I would like to send you questions regarding to quickbook Please help me for these questions.

Thank you

Test Bank Lesson 1 Introducing QuickBooks Pro Name: _______________________________________ Class: _______________________________________ Date: _______________________________________ True/False Questions 1. A manufacturing business is the ideal type of business for QuickBooks Pro. a. True b. False 2. In QuickBooks, if you learn how to use one version, you can switch to a different version with relative ease. a. True b. False 3. Data entry is the same in QuickBooks whether you use accrual or cash basis accounting. a. True b. False 4. The cash basis of accounting is commonly used by small businesses that are not publicly traded. a. True b. False 5. A backup file is smaller than a portable company file of the same company. a. True b. False 6. Once it is displayed, you cannot hide the icon bar. QuickBooks 2013 Page 1 Test Bank a. True b. False 7. You should always back up your company file to an alternate location, not on the same computer where the original file is located. a. True b. False 8. The QuickBooks release number can be found in the Product Information window. a. True b. False 9. A USB drive should never be used to backup company file data. USB drives should only be used to transfer data from one computer to another within the company. a. True b. False Multiple Choice Questions 10. QuickBooks SimpleStart, QuickBooks Pro, and QuickBooks Premier are all types of _____. a. QuickBooks versions b. QuickBooks editions c. QuickBooks volumes d. QuickBooks sections 11. What type of task assists you in storing information about customers, vendors, and employees? a. List b. Activities c. Company setup d. Reports 12. What accounting method is typically used by businesses with large inventories? QuickBooks 2013 Page 2 Test Bank a. Cash basis b. Accrual basis c. Both a and b d. None of the above 13. What does \"behind the scenes\" mean in this QuickBooks textbook? a. There is a second set of books b. The accounting that QuickBooks performs for you c. The underlying lists and activities d. All of the above 14. What is the act of decompressing a backup file called? a. Uncompressing b. Restoring c. Opening d. All of the above 15. A compressed QuickBooks file, ideal for attaching to an email message, is a _____. a. backup file b. restored file c. portable company file d. Both b and c QuickBooks 2013 Page 3 Test Bank 16. What screen element displays the QuickBooks edition in which you are working? a. Menu bar b. Title bar c. Home page d. All of the above 17. When are transactions saved in QuickBooks? a. Automatically as they are entered b. When you close QuickBooks c. When you execute the File > Save command d. All of the above 18. QuickBooks allows you three options to back up your company files. Which of the following IS NOT one of the options? a. Save it now b. Save it now and schedule future backups c. Automatically each time 26 MG of new data is entered. d. Only schedule future backups Matching Questions 19. Match each QuickBooks file type to its description. A Company file A compressed copy of your data; great for sending via email B Backup file Contains important configuration data; should not be deleted C Portable company A decompressed file in which you carry out daily file transactions D Transaction log file Helps to recover any data entered after the last backup operation E Network data file A compressed copy of your data that can be stored online 20. Match each QuickBooks task to its description. A List Affects what is happening behind the scenes; easily entered on forms QuickBooks 2013 Page 4 Test Bank B Activities C Company setup D Reports QuickBooks 2013 Page 5 Gives a snapshot of aspects of a business; preset and easily customizable Takes you through the steps necessary to create a new QuickBooks company Allows you to store information about customers, vendors, employees, and other data important to your business Test Bank 21. Match each accounting basis to its correct description. A Accrual basis Income is recorded when cash is received and expenses recorded when cash is paid. B Cash basis Income is recorded when the sale is made and expenses recorded when incurred. 22. Match each Home page task icon with its corresponding ToolTip. A Chart of Accounts Pay outstanding bills you have already entered into QuickBooks. B Reconcile View and modify the list of items and services you sell. C Pay Bills Issue a credit memo to credit a customer for merchandise returns, service credits, or credits toward an account. D Create Sales Enter outstanding bills from vendors. Receipts E Enter Bills View and modify your QuickBooks accounts (bank, income, expense, etc.). F Items & Services Match transactions in your QuickBooks account against your bank statement. G Create Invoices Bill your customer and receive payment later. H Refunds & Credits Bill your customer and receive payment at the same time. 23. Match each GAAP principle to its description. A Business entity When a company purchases assets, it should record them at cost (not fair market value). B Going concern A company should use the same accounting principles and methods from year to year. C Monetary unit The business is separate from the owners and from other businesses. D Time-period When an item is reported, its significance should be considered. E Cost Implies that the activities of the business can be divided into time periods. F Revenue Expenses need to be matched with revenues. G Matching Assumes that a stable currency is going to be the unit of record. H Objectivity Outlines that the statements of a company should be based on objectivity. I Materiality Requires public traded companies to record when revenue is realized and earned, not when cash is received. J Consistency Assumes that the business will be in operation indefinitely. QuickBooks 2013 Page 6 Test Bank 24. Match eachterm to its best description. A Intuit Data Protect System where income is recorded when a sale is made and expenses recorded as they are incurred. B [F2] Key Displays a list of companies you do business with and manages various transactions. C Cash Basis Listing of all accounts used by your company. D Chart of Accounts Used to determine which QuickBooks release number you are working with on a computer. E GAAP Web service that allows you to recover data in the event you lose your working company file. F Accrual Basis Rules used to prepare, present, and report financial statements for a variety of entities. G Vendor Center Accounting system that records income and expenses when cash is paid or received. 25. Match each file type to its best description. A Company files Helps you recover data entered after the last backup was performed. B Portable file Used to store a copy of your data in case your main file becomes corrupted and needs to be restored. C Backup file Small file that is a convenient way to send company information by email. D Network data file Contains important configuration data. E Transaction log File used for entering day-to-day transactions. QuickBooks 2013 Page 7