QUESTION 2

In Chapter 3, the distribution of accounts for a sales receipt is:

Accounts Payable/Vendor are debited and the checking account is credited.

Sales are debited and the checking account is credited.

The checking account is debited and sales are credited.

The checking account is debited and Receivables are credited.

QUESTION 3

What report shows the unpaid invoices for the current period?

Balance General (Balance Sheet).

Ganancias y Prdidas (Profit and Loss).

Summary of Accounts Payable (A/P Summary).

Summary of Accounts Receivable (A/R Summary).

QUESTION 4

The vendor Conf/Call purchases Webinars.

True

False

QUESTION 5

View register accounts appear on the Profit & Loss report.

True

False

QUESTION 6

The source documents shown in Chapter 9 include all of the following except:

Vendor purchases.

Credit card sales.

Common stock.

Memos.

QUESTION 7

With the mobile app, you can:

Add plans and contracts.

All of the above.

Invade photos

Create estimates.

QUESTION 8

QBO automatically sets up default accounts for liabilities and payroll expenses.

True

False

QUESTION 9

In Chapter 11, payment cheques are issued on Mondays.

True

False

QUESTION 10

When using QBO, ____ are unavoidable.

Journal entries.

templates.

Updates

Custom reports.

QUESTION 11

QB mobile apps only synchronize customer invoices.

True

False

QUESTION 12

Payroll liability accounts are classified as expenses.

True

False

QUESTION 13

The QBO blog is regularly modified.

True

False

QUESTION 14

Who is your payroll contact?

Cindy Barber.

Student's first and last name.

Mr. and Mrs. John Smith.

Your teacher.

QUESTION 15

Premium and Core payroll applications are for 30 days.

True

False

QUESTION 16

When you use accounting software, you should always use journal entries instead of entering information directly into the checkbook to pay the invoices.

True

False

QUESTION 17

When entering entry adjustment into a computerized accounting system,

Use the journal entry function.

Use the prepare adjustment entries function in reports

Use adjustment voucher preparation in the Invoices and Payment Invoices section (bills)

Do nothing, they are automatically entered into a computerized system

QUESTION 18

In a computerized accounting system, you can submit a statement of results (select all that apply)

annually.

Mensulamente.

As a comparison between this year and the previous year.

As a comparison between US GAAP and IRFS

QUESTION 19

When analyzing a Balance Sheet drawn up by a computerized accounting system, the current reason is found to be 8 to 1. This means that:

Some journal entries that you submitted have not yet been posted to the ledgers.

Current assets are much higher than current liabilities.

In total, eight transactions that you entered into the system have not yet been entered in the journals or larger books.

Eight of the transactions that affect cash and a transaction that affects the accounts payable that you entered the system, are not yet entered in journals or ledgers.

QUESTION 20

As an accountant for ABC, you believe there may be fake invoices entered into the computerized accounting system. Where would you look to verify the invoices?

The checkbook.

In the Income Statement.

In Vendor Profile profiles.

In Accounts receivable reports