QuickBooks-Chapter 2 Practice Exam
For a cash payment on a bill not previously entered in QuickBooks, (Ans- uses the Write Checks window
Which of the following is a true statement?(Ans- QuickBooks automatically updates any related reports with information from vendor transactions
n QuickBooks, which window is used to record a purchase on account?(Ans- Enter Bills window
The Unpaid Bills Detail report does not (Ans- show vendors that have not sent bills
Which of the following is false?(Ans- Payment for a cash purchase cannot be entered in the Write Checks window.
When reviewing a report, QuickBooks allows you to "drill down" from a report to (Ans- the original transaction window where data has been entered.
When you use the Pay Bills window in QuickBooks, (Ans- for general ledger purposes, the bill is considered paid.
Vendor activities in QuickBooks use the (Ans- Enter Bills, Pay Bills, and Write Checks windows.
The Journal report (Ans- displays, in general journal format, all transactions recorded during a specified period of time.
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When you make an entry for a new liability in the Enter Bills window, QuickBooks does not automatically update (Ans- the checking account balance.
A cash purchase (Ans- is a payment of any bill immediately upon receipt
A purchase on Account is (Ans- an Account Payable
n QuickBooks, the Pay Bills window is used (Ans- to record a payment on account
To process vendor transactions which of these QuickBooks menus is not used?(Ans- Journal
The Vendor Center should contain (Ans- company name, address, contact person, type of vendor, terms, and other important information
When you write a check in the Write Checks window, (Ans- the account field is used to indicate the asset, expense, or drawings account to be debited.
Which statement is true?(Ans- The Vendor Center serves as the accounts payable subsidiary ledger for the company
The Pay Bills window displays (Ans- all open bills as of a selected date
Vendor-related reports in QuickBooks (Ans- include the Unpaid Bills Detail report, the Vendor Balance Detail report, and the Vendor Contact List report.
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