1. What is the purpose behind memorized transactions?

2. What does the abbreviation C.O.G.S stand for?

3. Sales invoices are automatically sequentially numbered by Quickbooks: True or False

4. What are Undeposited Funds? Where can you select or deselect the option: Use Undeposited Funds as a default deposit to account? (2 marks)

5. If you have limited information about a new business, the Detailed Start:EasyStep Interview method should be used to create a new company file: True or False

6. What are the three options available to edit accounts in the Chart of Accounts?

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