Hi please answer all the multiple choices $16$ questions and please make sure the answers are correct. Thankyou

$1)$Which of the following would not be a prepaid expense?Answer

a$.$Equipment Rental for a day

b$.$Office Supplies to have on hand

c$.$None of the aboved.

$2)$insurance for six monthsWhere do you record the $2\%$ discount for early payment of a bill?

$)$Answer

a$.$Change the amount of the bill payment check

b$.$Any of the above

c$.$Prepare a Vendor Creditd.Enter it on the bill

$3)$ When you write a check to pay for a Bill that was recorded as a Bill, you$$Answer

a$.$Handwrite a check

b$.$Any of the above

c$.$Use Pay Bills

d$.$Write a Check in QuickBooks Online

$4)$ When recording an early payment discount on inventory items, you use the $...$Answer

a$.$Sales Discount

b$.$Discount Expense

c$.$Purchases Discount

d$.$Merchandise Discount

$5)$ When a return is made for a Sales Receipt, a$$ is completed.Answer

a$.$Refund Receipt

b$.$Voided Transaction

c$.$Credit Memo

d$.$Sales Receipt Return

$5)$ When a customer returns an item from a sale on account, a$($n$)$ is completed.Answer

a$.$Return Receipt

b$.$Invoice

c$.$Credit Memo

d$.$Sales Receipt

$6)$ To see every transaction in Debit$/$Credit format, you prepare a$$ report.Answer

a$.$Trial Balance

b$.$Journal

c$.$Customer Balance Detail

d$.$Transaction List

$7)$ To change the quantity on hand for an inventory item, youAnswer

a$.$Edit the item in the Products$/$Services List

b$.$Change the Opening Balance Invoice

c$.$Edit the Inventory Asset account

d$.$Prepare an Inventory Valuation Detail report

$8)$ The Sales Tax Center includesAnswer

a$.$Taxes Due this month

b$.$All the above

c$.$Access to Sales tax settings

d$.$Upcoming Taxes Due

$9)$ The report that you prepare to determine which bills to pay is the$$ report.Answer

a$.$Unpaid Bills

b$.$Expenses List

c$.$Bill Payment List

d$.$Vendor Balance Detail

$10)$ Reports may beAnswer

a$.$Exported to Excel

b$.$Emailed

c$.$All the above

d$.$Printed

$11)$ QuickBooks Online cannot export the$$ to excelAnswer

a$.$Customer Balance Summary Report

b$.$All of these can be exported to excel

c$.$Profit & Loss Report

d$.$Reconciliation Report

$12)$ Petty Cash transactions are recorded as a$($n$)$Answer

a$.$Bill

b$.$Transfer

c$.$Expense

d$.$Any of the above

$13)$ Opening Balances for Inventory Items that were added without preparing a $...$Answer

a$.$Your Name, Investment

b$.$Inventory Assets

c$.$Both A and B

d$.$Opening Balance Equity

$14)$ If the adjusting entry to transfer Net Income and Retained Earnings into the $...$Answer

a$.$None of the above because the Net Income and Retained Earnings have been transferred into capital

b$.$Both Net Income and Retained Earnings

c$.$Net Income

d$.$Retained Earnings

$15)$ If a bill payment amount does not match any of the bill amounts, QuickBooks $...$Answer

a$.$The oldest bill

b$.$Vendor Credits

c$.$The newest bill

d$.$Splits the amount among all bills owed to the vendor

$16)$ After you import the Chart of Accounts, you edit the$$ and$$

accounts...Answer

a$.$Asset and Income

b$.$Asset and Liability

c$.$Liability and Expense

d$.$Income and Expense