Chapter 2

1. Which of the following extensions denotes a QuickBooks file? a. .qbw b. qbk c. .qbt d. qbf

2 What is the initial default date for transactions when a company data file is opened? a. The source document date b. The current computer date c. The date of the last transaction entered d. The date of the last QuickBooks session

3. To be available for selection as the source of a cheque, accounts must be defined as which of the following types? a. Asset accounts b. Bank accounts c. Cash accounts d. Current Asset accounts

4. Which button should be clicked after changing an amount on a cheque? a. Next b. Update c. Clear Splits d. Recalculate

5. What should you press to display the Transaction Journal report of a saved transaction? a. Ctrl + J b. Ctrl + W c. Ctrl + Y d. Ctrl + T

6. When customers pay for purchases immediately and do not have an account in QuickBooks, their purchases should be entered as: a. Bills b. Sales Receipts c. Statements d Received Payment

7. Which account are cash receipts are recorded into as a debit entry by default? a. Bank Chequing b. Cash in Bank c. Funds for Deposit d. Undeposited Funds

8. Which columns are mandatory when displaying a customized sales receipt? a. Item, Amount, Tax Code b. Item, Description, Quantity c. Item, Quantity, Description c. Quantity, Amount, Tax Code

9. Which of the following symbols is used to separate a customer name from a job name? a. / b. - c. : d.\

10. Which of the following statements is true regarding the audit trail in QuickBooks? a. When a transaction is deleted, it is removed from the audit trail b. When a previously saved transaction is changed, the original transaction will be removed from the audit trail c. The audit trail is used to confirm that all entries have been recorded without errors d. The audit trail cannot be turned off