Chapter 3

1. Which of the following transactions would typically be recorded in the QuickBooks general journal? a. Purchase of office supplies b. Year-end adjustment for depreciation on equipment c. Sale of merchandise to a one-time customer d. Payment of telephone expenses

2. Which type of account is listed first in the Chart of Accounts? a. Liability b. Equity c. Asset d. Revenue

3. Which button should you click if you need to enter a transaction with more than two journal entry lines into the Account Register? a. Splits b. Add c. Account d. Activities

4. When entering a transaction in the account register, which type of account should you start with? a. Balance Sheet b. Revenue c. Income Statement d. Retained Earning

5. Which of the following would you use to access the Chart of Accounts? a. Ctrl + Enter b. Alt + C c. Ctrl + C d. Ctrl + A

6. Which button would you press to bring up the QuickBooks calculator when entering a General Journal transaction? a. % b. + c. ! d. @

7. Which of the following could you use to access the General Journal from the Chart of Accounts? a. Select the account and choose General Journal from the View menu b. Highlight an account and choose Make General Journal Entries from the Activities button c. Double-click on one of the accounts used in the transaction d. Click the General Journal icon in the Home window

8. If a new account is created while entering a purchase, which account type is selected by default? a. Bank b. Payable c. Inventory d. Expense

9. What is the Other payee type used for? a. Vendors who supply inventory goods b. One-time customers c. Payees who do not supply or buy goods or services d. Vendors who supply non-inventory goods

10. Which of the following would allow you to access the Account Listing report? a. Choose the Reports menu, then choose List and click Account Listing b. Choose the Report Centre from the Icon bar, then choose the Company & Financial category and click Account Listing c. From the Chart of Accounts, choose the List option from the Activities menu d. Right-Click any account in the Chart of Accounts and choose Listing from the context menu that appears