QuickBooks Question

1. Which statement about the various industry editions of QuickBooks is true? a. The Chart of Accounts contains only standard accounts and only standard accounting reports are available. b. The Chart of Accounts is customized to match the industry but only standard accounting reports are available. c. The Chart of Accounts is customized to match the industry and reports useful for the particular industry are available. d. The Chart of Accounts contains only standard accounts but reports useful for the particular industry are available.

2. Which pieces of information are required when you create a new company file? a. Sales tax status, business name, and business type b. Business name, CRA number, province, and industry type c. Payroll status, province, business name, and business type d. Name, business type, industry type, and province

3. What would be the effect of deleting uncleared transactions and reducing inventory to zero? a. Only uncleared banking transactions will appear in the chequing account Reconciliation Detail report. b. Only cleared transactions will appear in the GL balances. c. Only outstanding bills and invoices will appear in the Accounts Payable Aging reports. d. Only outstanding bills and invoices will appear in the Accounts Receivable Aging reports.

4. Which set of elements is copied into a new company file when it is created from an old file using the Create method? a. Chart of Accounts, Sales Tax items, Preferences, and unfiltered memorized reports b. Customer List, Item List, Chart of Accounts, and unfiltered memorized reports c. Vendor List, Class List, Preferences, and Sales Tax items d. Sales Rep List, Preferences, Chart of Accounts, and unfiltered memorized reports