QUESTION 25 Which of the following is not an available button at the Glad you're here page when you begin setup? Preview Your Settings Create Company Create Chart of Accounts All of the choices are correct. QUESTION 26 When selecting preferences for sales tax on the Company Preferences tab, you can indicate all of the following except the sales tax liability account. your most common sales tax item. whether the company charges sales tax. when you pay sales tax. QUESTION 27 When QuickBooks activates the payroll feature, it automatically creates the Payroll Cash and Payroll Expenses accounts. FICA Payable and Federal Withholding accounts. Payroll Cash and Payroll Liabilities accounts. Payroll Liabilities and Payroll Expenses accounts. QUESTION 28 The account is created to capture net income at the end of the fiscal year. Opening Balance Equity Owners Equity Cash - Operating Owners Draw QUESTION 29 Which of the following item types can be added to the Item List? service, non-inventory part, and payment terms cost of goods sold and payment terms o inventory, uncategorized income, and uncategorized expenses service, inventory part, and sales tax QUESTION 30 and credits When customers with balances are recorded during the setup process, QuickBooks debits Accounts Receivable, Uncategorized Income Uncategorized Income, Accounts Receivable Accounts Payable, Uncategorized Expenses Uncategorized Expenses, Accounts Payable QUESTION 31 Which of the following is not a field in the Sales Information section of the Edit item window? Sales Price O COGS Account Tax Code Income Account QUESTION 32 To reverse the Uncategorized Income account in the Make General Journal Entries window, debit Uncategorized Income and credit Accounts Receivable. debit Uncategorized Income and credit Opening Balance Equity (Capital). O debit Accounts Receivable and credit Uncategorized Income. debit Opening Balance Equity and credit Uncategorized Income