Select the correct answer

1. To enter vendors and expenses transactions:

1. From the navigation bar, select customers
2. From the navigation bar, select expenses+new transaction
3. From the gear icon, select vendors
4. From the gear icon, select expense transactions

2. To enter an expense transaction:

1. From the navigation bar, select customers
2. From the navigation bar, select sales
3. From the create icon, select expense
4. From the gear icon, select vendor transactions

3. QuickBooks considers all of the following to be vendors except:

1. Utility companies
2. Suppliers of inventory and supplies
3. Tax agencies such as the IRS
4. Customers purchasing products

4. Which of the following is not a vendor transaction?

1. Order products
2. Pay bills
3. Make deposits
4. Receive bills

5. We can update the Vendors List at which of the following two points:

1. Before entering transactions
2. While entering transactions
3. After entering transactions

6. Which of the following two are venders and expenses transactions?

1. Invoice
2. Receive payment
3. Pay bills
4. Check

7. The Bill Form is used to record which one of the following transactions?

1. Owners Investment
2. Services received but not yet paid
3. Products sold to customers
4. Cash purchases of supplies

8. Which of the following activities, and the Quickbooks form used to record it, is incorrect?

1. Receive products, customers list
2. Order products, purchase order
3. Record inventory information, products and services list
4. Sell products and bill customers invoice

9. Indicate the order in which the following onscreen vendors and expenses transaction forms typically should be prepared:

1. Expense+Pay Bills
2. Check+Pay Bills
3. Bill+Pay Bills
4. Invoice+Pay Bills

10. Which of the following reports tracks past due bills and bills that are due shortly?

1. Prodit & Loss
2. Statement of Cash Flows
3. Accounts Payable Aging
4. Accounts Receivable Aging

11. Accounts Payable are:

1. Amounts totaling the net worth of a company
2. Amounts paid to owners
3. Amount that customers owe your business
4. Amounts owed to others that are obligations

12. When a purchase is recorded as a bill, Quickbook records a

1. Debit to cash
2. Credit to owners contribution
3. Debit to accounts receivable
4. Credit to accounts payable