QuickBooks Quiz
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QuickBooks Quiz
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25 Questions

1. Last month you successfully reconciled your checking account, but when you try to reconcile this month, the beginning balance calculated by QuickBooks is different from the beginning balance according to the bank. What might have happened?
2. What is the easiest way to set up multiple companies, with the same owner, in QuickBooks?
3. How can you move your QuickBooks Desktop company file, with all of your data, to a new computer?
4. How do you create a loan in QuickBooks?
5. After paying a bill in the Pay Bills screen, QuickBooks automatically creates a journal entry behind the scenes that will do what?
6. You are setting up QuickBooks for the first time for a company that was established in 2001. During the Advanced/Detailed Setup, what should you enter as the start date?
7. Why is it important during payroll setup to enter your deposit frequencies?
8. Why would you clear the Bill Received check box when entering a bill on the Enter Bills screen?
9. During the Advanced/Detailed Setup process, you notice there are some accounts you would like to add to your Chart of Accounts that are not on the default list. What is the easiest way to accomplish this?
10. How do you record a debit card purchase in QuickBooks?
11. Which two accounts are typically affected by Payroll Items when using the Payroll feature?
12. Can you delete a vendor whom you are no longer using from the list?
13. What does QuickBooks do with net profit at the beginning of a new year?
14. For whom can you create a password during the Advanced/Detailed Setup?
15. When entering a journal entry, the debits do not equal the credits. What will QuickBooks do in this case?
16. QuickBooks uses a system called double-entry accounting. What does this mean?
17. Why would you use the Items tab when entering a bill?
18. In the case of a subscription or monthly fee, what does the batch invoicing process allow you to do?
19. Each partner in a company is compensated based on the net profit of the work they manage. Which QuickBooks feature would you use to track each partner's net profit?
20. Your accountant calls and needs to know which version of QuickBooks you are using. What is the easiest way to find out?
21. When initially setting up a company through the Advanced/Detailed Setup, which information does QuickBooks require you to enter?
22. When a customer's deposit is recorded using the Make Deposits window, QuickBooks creates a behind-the-scenes journal entry that will do what?
23. Time Tracking in QuickBooks _cannot_ be used to complete which task?
24. What is QuickReport in QuickBooks?
25. You _cannot_ use the Enter Bills > Pay Bills approach to pay what type of bill?

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