Which pair of fields must contain unique values for every name entry in Quickbooks?

A. CUSTOMER TYPE and COMPANY NAME.

B. VENDOR TYPE and FULL NAME.

C. CUSTOMER NAME and VENDOR NAME.

D. COMPANY NAME and FULL NAME.

3. Which of the following statements is true about Quickbooks?

A. The correct QuickBooks form when billing the customer is the Statement.

B. The correct QuickBooks form when vendors bill the company is the Write Cheques form.

C. The correct QuickBooks form for a customer invoice is the Sales Receipts form.

D. The correct QuickBooks form for a vendor invoice is the Enter Bills form.

4. Which of the following statements is true in Quickbooks?

A. Amounts the customers owe the business are held in the Undeposited Funds GL account until paid.

B. Amounts the business owes to others are held in the Accounts Payable (A/P) GL account until paid.

C. Amounts the business owes to others are held in the Accounts Receivable (A/R) GL account until paid.

D. Amounts the customers owe the business are held until paid in the Cost of Goods Sold (COGS) GL account until paid.

5. Which statement about the effect of entering a Create Invoices form in the accounting records is correct?

A. Accounts Receivable decreases.

B. When marked as final, the invoice is removed from accrual reports.

C. When marked as pending, the invoice still appears in accrual reports.

D. The invoice debits Accounts Receivable and credits Revenue.

6. Which pieces of information are required when you create a new company file in Quickbooks?

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

7. Which attribute of entering manual General Journal entries using the Make General Journal Entries form in QuickBooks is not true?

A. The entry has a field for adding a name.

B. The entry is connected to other transactions.

C. The entry can be numbered.

D. The entry can be reversed.