CH4-39 CH3-32 The shop manager uses a company credit card to purchase miscellaneous supplies. When the charge is entered in QuickBooks, the transaction type is A. Bill B. Bill payment C. Check D. Credit card Which of the following accounts would not be automatically closed by QuickBooks at the start of a new fiscal year. A. Salaries expense B. Dividends C. Service revenue D. Interest expense CH3-33. CH4-40. Which of the following statements is false? A. There is no difference between a voided check and a deleted check. B. Checks are voided as of the original check date unless the check is dated in a closed period and the user elects to use a current period date. C. Voided checks are accessible using the Find feature. D. Voided checks appear on journal reports. Balance Sheet and Profit & Loss (income statement) reports are accessed through on the Reports dropdown menu (main menu bar). A. Company & Financial B. Accountant & Taxes C. Financial Statements D. Month End Reports CH3-34 General Accounting Questions (3 Points) Three bills from the same vendor are displayed in the Pay Bills window. Which of the following statements is not true? A. Three checks will automatically be created (one for each bill). B. One check (paying all three bills) will be created if all three bills are selected. C. The due date of each bill will be displayed. D. You can elect to pay one, two or all three of the bills with a single check. The A/P Aging Summary is found in the group of reports on the Reports dropdown menu. A Accountant & Taxes B. Purchase C. Vendors & Payables D. Company & Financial CH1-GA-01. Which of the following accounts would appear on the balance sheet of a company? Select all that apply. A. Salaries expense B. Unearned revenue C. Notes payable D. Depreciation expense E. Prepaid expenses F. Accumulated depreciation G. Cash CH3-35. CH4-36. Which of the following accounts could not be reconciled using QuickBooks reconciliation feature? A. Cash B. Credit card payable C. Accounts payable D. Unearned revenue CH1-GA-02. Which of the following accounts would not appear on the income statement? Select all that apply. (4 total) A. Unearned revenue B. Prepaid expenses C. Service revenue D. Loss on sale of equipment E. Dividends F. Accounts receivable G. Depreciation expense CH4-37. CH1-GA-03. Payroll taxes withheld from an employee's paycheck would normally be recorded as a(n) The QuickBooks report that best shows the financial position of a company at a point in time is the report. A. Statement of Financial Position B. Balance Sheet C. Profit & Loss D. Journal A. asset B. current liability C. expense D. other expense CH4-38. The make general journal entries form A. is accessed through the Home page B. is accessed through the Company dropdown menu on the main menu bar C. is be accessed through the Lists dropdown menu on the main menu bar D. is accessed through the Edit dropdown menu on the main menu bar. CH3-GA-04. Certain payments to 1099 vendors must be reported to A. the Internal Revenue Service. B. the Social Security Administration. C. the Department of Labor D. all of the above agencies. CH4-39 CH3-32 The shop manager uses a company credit card to purchase miscellaneous supplies. When the charge is entered in QuickBooks, the transaction type is A. Bill B. Bill payment C. Check D. Credit card Which of the following accounts would not be automatically closed by QuickBooks at the start of a new fiscal year. A. Salaries expense B. Dividends C. Service revenue D. Interest expense CH3-33. CH4-40. Which of the following statements is false? A. There is no difference between a voided check and a deleted check. B. Checks are voided as of the original check date unless the check is dated in a closed period and the user elects to use a current period date. C. Voided checks are accessible using the Find feature. D. Voided checks appear on journal reports. Balance Sheet and Profit & Loss (income statement) reports are accessed through on the Reports dropdown menu (main menu bar). A. Company & Financial B. Accountant & Taxes C. Financial Statements D. Month End Reports CH3-34 General Accounting Questions (3 Points) Three bills from the same vendor are displayed in the Pay Bills window. Which of the following statements is not true? A. Three checks will automatically be created (one for each bill). B. One check (paying all three bills) will be created if all three bills are selected. C. The due date of each bill will be displayed. D. You can elect to pay one, two or all three of the bills with a single check. The A/P Aging Summary is found in the group of reports on the Reports dropdown menu. A Accountant & Taxes B. Purchase C. Vendors & Payables D. Company & Financial CH1-GA-01. Which of the following accounts would appear on the balance sheet of a company? Select all that apply. A. Salaries expense B. Unearned revenue C. Notes payable D. Depreciation expense E. Prepaid expenses F. Accumulated depreciation G. Cash CH3-35. CH4-36. Which of the following accounts could not be reconciled using QuickBooks reconciliation feature? A. Cash B. Credit card payable C. Accounts payable D. Unearned revenue CH1-GA-02. Which of the following accounts would not appear on the income statement? Select all that apply. (4 total) A. Unearned revenue B. Prepaid expenses C. Service revenue D. Loss on sale of equipment E. Dividends F. Accounts receivable G. Depreciation expense CH4-37. CH1-GA-03. Payroll taxes withheld from an employee's paycheck would normally be recorded as a(n) The QuickBooks report that best shows the financial position of a company at a point in time is the report. A. Statement of Financial Position B. Balance Sheet C. Profit & Loss D. Journal A. asset B. current liability C. expense D. other expense CH4-38. The make general journal entries form A. is accessed through the Home page B. is accessed through the Company dropdown menu on the main menu bar C. is be accessed through the Lists dropdown menu on the main menu bar D. is accessed through the Edit dropdown menu on the main menu bar. CH3-GA-04. Certain payments to 1099 vendors must be reported to A. the Internal Revenue Service. B. the Social Security Administration. C. the Department of Labor D. all of the above agencies