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Multiple Choice Quiz
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1
QuickBooks considers all of the following to be vendors except:
A)Utility companies
B)Suppliers of inventory and supplies
C)Tax agencies such as the IRS
D)Customers purchasing goods
2
Which one of the following is not a vendor transaction?
A)Order goods
B)Receive inventory
C)Make deposits
D)Receive bills
3
The Enter Bills window is used to record which one of the following transactions?
A)Owner's investment
B)Services received but not yet paid
C)Items sold to customers
D)Cash purchases of supplies
4
Which of the following activities, and the QuickBooks window used to record it, is incorrect?
A)Receive goods; Item List
B)Order goods; Purchase Order
C)Record inventory information; Item List
D)Sell goods and bill customers; Invoice
5
Which one of the following activities is associated with the Vendor section of the Home page?
A)Items & Services
B)Invoices
C)Manage Sales Taxes
D)None of these
6
All the following are non-inventory items except:
A)Cleaning services
B)Items purchases for a specific customer job
C)Items purchased and used by the company, such as office supplies
D)Goods purchases for resale to customers
7
Recording a purchase of goods using QuickBooks involves all the following steps except:
A)Create invoice order to bill customers for purchases
B)Create purchase order to order items from vendor
C)Receive item and record as inventory or non-inventory part
D)Receive bill and record obligation to pay vendor later
8
QuickBooks tracks inventory using the:
A)Weighted-average method
B)First-In-First-Out
C)Last-In-Last-Out
D)Specific Item
9
Which one of the following reports helps track past due bills and bills that are due shortly?
A)Customer Aging Summary
B)Accounts Payable Aging Summary
C)Accounts Receivable Aging Summary
D)Vendor Aging Report
10
The Physical Inventory Worksheet is used when:
A)inventory items are physically placed in the warehouse
B)the computer goes down
C)taking a physical count of inventory on hand
D)All of these





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