1. Which method does QuickBooks use to value your inventory? a. LIFO b. FIFO c. Average Cost d. Specific Identification

2. From what menu do you change accounting periods? a. Company b. Lists c. Accounting d. QuickBooks does not change accounting periods

3. Which action will cause retained earnings account balance to change: a. Void a check written this year b. Void an unpaid invoice from last year when on the cash basis c. Void an unpaid bill from three years ago when on the cash basis d. Change the date on a check written last year to this year

4. Which account type does not have a register? a. Banking b. Credit Card c. Other Current Asset d. Expense