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| 1 | |
Which tax form would you select for a sole proprietorship? |
| | A) | Form 1120 |
| | B) | Form 1120S |
| | C) | Form 1040 |
| | D) | Form 1065 |
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| 2 | |
To create a new company data file in QuickBooks, use the: |
| | A) | File Restore |
| | B) | EasyStep Interview |
| | C) | New Setup File |
| | D) | Company Menu |
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| 3 | |
When setting up a new company in QuickBooks, you can change the _______________ later. |
| | A) | Vendor List |
| | B) | Chart of Accounts |
| | C) | Customer List |
| | D) | All of these |
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| 4 | |
When setting up an existing company in QuickBooks, you would enter a beginning balance for all the following except: |
| | A) | Income Statement accounts |
| | B) | Balance Sheet accounts |
| | C) | Vendors to whom you owe money |
| | D) | Customers who owe you money |
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| 5 | |
The QuickBooks Setup window provides a way to add: |
| | A) | Vendor information |
| | B) | Customer information |
| | C) | Banking information |
| | D) | All of these |
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| 6 | |
A company's legal name is used in legal documents, such as: |
| | A) | Advertising |
| | B) | Sales |
| | C) | Contracts |
| | D) | Marketing |
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| 7 | |
Which types of accounts appear on the balance sheet? |
| | A) | All accounts |
| | B) | Cash Flow accounts |
| | C) | Income, Expense, Liability accounts |
| | D) | Assets, Liabilities, and Owner's Equity accounts |
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| 8 | |
Accumulated Depreciation-Computer would be defined in QuickBooks as a _______________ and a sub-account of _______________. |
| | A) | Owner's Equity; Computer Cost |
| | B) | Fixed Asset; Computer |
| | C) | Fixed Asset; Accumulated Depreciation |
| | D) | Expense; Depreciation Computer |
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| 9 | |
The Vendor List contains information about: |
| | A) | The credit rating of the vendors |
| | B) | The quantity of non-inventory parts on hand |
| | C) | Vendors addresses, contacts, and phone numbers |
| | D) | Customer addresses, contacts, and phone numbers |
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| 10 | |
The Customer List contains information about which of the following: |
| | A) | Inventory items |
| | B) | Customer addresses, contacts, and phone numbers |
| | C) | Non-inventory items |
| | D) | Credit rating of customers |
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