Can i get help with these Quickbooks ?s.

1 Which "behind the scenes" images show what happens when you receive inventory?

a.Debit Accounts Receivable, credit Cost of Goods Sold

b.Debit Accounts Payable, Credit Inventory Asset

c.Debit Asset Inventory, credit Accounts Payable

d.Debit Cost of Goods Sold, credit Accounts Payable

2What is an account such as Prepaid Rent used for?

Select one:

a.To hold funds that will be paid to the landlord

b.

To track rent payments

c.

To match income with expenses

d.

To track tax that has been collected

3 Mackenzie automatically ships a supply of supplements to a customer on the first of each month. How can she ensure the invoice is produced on time each month?

Select one:

a.Set up a bill to be delivered.

b.Create memorized transaction.

c.Create current liability.

d.Create other current asset.

4 Bernard wants to keep a small amount of cash on hand for minor expenditures. What should he set up?

Select one:

a.Payable account

b.Cash drawer

c.Petty cash account

d.Point of sale system

5 How should you deal with an uncollectable receivable in QuickBooks if it includes sales tax?

Select one:

a.Use the discount method.

b.Use a credit memo.

c.Re-invoice the customer for the amount.

d.Treat it as an allowance.

6 Juanita just started using QuickBooks for payroll. She was told to set up employee defaults but isn't sure how to go about it. What would you recommend to her?

Select one:

a.Defaults don't need to be set up; it's more efficient to not use them.

b.Set up the defaults as they apply to your most senior employee.

c.Set up the defaults as they apply to your own circumstances.

d.Choose options that apply to the majority of employees and edit as needed.

7 Mayra is using an outside payroll service and was warned never to use the Write Checks window. What advice would you give Mayra?

Select one:

a.Don't use the Write Checks window for paychecks; use the Write Paychecks window.

b.Run all outside payroll service information through the QuickBooks payroll features to track specific withholdings and deductions.

c.Have the outside payroll service produce all employee and liability checks so she doesn't have to worry about it.

d.It's OK to use the Write Checks window to enter payroll from an outside service.

8 How does QuickBooks produce the required federal, state, and local payroll forms and reports?

Select one:

a.It keeps a separate set of records for payroll.

b.Nothing; you must track all the information on your own.

c.It links you to the federal and state payroll systems so you can update the information.

d.It makes you download a payroll module every month to update your file.

9 Arwen is not sure her payroll taxes and deductions are being routed to the correct expense and liability accounts. What report can she run to verify?

Select one:

a.Expense and Liability Routing report

b.Payroll Item Listing report

c.Payroll Expense report

d.Payroll Tax Routing report

10 Anything you wish to include on a paycheck must first be set up as a:

Select one:

a.

payroll item

b.

payroll liability

c.

payroll expense

d.deduction