433 QUICKBOOKS ONLINE PLUS: A Complete Course 2017 END-OF-CHAPTER QUESTIONS TRUE/FALSE ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER. (Note: the question numbers do not refer to the chapter objectives.) 6.01. If a customer issues a check that is returned marked NSF, you may charge the 6.02. 6.03. 6.04. 6.05. customer the amount of the bank charges and any penalty charges you impose. A Logo authorizes you to access custom forms. Sales tax is a fee charged by government agencies on sales of products. Each Location of the business may use a different address and phone number. Sales discounts are always applied after sales tax. 6.06. A Delayed Charge is added to the customer's balance. 6.07. All payments received by QuickBooks Online, including debit cards and credit 6.08. 6.09. 6.10. cards, are placed in Undeposited Funds until the bank deposit is made. Terms of 2% 10 Net 30 are used for NSF Check penalties. Locations are allowed to select a descriptive name; such as, Store. A Bundle is a group of sales items sold together. MULTIPLE CHOICE WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER Transactions may be categorized based on-, and-. A. Location and Class B. Settings and Class C. Locations and Settings D. Any of the above 6.11. 6.12. To view the quantity on hand for an inventory item, you prepare the report. A. Inventory Valuation Detail B. Inventory Valuation Summary C. Either A or B D. None of the above CHAPTER 6-Sales and Receivables: Products, Sales Tax, and Service Items 434 6.13. When a customer qualifies for an early payment discount, you record the discount A. On the original Invoice B. As a Journal entry C. On a new Invoice D. In the Sales Discount register 6.14. Payment Methods are created for- A. Debit Cards B. MasterCard C. Visa D. All of the above 6.15. The report that lists all of the unpaid invoices for each customer is the report. A. Customer Balance Summary B. Customer Balance Detail C. Collections report D. Open Invoices 6.16. A Customer Note, such as a dog's name, may be added by A. Editing the Individual Account B. Entering it in Add Notes in the Customer's Account C. Either A or B D. Entering the Note on an Invoice 6.17. A Sales Discount is calculated sales tax. A. Before B. After C. Before or After D. None of the above 6.18. When a customer returns an item from a sale on account, a(n)--is completed. A. Return Receipt B. Credit Memo C. Invoice D. Sales Receipt 6.19. To record a sale and the payment at the same time, you prepare a(n) form. A. Invoice B. Receive Payments C. Sales Receipt D. Both A and B 6.20. The Sales Tax Center must be set up to include the A. Sales Tax Rate B. Name of the Sales Tax C. Agency collecting the Sales Tax D. All of the above