Self-Assessment

Self-Assessment Check your knowledge of this chapter's key concepts and skills using the Self-Assessment quiz here, in your ebook, or in your eLab course, True False 1. QuickBooks Pro would be a good software program for a company with 100 employees. 2. Performing an activity within QuickBooks offects what happens behind the scenes in the program 3. In the cash basis of accounting, you record the expenses when they are accrued. True False True False True False True False True False 4. A portable company file is the same as a backup file. 5. You must store your QuickBooks company file on a cloud drive. 6. To use a QuickBooks backup file, you must restore it first. 7. All commands accessible on the Home Page can be found through the menu bar as well. 8. The icon bar can be either displayed or hidden in your QuickBooks window. 9. Updates or maintenance releases are available for QuickBooks for a small fee. True False True False True False 10. Where should you NOT back up your company file? A. A USB flash drive B. Intuit's Online Backup service C. A drive where your main company file is stored D. An external hard drive 1. In the event of a data loss, what type of file helps you recover any data entered after the last backup operation? A. A transaction log B. A backup C. A portable company D. A network the files 2. To use QuickBooks portable company files, you first A, restore B. replace C. reuse D. open - Which account is increased when an invoice is created? A. Opening Balance Equity B. Checking C. Selling Expense D. Accounts Receivable