Site MapHelpFeedbackCHAPTER 3: MULTIPLE CHOICE QUESTIONS
CHAPTER 3: MULTIPLE CHOICE QUESTIONS
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1

The Check Register:
A)Lists all accounts and their account numbers
B)Is located directly on the Company Navigation Bar
C)Keeps track of the company purchase orders and vendors
D)Records all transactions affecting the Checking account
2

All of the following tasks can be completed in the Banking Navigator window except:
A)Online banking
B)Receive Items
C)Make deposits
D)Reconcile accounts
3

Deposits other than customer payments are recorded using the _________ Navigator.
A)Company
B)Vendor
C)Banking
D)Tools
4

In the Make Deposits window, what account is selected when recording an investment by the owner of a Sole Proprietorship?
A)Owner's Income
B)Checking
C)Accounts Payable
D)Owner's Contribution Equity
5

Which one of the following activities is associated with the Banking Navigator?
A)Create invoices to bill customers
B)Pay bills when received
C)Create purchase orders
D)Record the bill when received and pay later
6

The one-step approach (Write Checks window) should not be used to pay the following:
A)Sales taxes
B)Expenses, such as rent, utilities, and insurance
C)Bills for non-inventory items, such as office supplies
D)Bills for services, such as accounting or legal services
7

Which one of the following is not a type of account?
A)Asset
B)Revenues (Income)
C)Banking
D)Expenses
8

One of the objectives of a bank reconciliation is:
A)To detect errors
B)To record monthly depreciation
C)To update the chart of accounts
D)To update the bank's records
9

When reconciling a bank account, which one of the following is not considered a timing difference (difference between the bank balance and the book balance)?
A)Interest earned
B)Deposits in transit
C)Outstanding checks
D)Errors
10

Unmatched transactions is a term used when:
A)Memorizing a transaction for future use
B)Reconciling the checking account using the Online Banking window
C)The transaction being recorded in the chart of accounts
D)Making adjusting journal entries





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