Question
40. All purchases of inventory for cash are recorded in the a. Write Checks window. b. Purchases window. c. Enter Bills-Items tab. d. Enter Bill-Expenses
40. All purchases of inventory for cash are recorded in the
a. Write Checks window.
b. Purchases window.
c. Enter Bills-Items tab.
d. Enter Bill-Expenses tab.
41. All sales of inventory on account are recorded in the
a. Enter Sales Receipts window Service Invoice.
b. Create Invoices window Professional Invoice.
c. Create Invoices window Product Invoice.
d. Enter Sales Receipts window - Inventory Invoice.
42. Sales discounts are recorded in the
a. Enter Sales Receipts window.
b. Create Invoices window.
c. Enter Bills window.
d. Receive Payments window.
43. An adjustment to the inventory balance is recorded in the
a. General Journal Entry window.
b. Inventory Items List window.
c. Adjust Quantity/Value on Hand window.
d. Enter Bills window.
44. In the Pay Sales Tax window the default general ledger accounts are
a. Sales Tax Payable/Cash-Operating.
b. Cash/Sales Tax Payable.
c. Sales Tax Payable/Accounts Receivable.
d. Accounts Receivable/Sales Tax Payable.
45. The report that displays all transactions affecting an inventory item along with the quantity on hand is the
a. Inventory Sales report.
b. Inventory Purchases report.
c. Reorder report.
d. Inventory Valuation Detail report.
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