Purchase Orders
C)Refunds and Credits
D)Statements
6
Credit sales occur when a company provides goods and services to customers and in exchange receives:
A)a promise that the customer will pay later
B)an invoice from the customer
C)a certified check from he customer
D)a note payable from the customer
7
Accounts Receivable Reports can be accessed from the:
A)Enter Bills icon in the Vendor section of the Home Page
B)Deposit icon in the Customer section of the Home Page
C)Company Information icon on the File menu
D)Report Center or Customer Center
8
When a credit sale is recorded on an invoice, QuickBooks records a:
A)debit (increase) to cash
B)credit (increase) to owner's contribution
C)debit (increase) to accounts receivable
D)credit (increase) to accounts payable
9
The Job Profitability Summary Report is accessed from the:
A)Vendor Center
B)Report Center
C)Employee Center
D)Company Center
10
The steps to record a credit sale in QuickBooks are:
A)Create Purchase Order, Receive Payment, Record Deposit
B)Create Invoice, Receive Payment, Record Deposit
C)Create Sales Receipt, receive Payment, Record Deposit
D)None of these





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