Question
CHAPTER 9 Daryas Dance Studio 1. If the Require Accounts option is turned off, sales transactions entered without a specified account will be posted to:
CHAPTER 9 Daryas Dance Studio
1. If the Require Accounts option is turned off, sales transactions entered without a specified account will be posted to: a. Revenue b. Equity c. Uncategorized Income d. Uncategorized Equity
2. Which account type should be chosen for account used to record customer credit card receipts? a. Bank b. Bank Credit Card c. Credit Card d. Accounts Receivable
3. How are opening balances added for an expense account? a. Using the Enter Opening Balances button on the Add New Account form b. Using the Historical Information field on the Add New Account form c. As an adjusting entry after the account has been created d. By right-clicking the account in the Chart of Accounts and selecting Add Balance
4. How should the opening balances of contra-accounts be entered? a. As a negative value b. With a dollar sign c. As a positive value d. With parentheses around the value
5. Under which preference heading would you find the option to use account numbers? a. Desktop View b. Accounting c. General d. Integrated Applications
6. What is the name of the item that is automatically added to the Item List when Finance Charge preferences have been set up? a. Interest b. Charges c. Cust Chg d. Fin Chg
7. The default due date assigned for bills is: a. The end of the month b. 30 days after receipt c. Immediately d. 10 days after receipt
8. Which type of account would normally be linked to items used to record merchandise purchased? a. Liability b. Asset c. Revenue d. Expense
9. By default, what are the items on the Item list sorted by? a. Catalog number b. Rate c. Name d. Unit of measure
10. Which item type should you choose for items such as finance charges or delivery and setup fees? a. Service b. Additional Fee c. Non-Inventory Part d. Other Charge
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