QUESTION 6

1. A category is a means of classifying products and services you sell to customers. Categories save you time when completing transaction forms, since you can search for items by category.

True

False

QUESTION 7

1. An invoice is a form on which you record details about a sale to a customer who owes you money. It lists the services you're providing or the products you're selling. It also shows the quantity and price or rate of each item.

True

False

QUESTION 8

1. A non-inventory part is one of the types of line items you can use when you are filling out a sales form or purchase form. Non-inventory part items do not track merchandise that:

a.

You purchase but do not resell.

b.

Materials that are used in the delivery of your services.

c.

You purchase and resell but do not stock in inventory or track as inventory.

d.

None of the above

QUESTION 9

1. If you need to keep track of Accounts Payable, each of your suppliers must be set up on the Suppliers list.

True

False

QUESTION 10

1. Below are the two steps used to track accounts payable in QuickBooks, the third step is optional.

a.

Deferred Charges - Enter Bill - Print Bill Payment Cheques

b.

Enter Bill - Pay Bill - Print Bill Payment Cheques

c.

Receive Inventory - Enter Bill - Pay Bill

d.

Deferred Charges - Receive Inventory - Enter Bill