CH7-33. The unique transaction type for recording the transfer of funds between bank accounts is CH7-34. CH7-35. A. Transfer B. Deposit C. Cash Transfer D. Funds transfers cannot be recorded in QuickBooks. Merging accounts A. Can be reversed by selecting unmerge accounts on the Chart of Accounts list. B. Is irreversible. C. Can be reversed by checking allow reversals on the Accounting page of the preferences window. D. Is reversible if the account being merged has never been used. Damaged transactions are listed A. In the_QBW.DAMAGE file B. In the QBWIN.LOG C. In the QBW.TLG file D. Damaged transactions are not available to QuickBooks users. Information about employees including contact information and payroll information is maintained in A. Vendor Center B. Employee Center C. Payroll Center D. Payroll List An employee's hire and termination dates are entered on of their record in the Employee Center. A. Additional info tab B. Payroll Info tab C. Employment Info tab D. Personal tab CH8-36. CH8-37. CH8-38. CH8-39 A new hourly rate would be set up in form. A. New Employee Setup B. Add New Payroll Item C. Add New Payroll Wage D. New Employee Wage Setup Which of the following is not required for set up of a payroll item for state employer tax? A. Liability account B. Expense account C. Tax Rate D. Taxing agency E. All of the above are required. CH8-40 Which report shows gross pay, net pay, and employer payroll taxes by employee? A. Payroll Liability Balances B. Payroll Summary C. Compensation Report D. Salary Summary General Accounting Questions (3 Points) CH5-GA-01. What type of account is the Allowance for Doubtful Accounts? Bonus) A. Contra liability B. Liability C. Asset D. Contra asset E. Expense CH5-GA-02. Which inventory system tracks inventory on a continuous basis? A. Periodic B. Perpetual C. Specific identification D. Weighted average CH5-GA-03. Gross profit ratio is calculated as: A. Gross profit divided by Sales Revenue B. Sales Revenue minus Cost of Goods Sold C. Net Income divided by Sales Revenue D. Sales Revenue minus operating expenses CHO-GA-04. Ordering products: A. Is an accounting transaction B. Is an economic event C. Is both an accounting transaction and an economic event D. Is neither an accounting transaction nor an economic event CH6-GA-05. Which of the following companies would not be primarily considered a merchandising company? A. Wal-Mart B. Radio Shack C. Food Services of America (a distributor of food products) D. American Express with a normal balance. CH6-GA-06. Inventory is a(n). A. Current asset; Debit B. Long term asset; Debit C. Expense: Debit D. Current asset; Credit E. Long term asset; Credit F. Expense; Credit