1.You have entered a Purchase Order in QuickBooks for $1,000 to purchase inventory.Which of the following accounts are affected?

a.Inventory Account in increased by $1,000 and Chequing Account is decreased by

$1,000

b.Inventory Account is decreased by $1,000 and Chequing Account is increased by

$1,000

c.Inventory Expense is increased by $1,000 and Cost of Goods Sold Account is increased by $1,000

d.Inventory Expense is increased by $1,000 and Cost of Goods Sold Account is decreased by $1,000

e. None of the above

2.Which of the following GST/PST preferences are not available in QuickBooks?

a.GST/PST reporting period

b.Government tax agency to remit payments to

c.Default tax codes

d.Electronically file your GST/PST payment