32-45 True or False Questions

32. Classes are not allowed to use a descriptive name, such as, Store. 33. An Expense transaction is recorded for Petty Cash purchases. 34. Reports are accessed by clicking the Gear button and are grouped into categories according to business functions. 35. There are three distinct areas of information for each employee: Pay. Profile, and Employment. 36. A complex password must be entered each time you access the Test Drive Company 37. An owner's withdrawal is recorded as a payroll expense. 38. When you have a budget, you cannot purchase office supplies if it is over the budgeted amount. 39. QuickBooks Online automatically transfers Net Income into Retained Earnings at the end of the year. 40. You can add preferred invoice terms by editing Sales Settings. 41. The Bill Payment List shows all the checks written to pay bills. 42. You can make a bill payment directly from the bill. 43. An Unpaid Bills Detail shows you the outstanding balances for all customers that owe you money. 44. Cloud-Based Computing uses the Internet to provide program access. 45. In the text, sales tax is charged on all inventory/product items. PLE CHOICE = THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED RE THE QUESTION NUMBER method of inventory valuation. 46. QuickBooks Online Plus uses the A. FIFO B. Average Cost C. Declining Balance D. Accelerated Use