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1 | |
The owner of a sole proprietorship files _________ attached to Form 1040 to report income and tax deductions for the business. |
| | A) | Schedule D |
| | B) | Form 1120 |
| | C) | Schedule C |
| | D) | Schedule K |
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2 | |
When preparing bids for customer jobs, you would print the following: |
| | A) | General Journal and General Ledger |
| | B) | Estimates |
| | C) | Chart of Accounts and Vendor List |
| | D) | Progress Billing Report |
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3 | |
To export a report to Excel, from the Report window, click the ________ button. |
| | A) | Print To |
| | B) | Save As |
| | C) | Excel |
| | D) | Export |
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4 | |
In order to prepare year-end adjustments, you would provide your accountant a copy of your QuickBooks Company file using: |
| | A) | Backup file (.QBB file) |
| | B) | Accountant's Review Copy (.QBX file) |
| | C) | Working file (.QBW file) |
| | D) | Year-End file (.QBY file) |
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5 | |
To plan for future business expansion, you may want to develop a(n) _______ in QuickBooks. |
| | A) | Income Tax Preparation Report |
| | B) | Net Worth Graph |
| | C) | Budget Report |
| | D) | Payroll Liabilities Report |
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6 | |
To record a write-off of an uncollectible accounts receivable in QuickBooks, you could do any of the following except: |
| | A) | Use the Receive Payments window |
| | B) | Select Edit and then delete the uncollectible customer invoice |
| | C) | Use the Credit Memo window |
| | D) | Make a journal entry to remove the customer's account receivable |
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7 | |
Progress Invoicing is used when: |
| | A) | A business undertakes a job that lasts a long period of time and needs to bill customers as the job progresses |
| | B) | Customers have a bad credit rating |
| | C) | A business purchases from an outside vendor and needs a longer period of time to pay the purchase invoice |
| | D) | Estimates are used |
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8 | |
To memorize a report: |
| | A) | Create the report, select Edit and then select Duplicate. |
| | B) | Select Edit, Company & Financial, and then Memorize |
| | C) | There is no memorize feature available for reports |
| | D) | Create the report and select Memorize |
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9 | |
When saving reports as a file to a disk, Quickbooks permits you to select from all of the following file formats except: |
| | A) | PDF text file |
| | B) | Spreadsheet file |
| | C) | Tab delimited file |
| | D) | ASCII file |
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10 | |
The Audit Trail feature permits you to: |
| | A) | Print a detailed list of customers with open balances |
| | B) | Track all changes made to your QuickBooks records |
| | C) | Track customers who are past-due on their accounts |
| | D) | Create a copy of your company data files for your accountant |
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